Sirius International Insurance 10-K 14 Mar 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2018	Feb. 28, 2019	Jun. 30, 2018
Document and Entity Information
Entity Registrant Name	Sirius International Insurance Group, Ltd.
Entity Central Index Key	0001744894
Document Type	10-K
Document Period End Date	Dec. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Public Float			$ 0
Entity Common Stock, Shares Outstanding		115,231,992
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	FY

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Assets
Fixed maturity investments, trading, at fair value (Amortized cost 2018: $1,952.9; 2017: $2,195.3)	$ 1,949.2	$ 2,180
Short-term investments, at fair value (Amortized cost 2018: $716.1; 2017: $625.3)	715.5	625
Equity securities, trading, at fair value (Cost 2018: $409.4; 2017: $275.1)	380	299.2
Other long-term investments, at fair value (Cost 2018: $337.6; 2017: $255.5)	365	269.5
Cash	119.4	215.8
Restricted cash	12.8	14.8
Total investments and cash	3,541.9	3,604.3
Accrued investment income	14.1	14.1
Insurance and reinsurance premiums receivable	630.6	543.6
Reinsurance recoverable on unpaid losses	350.2	319.7
Reinsurance recoverable on paid losses	55	17.5
Funds held by ceding companies	186.8	153.2
Ceded unearned insurance and reinsurance premiums	159.8	106.6
Deferred acquisition costs	141.6	120.9
Deferred tax asset	202.5	244.1
Accounts receivable on unsettled investment sales	5	0.3
Goodwill	400.6	401
Intangible assets	195.6	216.3
Other assets	124	82
Total assets	6,007.7	5,823.6
Liabilities
Loss and loss adjustment expense reserves	2,016.7	1,898.5
Unearned insurance and reinsurance premiums	647.2	506.8
Ceded reinsurance payable	206.9	139.1
Funds held under reinsurance treaties	110.6	73.4
Deferred tax liability	237.4	282.2
Debt	696.8	723.2
Accounts payable on unsettled investment purchases	3.2	0.3
Other liabilities	150.5	176.8
Total liabilities	4,069.3	3,800.3
Commitments and Contingencies (see Note 22)
Mezzanine equity
Total mezzanine equity	232.2	106.1
Common shareholders' equity
Common shares (shares issued and outstanding: 2018: 115,151,251; 2017: 120,000,000)	1.2	1.2
Additional paid-in surplus	1,089.1	1,197.9
Retained earnings	816.6	858.4
Accumulated other comprehensive (loss)	(202.4)	(140.5)
Total common shareholders equity	1,704.5	1,917
Non-controlling interests	1.7	0.2
Total equity	1,706.2	1,917.2
Total liabilities, mezzanine equity, and equity	6,007.7	5,823.6
Series B preference shares
Mezzanine equity
Preference shares	$ 232.2
Series A redeemable preference shares
Mezzanine equity
Preference shares		$ 106.1

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Consolidated Balance Sheets
Fixed maturity investments, trading, at fair value, Amortized cost (in dollars)	$ 1,952.9	$ 2,195.3
Short-term investments, amortized cost (in dollars)	716.1	625.3
Equity securities, at cost (in dollars)	409.4	275.1
Other long-term investments, at fair value, Cost (in dollars)	$ 337.6	$ 255.5
Shares issued	115,151,251	120,000,000
Shares outstanding	115,151,251	120,000,000

Consolidated Statements of (Los

Consolidated Statements of (Loss) Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues
Net earned insurance and reinsurance premiums	$ 1,262.3	$ 1,035.3	$ 890.1
Net investment income	71.4	56.8	56.2
Net realized investment gains (losses)	2.3	(27.2)	288.3
Net unrealized investment gains (losses)	(23.2)	(10.5)	(238.2)
Net foreign exchange gains (losses)	22.7	9.2	(11)
Gain on revaluation of contingent consideration	9.6	48.8
Other revenue	112.7	21.7	9.1
Total revenues	1,457.8	1,134.1	994.5
Expenses
Loss and loss adjustment expenses	900	811.2	519.3
Insurance and reinsurance acquisition expenses	255.4	197.2	210.3
Other underwriting expenses	146.2	106.1	107.3
General and administrative expenses	77.9	91.9	85.1
Intangible asset amortization expenses	15.8	10.2
Impairment of intangible assets	8	5
Interest expense on debt	30.8	22.4	34.6
Total expenses	1,434.1	1,244	956.6
Pre-tax income (loss)	23.7	(109.9)	37.9
Income tax (expense) benefit	(40.4)	(26.4)	7.3
(Loss) income before equity in earnings of unconsolidated affiliates	(16.7)	(136.3)	45.2
Equity in earnings of unconsolidated affiliates, net of tax			6.6
Net (loss) income	(16.7)	(136.3)	51.8
Less: Income attributable to non-controlling interests	(1.4)	(13.7)	(19.3)
Net (loss) income attributable to Sirius Group	(18.1)	(150)	32.5
Less: Accrued dividends on Series A redeemable preference shares	(2.6)	(6.1)
Less: Change in carrying value of Series B preference shares	(36.4)
Add: Redemption of Series A redeemable preference shares	13.8
Net (loss) income attributable to Sirius Group's common shareholders	$ (43.3)	$ (156.1)	$ 32.5
Net (loss) income per common share and common share equivalent
Basic earnings per common share and common share equivalent	$ (0.36)	$ (1.30)	$ 0.27
Diluted earnings per common share and common share equivalent	$ (0.36)	$ (1.30)	$ 0.27
Weighted average number of common shares and common share equivalents outstanding:
Basic weighted average number of common shares and common share equivalents outstanding	119,253,924	120,000,000	120,000,000
Diluted weighted average number of common shares and common share equivalents outstanding	119,253,924	120,000,000	120,000,000

Consolidated Statements of Comp

Consolidated Statements of Comprehensive (Loss) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Comprehensive (loss) income
Net (loss) income	$ (16.7)	$ (136.3)	$ 51.8
Other comprehensive (loss) income
Change in foreign currency translation, net of tax	(61.9)	71.7	(67.3)
Net change in other, net of tax			1.2
Total other comprehensive (loss) income	(61.9)	71.7	(66.1)
Comprehensive (loss)	(78.6)	(64.6)	(14.3)
Net (income) attributable to non-controlling interests	(1.4)	(13.7)	(19.3)
Comprehensive (loss) attributable to Sirius Group	$ (80)	$ (78.3)	$ (33.6)

Consolidated Statements of Shar

Consolidated Statements of Shareholder's Equity - USD ($) $ in Millions	Common shares	Additional paid-in surplus	Retained earnings	Accumulated other comprehensive (loss)	Total common shareholder's equity	Non-controlling interests	Total
Balance at beginning of period, as adjusted			$ 1,009
Accumulated other comprehensive income (loss), other
Non-controlling interests							$ 250.1
Total common shareholder's equity at Dec. 31, 2015	$ 0.1	$ 1,096.1	1,009	$ (146.1)
Capital contribution from former parent		89.6
Stock split	1.1	(1.1)
Net income (loss)			51.8
Income attributable to non-controlling interests			(19.3)
Dividends to former parent			27
Balance at beginning of year at Dec. 31, 2015				(144.9)
Accumulated net foreign currency translation gains (losses)
Net change in foreign currency translation				(67.3)
Balance at end of year at Dec. 31, 2016				(212.2)
Balance, beginning of period at Dec. 31, 2015				(1.2)			(146.1)
Accumulated other comprehensive income (loss), other
Net change, other				1.2			(66.1)
Balance, end of period at Dec. 31, 2016							$ (212.2)
Total common shareholder's equity at Dec. 31, 2016	1.2	1,184.6	1,014.5	(212.2)	$ 1,988.1
Accumulated other comprehensive income (loss), other
Dividends declared per common share							$ 0.23
Balance at beginning of period, as adjusted			1,014.5
Non-controlling interests						$ 251.3	$ 251.3
Total equity							2,239.4
Capital contribution from former parent		13.3
Net income (loss)			(136.3)
Income attributable to non-controlling interests			(13.7)
Accrued dividends on Series A redeemable preference shares			(6.1)				(6.1)
Net change in foreign currency translation				71.7
Balance at end of year at Dec. 31, 2017				(140.5)
Accumulated other comprehensive income (loss), other
Net change, other							71.7
Balance, end of period at Dec. 31, 2017							(140.5)
Total common shareholder's equity at Dec. 31, 2017	1.2	1,197.9	858.4	(140.5)	1,917		1,917
Cumulative effect of an accounting change			1.6
Balance at beginning of period, as adjusted			860
Accumulated other comprehensive income (loss), other
Non-controlling interests						0.2	0.2
Total equity							1,917.2
Issuance of common shares	0.1	52.7
Share compensation expense		2.5
Share repurchase from CM Bermuda	(0.1)	(163.9)
Return of capital to CM Bermuda		(1.6)
Capital contribution from former parent		1.4
Other, net		0.1
Net income (loss)			(16.7)
Income attributable to non-controlling interests			(1.4)
Accrued dividends on Series A redeemable preference shares			(2.6)				(2.6)
Change in carrying value of Series B preference shares			(36.4)
Redemption of Series A redeemable preference shares			13.8
Other, net			(0.1)
Net change in foreign currency translation				(61.9)
Balance at end of year at Dec. 31, 2018				(202.4)
Accumulated other comprehensive income (loss), other
Net change, other							(61.9)
Balance, end of period at Dec. 31, 2018							(202.4)
Total common shareholder's equity at Dec. 31, 2018	$ 1.2	$ 1,089.1	$ 816.6	$ (202.4)	$ 1,704.5		1,704.5
Accumulated other comprehensive income (loss), other
Non-controlling interests						$ 1.7	1.7
Total equity							$ 1,706.2

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operations:
Net (loss) income	$ (16.7)	$ (136.3)	$ 51.8
Adjustments to reconcile net (loss) income to net cash provided from (used for) operations:
Net realized and unrealized investment (losses) gains	20.9	37.7	(50.1)
Amortization of premium on fixed maturity investments	5.8	16.6	21.1
Amortization of intangible assets	15.8	10.2
Depreciation and other amortization	9.5	8.9	6.7
Share-based compensation	2
Revaluation of contingent consideration	(9.6)	(48.8)
Impairment of intangible assets	8	5
Excess of fair value of acquired net assets over cost			(4.3)
Undistributed equity in earnings of unconsolidated affiliates, after-tax			(6.6)
Other operating items:
Net change in loss and loss adjustment expense reserves	203.7	188.3	18.1
Net change in reinsurance recoverable on paid and unpaid losses	(95.7)	(11.1)	(23.6)
Net change in funds held by ceding companies	(48)	(38.9)	(15.1)
Net change in unearned insurance and reinsurance premiums	195.5	55.7	60.8
Net change in ceded reinsurance payable	93.4	22.8	11.5
Net change in ceded unearned insurance and reinsurance premiums	(76.3)	14.4	(1.9)
Net change in insurance and reinsurance premiums receivable	(144.1)	(102.3)	(95.4)
Net change in deferred acquisition costs	(28.4)	(27)	(14.2)
Net change in funds held under reinsurance treaties	42.7	5.8	13
Net change in current and deferred income taxes, net	18.7	13.3	(12)
Net change in other assets and liabilities, net	(89.2)	(50.3)	(6.6)
Net cash provided from (used for) operations	108	(36)	(46.8)
Cash flows from investing activities:
Net change in short-term investments	(90.1)	(1)	(202.7)
Sales of fixed maturities and convertible fixed maturity investments	1,373.1	1,422.4	2,454.7
Maturities, calls, and paydowns of fixed maturity and convertible fixed maturity investments	102.7	292.2	141.8
Sales of common equity securities	353.1	87.6	851.6
Distributions and redemptions of other long-term investments	72.4	40.6	27.9
Sales of consolidated subsidiaries and unconsolidated affiliates, net of cash sold		0.8	173.5
Contributions to other long-term investments	(160.1)	(167.5)	(73.5)
Purchases of common equity securities	(505.7)	(222.3)	(232.7)
Purchases of fixed maturities and convertible fixed maturity investments	(1,321.3)	(1,018.5)	(3,192.3)
Purchases of consolidated subsidiaries, net of cash acquired	(7.9)	(354.5)	27.5
Net change in unsettled investment purchases and sales	(1.2)	(7.9)	38.4
Other, net	(4.9)	(5.9)	4.3
Net cash (used for) provided from investing activities	(189.9)	66	18.5
Cash flows from financing activities:
Proceeds from issuance of common shares, net of expenses	61.2
Redemption of common shares from CM Bermuda	(164)
Return of capital to CM Bermuda	(1.6)
Capital contribution from former parent	1.4	13.3	89.6
Issuance of debt, net of issuance costs		340.8	392.4
Redemption of SIG Preference Shares		(250)
Repayment of debt		(3.8)	(405.6)
Payment of contingent consideration	(4.4)	(30.6)
Change in collateral held on Interest Rate Cap		(1.1)	(0.5)
Cash dividends paid to former parent			(27)
Cash dividends paid to non-controlling interests		(14.1)	(18.8)
Other, net		(0.9)	0.8
Net cash (used for) provided from financing activities	(6.6)	53.6	30.9
Effect of exchange rate changes on cash	(9.9)	9.9	(9.4)
Net (decrease) increase in cash during year	(98.4)	93.5	(6.8)
Cash and restricted cash balance at beginning of year	230.6	137.1	143.9
Cash and restricted cash balance at end of year	132.2	230.6	137.1
Supplemental disclosures of cash flow information:
Income taxes paid	19.1	16.7	8.3
Interest paid	30	$ 22	$ 31.6
Series B preference shares
Cash flows from financing activities:
Proceeds from issuance of Series B preference shares	195.8
Series A redeemable preference shares
Cash flows from financing activities:
Redemption of Series A redeemable preference shares	$ (95)

General

General	12 Months Ended
	Dec. 31, 2018
General
General	Note 1. General Sirius International Insurance Group, Ltd. (the “Company”) is a Bermuda exempted company whose principal businesses are conducted through its wholly and majority owned insurance subsidiaries (collectively with the Company, “Sirius Group”). The company provides insurance, reinsurance, and insurance services on a worldwide basis.

Summary of significant accounti

Summary of significant accounting policies	12 Months Ended
	Dec. 31, 2018
Summary of significant accounting policies
Summary of significant accounting policies	Note 2. Summary of significant accounting policies Basis of presentation The accompanying consolidated financial statements at December 31, 2018, have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) and the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). The accompanying consolidated financial statements present the consolidated results of operations, financial condition, and cash flows of the Company and its subsidiaries and those entities in which the Company has control and a majority economic interest as well as those variable interest entities (“VIEs”) that meet the requirements for consolidation. All intercompany transactions have been eliminated in consolidation. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Certain amounts in the prior period financial statements have been reclassified to conform to the current presentation. Tabular dollar amounts are in millions, with the exception of share and per share amounts. All amounts are reported in U.S. dollars, except where noted otherwise. Significant accounting policies Investment securities Sirius Group’s invested assets consist of securities and other investments held for general investment purposes. Sirius Group’s portfolio of fixed maturity investments and equity securities held for general investment purposes are classified as trading and are reported at fair value as of the balance sheet date. Changes in unrealized gains and losses are reported pre-tax in revenues. Realized investment gains and losses are accounted for using the first-in first-out method and are reported pre-tax in revenues. Premiums and discounts on all fixed maturity investments are amortized and/or accreted to income over the anticipated life of the investment and are reported in Net investment income. Sirius Group’s invested assets that are measured at fair value include fixed maturity investments, common and preferred equity securities, and other long-term investments, such as interests in hedge funds and private equities. Fair value is defined as the price received to sell an asset in an orderly transaction between market participants at the measurement date reflecting the highest and best use valuation concepts. In determining its estimates of fair value, Sirius Group uses a variety of valuation approaches and inputs. Whenever possible, Sirius Group estimates fair value using valuation methods that maximize the use of quoted prices and other observable inputs. Short-term investments Short-term investments consist of money market funds, certificates of deposit and other securities which, at the time of purchase, mature or become available for use within one year. Short-term investments are carried at fair value. Other long-term investments Other long-term investments consist primarily of hedge funds, private equity funds, other investments in limited partnerships and other private equity securities. The fair value of other long-term investments is generally based upon Sirius Group’s proportionate interest in the underlying fund’s net asset value, which is deemed to approximate fair value. In addition, due to a lag in reporting, some of the fund managers, fund administrators, or both, are unable to provide final fund valuations as of the Company’s reporting date. In these circumstances, Sirius Group estimates the return of the current period and uses all credible information available. This includes utilizing preliminary estimates reported by its fund managers and using information that is available to Sirius Group with respect to the underlying investments, as necessary. The changes in fair value are reported in pre-tax revenues in Net unrealized investment (losses). Actual final fund valuations may differ from Sirius Group’s estimates and these differences are recorded in the period they become known as a change in estimate. Other long-term investments also includes certain investments that are eligible for the equity method where Sirius Group has elected the fair value option under which the changes in fair value are reported in pre-tax revenues in Net unrealized investment (losses). (See Note 19 .) Cash Cash includes amounts on hand and demand deposits with banks and other financial institutions. Amounts presented in the statement of cash flows are shown net of balances acquired and sold in the purchase or sale of the Company’s consolidated subsidiaries. Restricted cash Restricted cash represents cash and cash equivalents that Sirius Group is (a) holding for the benefit of a third party and is legally or contractually restricted as to withdrawal or usage for general corporate purposes; and (b) not replaceable by another type of asset other than cash or cash equivalents, under the terms of Sirius Group’s contractual arrangements with such third parties. Insurance and reinsurance operations Premiums written are recognized as revenues and are earned ratably over the term of the related policy or reinsurance treaty. Premiums written include amounts reported by brokers, managing general underwriters, and ceding companies, supplemented by the Company’s own estimates of premiums where reports have not been received. The determination of premium estimates requires a review of the Company’s experience with the ceding companies, managing general underwriters, familiarity with each market, the timing of the reported information, an analysis and understanding of the characteristics of each class of business, and management’s judgment of the impact of various factors, including premium or loss trends, on the volume of business written and ceded to the Company. On an ongoing basis, the Company’s underwriters review the amounts reported by these third parties for reasonableness based on their experience and knowledge of the subject class of business, taking into account the Company’s historical experience with the brokers or ceding companies. Unearned premiums represent the portion of premiums written that are applicable to future insurance or reinsurance coverage provided by policies or treaties in force. Deferred acquisition costs represent commissions, premium taxes, brokerage expenses, and other costs which are directly attributable to the successful acquisition or renewal of contracts and vary with the production of business. These costs are deferred and amortized over the period during which the premiums are earned. Amortization of Deferred acquisition costs are shown net of contractual commissions earned on reinsurance ceded within Insurance and reinsurance acquisition expenses. Deferred acquisition costs are limited to the amount expected to be recovered from future earned premiums and anticipated investment income. This limitation is referred to as a premium deficiency. A premium deficiency is recognized if the sum of expected loss and loss adjustment expenses (“LAE”), expected dividends to policyholders, unamortized acquisition costs, and maintenance costs exceeds related unearned premiums and anticipated investment income. A premium deficiency is recognized by charging any unamortized acquisition costs to expense to the extent required in order to eliminate the deficiency. If the premium deficiency exceeds unamortized acquisition costs, then a liability is accrued for the excess deficiency. Other underwriting expenses consist primarily of personnel related expenses (including salaries, benefits, and variable compensation expense) and other general operating expenses related to the underwriting operations. Losses and LAE are charged against income as incurred. Unpaid insurance loss and LAE reserves are based on estimates (generally determined by claims adjusters, legal counsel, and actuarial staff) of the ultimate costs of settling claims, including the effects of inflation and other societal and economic factors. Unpaid reinsurance loss and LAE reserves are based primarily on reports received from ceding companies and actuarial projections. Unpaid loss and LAE reserves represent management’s best estimate of ultimate losses and LAE, net of estimated salvage and subrogation recoveries, if applicable. Such estimates are regularly reviewed and updated and any resulting adjustments are reflected in current operations. The process of estimating loss and LAE reserves involves a considerable degree of judgment by management and the ultimate amount of expense to be incurred could be greater or less than the amounts currently reflected in the financial statements. Sirius Group enters into ceded reinsurance contracts to protect its businesses from losses due to concentration of risk, to manage its operating leverage ratios and to limit losses arising from catastrophic events. Such reinsurance contracts are executed through excess of loss treaties and catastrophe contracts under which the reinsurer indemnifies for a specified part or all of certain types of losses over stipulated amounts arising from any one occurrence or event. Sirius Group has also entered into quota share treaties with reinsurers under which all risks meeting prescribed criteria are covered on a pro-rata basis. The amount of each risk ceded by Sirius Group is subject to maximum limits which vary by line of business and type of coverage. Although these contracts protect Sirius Group, these reinsurance arrangements do not relieve Sirius Group from its primary obligations to insureds. Amounts recoverable from reinsurers are estimated in a manner consistent with the claim liability associated with the reinsured policies. The collectability of reinsurance recoverables is subject to the solvency of the reinsurers. Sirius Group is selective in regard to its reinsurers, principally placing reinsurance with those reinsurers with a strong financial condition, industry ratings, and underwriting ability. Management monitors the financial condition and ratings of its reinsurers on an ongoing basis. Reinsurance premiums, commissions, expense reimbursements, and reserves related to reinsured business are accounted for on a basis consistent with those used in accounting for the original policies issued and the terms of the reinsurance contracts. Reinsurance premiums ceded are expensed over the period the reinsurance coverage is provided. Ceded unearned insurance and reinsurance premiums represent the portion of premiums ceded applicable to the unexpired term of policies in force. Funds held by ceding companies represent amounts due to Sirius Group in connection with certain assumed reinsurance agreements in which the ceding company retains a portion of the premium to provide security against future loss payments. The funds held by ceding companies are generally invested by the ceding company and a contractually agreed interest amount is credited to Sirius Group and recognized as investment income. Funds held under reinsurance treaties represent contractual payments due from Sirius Group that have been retained to secure such obligations. Accruals for contingent commission liabilities are established for reinsurance contracts that provide for the stated commission percentage to increase or decrease based on the loss experience of the contract. Changes in the estimated liability for contingent commission arrangements are recorded as Insurance and reinsurance acquisition expenses. Accruals for contingent commission liabilities are determined through the review of the contracts that have these adjustable features and are estimated based on expected loss and LAE. Derivative financial instruments Sirius Group holds derivative financial instruments for both risk management and investment purposes. Sirius Group recognizes all derivatives as either assets or liabilities, measured at fair value, in the Consolidated Balance Sheets. Changes in the fair value of derivative instruments are recognized in current period pre-tax income. Deferred software costs Sirius Group capitalizes costs related to computer software developed for internal use during the application development stage of software development projects. These costs generally consist of certain external, payroll, and payroll-related costs. Sirius Group begins amortization of these costs once the project is completed and ready for its intended use. Amortization is on a straight-line basis and over a useful life of three to five years. As of December 31, 2018 and 2017, Sirius Group had unamortized deferred software costs of $9.3 million and $10.5 million, respectively. For the years ended December 31, 2018, 2017, and 2016, Sirius Group had amortization expenses of $4.8 million, $4.6 million, and $3.2 million, respectively, related to software developed for internal use. Share-based compensation Share-based compensation plans are accounted for in accordance with the Accounting Standards Codification (“ASC”)Topic 718 “Compensation - Stock Compensation” Sirius Group recognizes the compensation expense for stock restricted share and performance share awards based on the fair value of the award on the date of grant over the requisite service period. Awards under both the 2016 Long Term Incentive Plan and 2018 Omnibus plan vest over three years. The Company has elected to recognize forfeitures as they occur rather than estimating service-based forfeitures over the requisite service period. Defined benefit plans Certain Sirius Group employees in Europe participate in defined benefit plans. The liability for the defined benefit plans that is reported on the Consolidated Balance Sheets is the current value of the defined benefit obligation at the end of the period, reduced by the fair value of the plan’s managed assets, with adjustments for actuarial gains and losses. The defined benefit pension plan obligation is calculated annually by independent actuaries. The current value of the defined benefit obligation is determined through discounting of expected future cash flows, using interest rates determined by current market interest rates. The service costs and actuarial gains and losses on the defined benefit obligation and the fair value on the plan assets are recognized in the Consolidated Statements of Income. Commission and other revenue recognition Sirius Group recognizes agent commissions and other revenues when it has fulfilled all of its obligations necessary to earn the revenue and when it can both reliably estimate the amount of revenue, net of any amounts expected to be uncollectible, and any amounts associated with expected cancellations. Earnings per share Earnings per share is reported in accordance with ASC Topic 260 Earnings per Share . Basic earnings (loss) per share is computed by dividing net income (loss) available to Sirius Group common shareholders by the weighted-average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income available to Sirius Group common shareholders by the weighted-average number of common shares outstanding adjusted to give effect to potentially dilutive securities. (See Note 16 .) Federal and foreign income taxes Some of Sirius Group’s subsidiaries file consolidated tax returns in the United States. Sirius Group has subsidiaries in various jurisdictions, including but not limited to Sweden, the United Kingdom, and Luxembourg, which are subject to applicable taxes in those jurisdictions. Deferred tax assets and liabilities are recorded when a difference between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts for tax purposes exists, and for other temporary differences. The deferred tax asset or liability is recorded based on tax rates expected to be in effect when the difference reverses. The deferred tax asset is recognized when it is more likely than not that it will be realized. The Tax Cuts and Jobs Act (the “TCJA”) which was enacted into law in the U.S. in December 31, 2017 includes a new base erosion and anti-abuse tax (“BEAT”), which is essentially a minimum tax that is potentially applicable to certain otherwise deductible payments made by U.S. entities to non-U.S. affiliates, including cross-border interest payments and reinsurance premiums. The statutory BEAT rate is 5% in 2018 and will rise to 10% in 2019-2025 and then 12.5% in 2026 and thereafter. The TCJA also includes provisions for Global Intangible Low-Taxed Income (“GILTI”) under which taxes on foreign income are imposed on the excess of a deemed return on tangible assets of certain foreign subsidiaries. Consistent with accounting guidance, Sirius Group will treat BEAT as an in period tax charge when incurred in future periods for which no deferred taxes need to be provided and has made an accounting policy election to treat GILTI taxes in a similar manner. Foreign currency exchange The U.S. dollar is the functional currency for Sirius Group’s businesses except for Sirius International Insurance Corporation (“Sirius International”), Lloyd’s Syndicate 1945 (“Syndicate 1945”), several subsidiaries of International Medical Group Acquisition, Inc. (“IMG”), and the Canadian reinsurance operations of Sirius America Insurance Company (“Sirius America”). Sirius Group also invests in securities denominated in foreign currencies. Assets and liabilities recorded in these foreign currencies are translated into U.S. dollars at exchange rates in effect at the balance sheet date, and revenues and expenses are converted using the average exchange rates for the period. Net foreign exchange gains and losses arising from the translation of functional currencies are reported in shareholder’s equity, in Accumulated other comprehensive (loss). As of December 31, 2018 and 2017, Sirius Group had Net unrealized foreign currency translation losses of $202.4 million and $140.5 million, respectively, recorded in Accumulated other comprehensive (loss) on its Consolidated Balance Sheets. Assets and liabilities relating to foreign operations are remeasured into the functional currency using current exchange rates; revenues and expenses are remeasured into the functional currency using the weighted average exchange rate for the period. The resulting exchange gains and losses are reported as a component of net income in the period in which they arise within Net realized investment gains (losses), Net unrealized investment (losses), and Net foreign exchange gains (losses). The following rates of exchange for the U.S. dollar have been used for translation of assets and liabilities for subsidiaries whose functional currency is not the U.S. dollar at December 31, 2018 and 2017: Closing Closing Currency Rate 2018 Rate 2017 Swedish kronor 8.9397 8.2051 British pound 0.7850 0.7398 Euro 0.8734 0.8339 Canadian dollar 1.3614 1.2556 Goodwill and intangible assets Goodwill represents the excess of the purchase price of an acquisition over the fair value of the identifiable net assets acquired and is assigned to the applicable reporting unit at acquisition. Goodwill is evaluated for impairment on an annual basis. Sirius Group initially evaluates goodwill using a qualitative approach to determine whether it is more likely than not that the fair value of goodwill is greater than its carrying value. If the results of the qualitative evaluation indicate that it is more likely than not that the carrying value of goodwill exceeds its fair value, Sirius Group performs the quantitative test for impairment. Indefinite‑lived intangible assets are evaluated for impairment similar to goodwill. Finite‑lived intangible are amortized on a straight‑line basis over their estimated useful lives. The amortization periods approximate the period over which Sirius Group expects to generate future net cash inflows from the use of these assets. All of these assets are subject to impairment testing for the impairment or disposal of long‑lived assets when events or conditions indicate that the carrying value of an asset may not be fully recoverable from future cash flows. If goodwill or intangible assets are impaired, such assets are written down to their fair values with the related expense recorded in Sirius Group’s results of operations. (See Note 10 .) Non‑controlling interests Non‑controlling interests consist of the ownership interests of non‑controlling shareholders in consolidated subsidiaries, and are presented separately on the balance sheet. Mezzanine equity In connection with significant transactions the Company has entered into, the Company has issued preference shares. (See Note 3.) At the date of issuance, Sirius Group evaluates the conversion and redemption features associated with the preference shares in order to determine the balance sheet classification of the instrument. The preference shares are classified outside of permanent equity (as Mezzanine equity) when the preference shares are redeemable at a fixed or determinable price on a fixed or determinable date, at the option of the shareholder or upon the occurrence of an event that is not solely within the control of Sirius Group. Sirius Group accounts for the Series B preference shares outside of permanent equity as Mezzanine equity in the Consolidated Balance Sheets as the ability to settle in common shares cannot be assured. Variable interest entities Sirius Group consolidates a VIE when it has both the power to direct the activities of the VIE that most significantly impact its economic performance and either the obligation to absorb losses or the right to receive returns from the VIE that could potentially be significant to the VIE. An entity in which Sirius Group holds a variable interest is a VIE if any of the following conditions exist: (a) the total equity investment at risk is not sufficient to permit the entity to finance its activities without additional subordinated financial support, (b) as a group, the holders of equity investment at risk lack either the direct or indirect ability through voting rights or similar rights to make decisions about an entity’s activities that most significantly impact the entity’s economic performance or the obligation to absorb the expected losses or right to receive the expected residual returns, or (c) the voting rights of some investors are disproportionate to their obligation to absorb the expected losses of the entity, their rights to receive the expected residual returns of the entity, or both, and substantially all of the entity’s activities either involve or are conducted on behalf of an investor with disproportionately few voting rights. The primary beneficiary is defined as the variable interest holder that is determined to have the controlling financial interest as a result of having both (a) the power to direct the activities of a VIE that most significantly impact the economic performance of the VIE and (b) the obligation to absorb losses or right to receive benefits from the VIE that could potentially be significant to the VIE. At inception of the VIE, as well as following an event that requires reassessment, Sirius Group determines whether it is the primary beneficiary based on the facts and circumstances surrounding each entity. (See Note 20 .) Recently adopted changes in accounting principles Definition of a business Effective January 1, 2018, Sirius Group adopted Accounting Standards Update (“ASU”) 2017-01, Business Combinations: Clarifying the Definition of a Business (ASC 805), which clarifies the definition of a business and affects the determination of whether acquisitions or disposals are accounted for as assets or as a business. Under the new guidance, when substantially all of the fair value of the assets is concentrated in a single identifiable asset or a group of similar identifiable assets, it is not a business. Sirius Group has applied the guidance in the update when determining the accounting treatment for transactions that have occurred during the year ended December 31, 2018. (See Note 3 ). Financial instruments - recognition and measurement Effective January 1, 2018, Sirius Group adopted ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities (ASC 825-10). The new guidance modifies the guidance for financial instruments, including investments in equity securities. Under the new guidance, all equity securities with readily determinable fair values are required to be measured at fair value with changes therein recognized through current period earnings. In addition, the new guidance requires a qualitative assessment for equity securities without readily determinable fair values to identify impairment, and for impaired equity securities to be measured at fair value. Sirius Group measures its portfolio of investment securities at fair value with changes therein recognized through current period earnings and, accordingly, adoption did not have any impact on its consolidated financial statements. Revenue recognition Effective January 1, 2018, Sirius Group adopted ASU 2014-09, Revenue from Contracts with Customers (ASC 606), which modifies the guidance for revenue recognition. The scope of the new guidance excludes insurance contracts but is applicable to certain fee arrangements as well as commissions and other non-insurance revenues. This guidance impacts the timing of service fee recognition by IMG and ArmadaCorp Capital, LLC (“Armada”). Sirius Group used the modified retrospective transition approach to adopt this guidance, which resulted in the recognition of a cumulative effect of adoption as an adjustment to the beginning balance of retained earnings at the date of initial application of $1.6 million, net of tax. Recent accounting pronouncements Premium amortization on callable debt securities In March 2017, the Financial Accounting Standards Board (“FASB”) issued ASU 2017-08, Premium Amortization on Purchased Callable Debt Securities (ASC 310-20), which changes the amortization period for certain purchased callable debt securities. Under the new guidance, for investments in callable debt securities held at a premium, the premium will be amortized over the period to the earliest call date. The new guidance does not change the amortization period for callable debt securities held at a discount. The new guidance is effective for annual and interim periods beginning after December 15, 2018. We plan to adopt the standard on its effective date of January 1, 2019. We do not expect the standard to have a material impact on our reported consolidated financial condition, results of operations, cash flows or required disclosures. Credit losses In June 2016, the FASB issued ASU 2016‑13, Measurement of Credit Losses on Financial Instruments (ASC 326), which establishes new guidance for the recognition of credit losses for financial assets measured at amortized cost. The new guidance, which applies to financial assets that have the contractual right to receive cash, including reinsurance receivables, requires reporting entities to estimate the credit losses expected over the life of a credit exposure using historical information, current information and reasonable and supportable forecasts that affect the collectability of the financial asset. The new guidance is effective for annual and interim periods beginning after December 15, 2019. We plan to adopt the standard on its effective date of January 1, 2020. We do not expect the standard to have a material impact on our reported consolidated financial condition, results of operations, cash flows or required disclosures. Leases In February 2016, the FASB issued ASU 2016-02, Leases (ASC 842). The new guidance requires lessees to recognize lease assets and liabilities on the balance sheet for both operating and financing leases, with the exception of leases with an original term of 12 months or less. Under existing guidance, recognition of lease assets and liabilities is not required for operating leases. The new guidance requires that lease assets and liabilities to be recognized and measured initially based on the present value of the lease payments. The new guidance is effective for annual and interim periods beginning after December 15, 2018. Sirius Group will adopt this guidance as of January 1, 2019. We estimate adoption of this standard will result in recognition of additional net lease assets and lease liabilities of approximately $37.7 million. We do not believe this standard will materially affect our consolidated net earnings.

Significant transactions

Significant transactions	12 Months Ended
	Dec. 31, 2018
Significant transactions
Significant transactions	Note 3. Significant transactions Easterly Acquisition Corp . On November 5, 2018, the Company completed the transactions contemplated by the definitive Agreement and Plan of Merger (“Merger Agreement”). Under the terms of the Merger Agreement, Easterly Acquisition Corp. (“Easterly”) merged with Sirius Acquisitions Holding Company III and became a wholly-owned subsidiary of the Company (the “Merger”). Upon the closing of the Merger, Easterly’s common stock was exchanged for the Company’s common shares at an exchange ratio (the “Exchange Ratio”) calculated as (i) the amount of cash per public share of Easterly common stock in Easterly’s trust account (the “Trust Account”) immediately prior to the closing of the Merger divided by (ii) (x) 1.05 multiplied by (y) Sirius Group’s adjusted diluted book value per common share as of September 30, 2018 (“Sirius Group September 30 Adjusted DBVPS”). Based on the Sirius Group September 30 Adjusted DBVPS, estimated as of September 30, 2018, and funds in the Trust Account on November 5, 2018, the Exchange Ratio was equal to 0.609. Following the Merger, the Company’s common shares are traded on the Nasdaq Global Select Market under the symbol “SG.” Easterly held a special meeting of Easterly stockholders on November 2, 2018 to approve the completion of the transactions contemplated by the Merger Agreement. Easterly Acquisition Sponsor, LLC (the “Sponsor”) and Easterly’s other stockholders approved each of the proposals presented at the special meeting. After the special meeting, but prior to the consummation of the Merger, certain Easterly public stockholders exercised their redemption rights as provided for by Easterly’s charter. In total, out of the Trust Account balance of $149.0 million, there were $109.7 million of redemptions by Easterly public stockholders, which decreased the amount of cash in the Trust Account available for general corporate purposes following the Merger. After the redemption of shares held by Easterly’s public stockholders, there was $39.3 million in the Trust Account. This resulted in the issuance of 2,280,241 common shares to Easterly public stockholders. Pursuant to the letter agreement among Easterly, the Sponsor and the Company (the “Sponsor Letter”), the private placement warrants issued to the Sponsor at the closing of the Merger were cancelled. Pursuant to the Merger Agreement, each issued and outstanding public warrant was converted into a warrant exercisable for Company common shares. The number of Company common shares subject to converted warrants was equal to the number of shares of Easterly common stock subject to each Easterly warrant immediately prior to the closing of the Merger multiplied by the Exchange Ratio, and each converted warrant had an exercise price per Company common share equal to the exercise price per share of Easterly common stock subject to such Easterly warrant immediately prior to the closing of the Merger divided by the Exchange Ratio. This resulted in the issuance of 6,088,535 converted warrants. Sirius Group Private Placement In connection with the closing of the Merger, the Company completed a private placement of Series B preference shares, common shares, and warrants (the “Sirius Group Private Placement”) at a price per share equal to (i) 1.05 multiplied by (ii) the Sirius Group September 30 Adjusted DBVPS, or $17.22447. Investors in the Sirius Group Private Placement included affiliated funds of Gallatin Point Capital, The Carlyle Group, Centerbridge Partners, L.P. and Bain Capital Credit (the "Preference Share Investors"), together with certain employees, directors and “friends & family. The Sirius Group Private Placement raised proceeds of $226.1 million, resulting in the purchase of: · 11,901,670 Series B preference shares with a cost basis of $195.8 million, · 1,225,954 of Common shares with a cost basis of $20.8 million, · 5,418,434 warrants that are exercisable for common shares for a period of five years after the Merger at a strike price equal to 125% of the per share purchase price, or $21.53 with a cost basis of $9.6 million. · Issuance costs of $2.0 million ESPP In connection with the Merger, Sirius Group implemented the Employee Share Purchase Plan (“ESPP”), which provided all employees of Sirius Group with a one-time opportunity to purchase between 100 and 1,000 Company common shares at a price equal to 85% of market value for the first 100 shares and 100% of market value for the next 900 shares. For this purpose, market value of the Company common shares was equal to 1.05 times the Sirius Group September 30 Adjusted DBVPS. Employees had the option of paying for the shares upfront or, in the case of employees who are not executive officers, through a loan that is repaid over a two-year period through payroll deductions. Through the ESPP, 405 employees purchased 149,236 Company common shares prior to the consummation of the Merger, with a cost basis of $2.6 million. (See Note 14 .) Gross proceeds of the cash in the Easterly Trust Account assumed by Sirius Group upon the closing of the Merger, the Sirius Group Private Placement, and the ESPP sum to $268.0 million. Common shares redemption agreement In connection with the Merger, the Company and CM Bermuda Ltd. (“CM Bermuda”), the sole holder of the Company’s common shares prior to the Merger, entered into a redemption agreement, dated November 2, 2018 (the “CM Bermuda Redemption Agreement”), pursuant to which, effective as of the closing of the Merger, the Company redeemed 9,519,280 of the Company’s common shares at a price per share equal to $17.22447 for $164.0 million, which were paid on November 16, 2018. Also in connection with the Merger, on November 16, 2018 the Company completed a post-closing adjustment of $1.6 million that was settled in cash with CM Bermuda based on the reported book value per share of $16.44 as of September 30, 2018, pursuant to the Merger Agreement. Sirius Group incurred certain contractual costs associated with the Merger of $9.0 million and $7.1 million of various legal, advisory, and other consulting costs for the Merger and the Private Placement that were charged to Additional paid-in surplus. Series A preference shares redemption agreement In connection with the Merger, the Company, IMG Acquisition Holdings, LLC (“IMGAH”) and Sirius Acquisitions Holding Company II completed the transactions contemplated by its previously announced redemption agreement and the Company redeemed all of the outstanding Series A redeemable preference shares, which were held by IMGAH, for $95.0 million in cash. Effective as of the completion of the redemption, the parties terminated the registration rights agreement and the shareholder’s agreement between the Company and IMGAH. In addition, the parties agreed that any remaining contingent consideration in respect of the IMG acquisition, will be paid in cash, not in Series A redeemable preference shares as previously contemplated in the agreement in respect of the IMG acquisition. (See “ IMG ”) below. WRM America Indemnity Company, Inc. On August 16, 2018, Sirius Group acquired 100% ownership of WRM America Indemnity Company, Inc. (“WRM America”) from WRM America Indemnity Holding Company, LLC for $16.9 million in cash. WRM America is a New York-domiciled insurer with a run-off book of business mainly comprised of general liability, educator’s legal liability, automobile liability and physical damage, property and excess catastrophe liability. As part of the purchase of WRM America, Sirius Group acquired $3.1 million of indefinite lived intangible assets related to insurance licenses. The Phoenix Holdings Ltd. On July 2, 2018, Sirius Group terminated its share purchase agreement to acquire a controlling interest in The Phoenix Holdings Ltd. As a result of the termination, Sirius Group recognized an income statement charge for the $4.5 million call option it held during 2018. IMG On May 26, 2017, Sirius Group acquired 100% ownership of IMG and its subsidiaries, a leading provider of global travel medical insurance products and assistance services. The purchase of IMG was undertaken to expand on Sirius Group’s existing Global Accident and Health (“Global A&H”) platform and to accelerate the growth strategy of the Global A&H international insurance business, to add service fee revenues to Sirius Group’s existing risk-transfer based insurance revenues, and to gain access to IMG’s distribution networks and client base. Total consideration consisted of $250.8 million of cash, $100.0 million of Series A redeemable preference shares that are convertible into common shares (as explained further below), and up to $50.0 million of contingent consideration (“IMG Earnout”), payable in Series A redeemable preference shares, which was stated as $43.1 million at fair value at acquisition date, resulting in a total enterprise value of $393.9 million. Sirius Group assumed certain IMG debt of $129.5 million (“Debt Assumption”), reducing its cash consideration by that amount and resulting in a total equity consideration of $264.4 million. Concurrently with the transaction, IMG’s subsidiary International Medical Group - Stop-Loss, Inc. (“IMG – Stop Loss”) was sold to Certus Management Group, Inc. (“Certus”). As part of the sale of IMG – Stop Loss, Sirius Group issued a secured promissory note of $9.0 million to Certus. The following table summarizes the fair value of net assets acquired and allocation of purchase price of IMG, measured as of the acquisition date: (Millions) Total Useful Life Purchase price Cash paid $ 250.8 Series A redeemable preference shares 100.0 Contingent consideration 43.1 Total enterprise value 393.9 Less: Debt assumed (129.5) Total purchase price (a) $ 264.4 Assets acquired Total investments $ 41.0 Cash 10.5 Accrued investment income 0.2 Insurance and reinsurance premiums receivable 1.6 Deferred acquisition costs 2.9 Other assets 12.9 Intangible asset – distribution relationships 91.0 13.0 years Intangible asset – customer relationships 17.0 12.5 years Intangible asset – trade names 27.0 Intangible asset – technology 10.0 5.0 years Total assets acquired 214.1 Liabilities assumed Loss and loss adjustment expense reserves 14.3 Unearned insurance and reinsurance premiums 9.8 Deferred tax liability 55.9 Debt 129.5 Other liabilities 18.2 Total liabilities assumed 227.7 Net assets acquired (b) (13.6) Goodwill (a)-(b) $ 278.0 The goodwill balance is primarily attributed to IMG’s assembled workforce and access to the supplemental healthcare and medical travel insurance market. None of the goodwill recognized is expected to be deductible for income tax purposes. The IMG Earnout is payable, if earnings before interest expense, taxes, depreciation and amortization (“EBITDA”) of IMG exceed amounts defined in the purchase agreement for each year during the three year period ending December 31, 2019. As part of the Series A preference shares redemption agreement, the parties agreed that any remaining contingent consideration in respect of the IMG acquisition, will be paid in cash, not in Series A redeemable preference shares, following the redemption, as previously contemplated in the agreement in respect of the IMG acquisition. On November 8, 2018, the Company paid $3.5 million to IMGAH for the contingent payment for the 2017 calendar year. At December 31, 2018 the IMG Earnout liability was remeasured at a fair value of $19.9 million and is reflected within Other liabilities. As a result of the remeasurement of the IMG Earnout, Sirius Group recorded $6.1 and $13.6 million in Gain on revaluation of contingent consideration in 2018 and 2017, respectively. During 2018, Sirius Group obtained $136.0 million, or 7%, of its gross written premiums through IMG. During 2017 and 2016, Sirius Group received 11% and 14% of its gross written premiums through IMG, respectively. During 2017, IMG’s revenues and net income after acquisition, inclusive of intangible asset amortization expenses, were $79.6 million and $13.3 million, respectively. Series A Redeemable Preference Shares As a part of the IMG acquisition, Sirius Group issued Series A redeemable preference shares, with 150,000 shares authorized and 100,000 issued at issuance date, with liquidation preference of $1,000 per preference share (“Liquidation Preference”). Up to 50,000 Series A redeemable preference shares were available pursuant to the IMG Earnout. The Series A redeemable preference shares participated in dividends on an as‑converted basis with common shares and other shares junior to the Series A redeemable preference shares. On November 5, 2018, the Company, redeemed all of the outstanding Series A redeemable preference shares, which were held by IMGAH, for $95.0 million in cash. Effective as of the completion of the redemption, the parties terminated the registration rights agreement and the shareholder’s agreement between the Company and IMGAH. The Liquidation Preference of the Series A redeemable preference shares was reflected as Mezzanine equity in the balance sheet as at December 31,2017. It was not subject to fair value or remeasurement, except for accrued dividends. At December 31, 2017, the Series A redeemable preference shares are carried at $106.1 million. Supplemental Pro Forma Information The following table presents unaudited pro forma consolidated information for the years ended December 31, 2017 and 2016 and assumes the IMG acquisition occurred on January 1, 2016. The pro forma financial information is presented for informational purposes only and does not necessarily reflect the results that would have occurred had the acquisition taken place on January 1, 2016, nor is it necessarily indicative of future results. It does not consider the impact of possible revenue enhancements, expense efficiencies, or synergies that may result from the acquisition of IMG. Unaudited Pro Forma for the Years Ended December 31, (Millions) 2017 2016 Total revenues $ 1,176.8 $ 1,096.0 Net income $ (173.2) $ (4.6) Armada On April 3, 2017, Sirius Group purchased 100% of Armada and its subsidiaries from Armada Enterprises LLC (“Seller”). Armada is an insurance services and health care technology business that creates specialty employee benefit products and serves to strengthen health care coverage and access. The purchase of Armada was undertaken to expand and accelerate the growth of Sirius Group’s Global A&H platform in the United States, to diversify Sirius Group’s revenues to include fee based revenues, and to gain access to Armada’s distribution networks. Total consideration for the acquisition consisted of (1) the purchase of 50% of Armada by Sirius Group for $123.4 million, and (2) the redemption by Armada of the remaining 50% held by Seller for a redemption price based on a three year contingent earn-out mechanism that could result in an additional payment to Seller of up to $125.0 million (“Armada Earnout”), with fair value of $79.1 million at acquisition date, resulting in a total enterprise value of $202.5 million. The following table summarizes the fair value of net assets acquired and allocation of purchase price of Armada, measured as of the acquisition date: (Millions) Total Useful Life Purchase price Cash paid $ 123.4 Contingent consideration 79.1 Total purchase price (a) $ 202.5 Assets acquired Restricted cash $ 10.4 Other assets 1.2 Intangible asset – distribution relationships 60.0 22.5 years Intangible asset – trade name 16.0 7.5 years Intangible asset – technology 5.5 9.0 years Total assets acquired 93.1 Liabilities assumed Other liabilities 13.3 Total liabilities assumed 13.3 Net assets acquired (b) 79.8 Goodwill (a)-(b) $ 122.7 The goodwill balance is primarily attributed to Armada’s assembled workforce and access to the supplemental healthcare insurance market, and additional synergies to be realized in the future. The goodwill recognized is expected to be deductible for income tax purposes in the future. The contingent consideration is payable if EBITDA of Armada exceeds amounts defined in the redemption agreement. The Armada Earnout can be settled in the Company’s common shares, subject to certain criteria. The Armada Earnout is subject to fair value measurement, which is a component of net income and reflected in Gain on revaluation of contingent consideration. In December 2017, Sirius Group settled approximately 82% of the Armada Earnout with the Seller for $30.6 million. At December 31, 2017, the remaining Armada Earnout liability was remeasured at a fair value of $13.3 million and is reflected in Other liabilities. As a result of the settlement and remeasurement of the Armada Earnout, Sirius Group recorded a $35.2 million gain in Gain on revaluation of contingent consideration in 2017. During 2018, Sirius Group settled $0.9 million of the Armada Earnout. At December 31, 2018 the Armada Earnout was remeasured at a fair value of $8.9 million and is reflected within Other liabilities. As a result of the remeasurement of the Armada Earnout, Sirius Group recorded a $3.5 million Gain on revaluation of contingent consideration in 2018. During 2017, Armada’s revenues and net income after acquisitions, inclusive of intangible asset amortization expenses, were $24.7 million and $9.7 million, respectively. Supplemental Pro Forma Information The following table presents unaudited pro forma consolidated information for the years ended December 31, 2017 and 2016 and assumes the Armada acquisition occurred on January 1, 2016. The pro forma financial information is presented for informational purposes only and does not necessarily reflect the results that would have occurred had the acquisition taken place on January 1, 2016, nor is it necessarily indicative of future results. It does not consider the impact of possible revenue enhancements, expense efficiencies, or synergies that may result from the acquisition of Armada. Unaudited Pro Forma for the Years Ended December 31, (Millions) 2017 2016 Total revenues $ 1,144.6 $ 1,032.6 Net income $ (155.1) $ 45.9 Mount Beacon On May 17, 2016, Sirius Global Solutions Holding Company (“Sirius Global Solutions”) and Florida Specialty Insurance Company partnered to form Florida Specialty Acquisition LLC (“FSA”). Sirius Global Solutions provided $15.8 million to acquire 100% of FSA’s common shares. FSA acquired Mount Beacon Holdings, LLC and its subsidiaries including Mount Beacon Insurance Company (“Mount Beacon”). FSA was dissolved on September 21, 2017. OneBeacon On April 18, 2016, Sirius Group sold its investment in OneBeacon Insurance Group, Ltd. (“OneBeacon”) at fair value to White Mountains Insurance Group (“White Mountains” or “former parent”) for proceeds of $178.3 million in connection with the sale of Sirius Group to CM International Holding Pte. Ltd (“CMIG International”) and recorded $22.1 million of Additional paid‑in surplus for the excess of fair value over the equity method carrying value of OneBeacon. (See Note 19. ). Ashmere On April 18, 2016, Sirius Global Solutions sold Ashmere Insurance Company to White Mountains for proceeds of $18.5 million in connection of the sale of Sirius Group by White Mountains. Symetra On February 1, 2016, Sirius Group sold its investment in Symetra Financial Corporation (“Symetra”) for proceeds of $559.8 million, or $32.00 per share.

Segment information

Segment information	12 Months Ended
	Dec. 31, 2018
Segment information
Segment information	Note 4. Segment information Sirius Group classifies its business into four reportable segments-Global Property, Global A&H, Specialty and Casualty (“Specialty & Casualty”), and Runoff and Other (“Runoff & Other”). The accounting policies of the reportable segments are the same as those used for the preparation of the Company’s consolidated financial statements. The Company’s Global Property, Global A&H, Specialty & Casualty, and Runoff & Other reportable segments each have managers who are responsible for the overall profitability of their respective segments and who are directly accountable to the Company’s chief operating decision maker, the Chief Executive Officer (“CEO”) of the Company. The CEO assesses segment operating performance, allocates capital, and makes resource allocation decisions based on Technical profit (loss), Underwriting profit (loss), and Underwriting profit (loss), including net service fee revenue. Segment results are shown prior to corporate eliminations. Corporate eliminations are shown to reconcile to consolidated Technical profit (loss), consolidated Underwriting profit (loss) and consolidated Underwriting profit (loss), including net service fee revenue. Sirius Group does not allocate its assets by segment, with the exception of goodwill and intangible assets, and, accordingly, investment income is not allocated to each segment. Global Property Global Property consists of Sirius Group’s underwriting lines of business which offer other property insurance and reinsurance, property catastrophe excess reinsurance, and agriculture reinsurance on a worldwide basis: Other Property— Sirius Group participates in the broker market for property reinsurance treaties written on a proportional and excess of loss basis. For Sirius Group’s international business, the book consists of treaty, written on both a proportional and excess of loss basis, facultative, and primary business, primarily in Europe, Asia and Latin America. In the United States, the book predominantly centers on significant participations on proportional and excess of loss treaties mostly in the excess and surplus lines segment of the market. Property Catastrophe Excess —Property catastrophe excess of loss reinsurance treaties cover losses from catastrophic events. Sirius Group writes a worldwide book with the largest concentration of exposure in Europe and the United States. The U.S. book written in Bermuda has a national account focus supporting principally the lower and/or middle layers of large capacity programs. Additionally, Stockholm writes a U.S. book mainly consisting of select small regional and standard lines carriers. The exposures written in the international book are diversified across many countries, regions, perils and layers. Agriculture —Sirius Group provides stop-loss reinsurance coverage to companies writing U.S. government-sponsored multi-peril crop insurance (“MPCI”). Sirius Group’s participation is net of the government’s stop-loss reinsurance protection. Sirius Group also provides coverage for crop-hail and certain named perils when bundled with MPCI business. Sirius Group also writes agriculture business outside of the United States. Global A&H The Global A&H operating segment consists of Sirius Group’s insurance, reinsurance, and managing general underwriting (“MGU”) units (which include Armada and IMG) that offer accident and health products on a worldwide basis: Accident and Health insurance and reinsurance —Sirius Group is an insurer of accident and health insurance business in the United States, either on an admitted or surplus lines basis, as well as international business written through wholly-owned IMG. Armada business is written on an admitted basis. Sirius Group also writes proportional and excess reinsurance treaties covering employer medical stop-loss for per person (specific) and per employer (aggregate) exposures. In addition, Sirius Group writes some medical, health, travel and personal accident coverages written on a treaty, facultative and primary basis. Specialty & Casualty Specialty & Casualty consists of Sirius Group’s insurance and reinsurance underwriting units which offer specialty & casualty product lines on a worldwide basis. Specialty lines represent unique risks where the more difficult and unusual risks are underwritten. Because specialty lines tend to be the more unusual or higher risks, much of the market is characterized by a high degree of specialization: Aviation & Space provides aviation insurance that covers loss of or damage to an aircraft and the aircraft operations’ liability to passengers, cargo and hull as well as to third parties. Additionally, liability arising out of non-aircraft operations such as hangars, airports and aircraft products can be covered. Space insurance primarily covers loss of or damage to a satellite during launch and in orbit. The book consists of treaty, written on both a proportional and excess of loss basis, facultative, and primary business. Marine provides marine reinsurance, primarily written on an excess of loss and proportional basis. Coverage offered includes damage to ships and goods in transit, marine liability lines, and offshore energy industry insurance. Sirius Group also writes yacht business, both on reinsurance and a primary basis. The marine portfolio is diversified across many countries and regions. Trade Credit writes credit and bond reinsurance worldwide. The bulk of the business is traditional short-term commercial credit insurance, covering pre-agreed domestic and export sales of goods and services with typical coverage periods of 60 to 120 days. Losses under these policies are correlated to adverse changes in a respective country’s gross national product. Contingency underwrites contingency insurance for event cancellation and non-appearance, primarily on a primary policy and facultative reinsurance basis. Additionally, coverage for liabilities arising from contractual bonus, prize redemption and over-redemption is also offered. The contingency portfolio is diversified across many countries and regions. Casualty underwrites a cross section of all casualty lines, including general liability, umbrella, auto, workers compensation, professional liability, and other specialty classes, written on a proportional, excess of loss, and primary basis. Surety underwrites commercial surety bonds, including non-construction contract bonds, in a broad range of business segments in the United States. Environmental underwrites a pure environmental insurance book in the United States consisting of four core products that revolve around pollution coverage, which are premises pollution liability, contractor’s pollution liability, contractor’s pollution and professional liability. Runoff & Other Runoff & Other consists of asbestos risks, environmental risks and other long-tailed liability exposures, and underwriting results from Sirius Global Solutions Holding Company (“Sirius Global Solutions”) and its subsidiaries. Sirius Global Solutions is a Connecticut-based division of Sirius Group specializing in the acquisition and management of runoff liabilities for insurance and reinsurance companies, both in the United States and internationally . The following tables summarize the segment results for the years ended December 31, 2018, 2017, and 2016: For the year ended December 31, 2018 Specialty & Runoff & Corporate (Millions) Global Property Global A&H Casualty Other Elimination Total Gross written premiums $ 962.4 $ 500.6 $ 325.1 $ 32.9 $ — $ 1,821.0 Net written premiums $ 655.0 $ 379.8 $ 292.7 $ 29.6 $ — $ 1,357.1 Net earned insurance and reinsurance premiums $ 636.0 $ 357.6 $ 239.5 $ 29.2 $ — $ 1,262.3 Loss and allocated LAE (1) (518.2) (189.0) (142.9) (13.0) — (863.1) Insurance and reinsurance acquisition expenses (121.1) (109.7) (65.5) (2.8) 43.7 (255.4) Technical profit (loss) (3.3) 58.9 31.1 13.4 43.7 143.8 Unallocated LAE (2) (10.5) (5.9) (5.9) (1.6) (13.0) (36.9) Other underwriting expenses (68.2) (27.4) (28.2) (6.3) (16.1) (146.2) Underwriting (loss) income (82.0) 25.6 (3.0) 5.5 14.6 (39.3) Service fee revenue (3) — 115.7 — — (44.7) 71.0 Managing general underwriter unallocated LAE (4) — (14.0) — — 14.0 — Managing general underwriter other underwriting expenses (5) — (16.1) — — 16.1 — General and administrative expenses, MGU + Runoff & Other (6) — (53.6) — (3.1) — (56.7) Underwriting (loss) income, including net service fee income (82.0) 57.6 (3.0) 2.4 — (25.0) Net investment income — — — — — 71.4 Net realized investment gains (losses) — — — — — 2.3 Net unrealized investment (losses) gains — — — — — (23.2) Net foreign exchange gains (losses) — — — — — 22.7 Gain on revaluation of contingent consideration — — — — — 9.6 Other revenue (7) — — — — — 41.7 General and administrative expenses (8) — — — — — (21.2) Intangible asset amortization expenses — — — — — (15.8) Impairment of intangible assets — — — — — (8.0) Interest expense on debt — — — — — (30.8) Pre-tax income (loss) — — — — — $ 23.7 Underwriting Ratios Loss ratio 83.1 % 54.5 % 62.1 % NM NM 71.3 % Acquisition expense ratio 19.0 % 30.7 % 27.3 % NM NM 20.2 % Other underwriting expense ratio 10.7 % 7.7 % 11.8 % NM NM 11.6 % Combined ratio (9) 112.8 % 92.9 % 101.2 % NM NM 103.1 % Goodwill and intangible assets (10) $ — $ 588.1 $ — $ 8.1 $ — $ 596.2 (1) Loss and allocated LAE are part of Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income (the sum of Loss and allocated LAE and Unallocated LAE is equal to Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income). (2) Unallocated LAE are part of Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income (the sum of Loss and allocated LAE and Unallocated LAE is equal to Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income). (3) Service fee revenue is part of Other revenue on the Consolidated Statements of (Loss) Income (the sum of Service fee revenue and Other revenue is equal to Other revenue on the Consolidated Statements of (Loss) Income). (4) Managing general underwriter unallocated LAE represents IMG and Armada generated operating expenses following their integration with the Accident and Health insurance and reinsurance underwriting unit, representing costs associated with the claims process. In prior periods, all Armada and IMG expenses were disclosed within General and administrative expenses, MGU + Runoff & Other. (5) Managing general underwriter other underwriting expenses represent IMG and Armada generated operating expenses following their integration with the Accident and Health insurance and reinsurance underwriting unit, representing costs associated with the underwriting process. In prior periods, all Armada and IMG expenses were disclosed within General and administrative expenses, MGU + Runoff & Other. (6) General and administrative expenses, MGU + Runoff & Other is part of General and administrative expenses on the Consolidated Statements of (Loss) Income (the sum of General and administrative expenses, MGU + Runoff & Other and General and administrative expenses is equal to General and administrative expenses on the Consolidated Statements of (Loss) Income). (7) Other revenue is presented net of Service fee revenue and is comprised mainly of the right of indemnification, gains (losses) from derivatives (see Note 13 ), and the termination of the call option to purchase The Phoenix Holdings, Ltd. (the sum of Service fee revenue and Other revenue is equal to Other revenue on the Consolidated Statements of (Loss) Income). (8) General and administrative expenses are presented net of General and administrative expenses, MGU + Runoff & Other (the sum of General and administrative expenses, MGU + Runoff & Other and General and administrative expenses is equal to General and administrative expenses on the Consolidated Statements of (Loss) Income). (9) Ratios considered not meaningful (“NM”) to Runoff & Other and Corporate Elimination. (10) Sirius Group does not allocate its assets by segment, with the exception of goodwill and intangible assets . For the year ended December 31, 2017 Specialty & Runoff & Corporate (Millions) Global Property Global A&H Casualty Other Elimination Total Gross written premiums $ 732.1 $ 494.6 $ 218.1 $ (5.5) $ — $ 1,439.3 Net written premiums $ 556.2 $ 341.5 $ 193.0 $ (0.5) $ — $ 1,090.2 Net earned insurance and reinsurance premiums $ 564.4 $ 306.8 $ 163.2 $ 0.9 $ — $ 1,035.3 Loss and allocated LAE (1) (499.5) (175.0) (99.6) (11.0) — (785.1) Insurance and reinsurance acquisition expenses (112.9) (89.6) (41.1) 3.5 42.9 (197.2) Technical profit (loss) (48.0) 42.2 22.5 (6.6) 42.9 53.0 Unallocated LAE (2) (12.9) (4.8) (5.3) (3.1) — (26.1) Other underwriting expenses (63.3) (23.4) (16.5) (2.9) — (106.1) Underwriting (loss) income (124.2) 14.0 0.7 (12.6) 42.9 (79.2) Service fee revenue (3) — 65.9 — — (42.9) 23.0 Managing general underwriter unallocated LAE (4) — — — — — — Managing general underwriter other underwriting expenses (5) — — — — — — General and administrative expenses, MGU + Runoff & Other (6) — (44.8) — (4.0) — (48.8) Underwriting (loss) income, including net service fee income (124.2) 35.1 0.7 (16.6) — (105.0) Net investment income — — — — — 56.8 Net realized investment gains (losses) — — — — — (27.2) Net unrealized investment (losses) gains — — — — — (10.5) Net foreign exchange gains (losses) — — — — — 9.2 Gain on revaluation of contingent consideration — — — — — 48.8 Other revenue (7) — — — — — (1.3) General and administrative expenses (8) — — — — — (43.1) Intangible asset amortization expenses — — — — — (10.2) Impairment of intangible assets — — — — — (5.0) Interest expense on debt — — — — — (22.4) Pre-tax income (loss) — — — — — $ (109.9) Underwriting Ratios Loss ratio 90.8 % 58.6 % 64.3 % NM NM 78.4 % Acquisition expense ratio 20.0 % 29.2 % 25.2 % NM NM 19.0 % Other underwriting expense ratio 11.2 % 7.6 % 10.1 % NM NM 10.2 % Combined ratio (9) 122.0 % 95.4 % 99.6 % NM NM 107.6 % Goodwill and intangible assets (10) $ — $ 612.3 $ — $ 5.0 $ — $ 617.3 (1) Loss and allocated LAE are part of Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income (the sum of Loss and allocated LAE and Unallocated LAE is equal to Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income). (2) Unallocated LAE are part of Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income (the sum of Loss and allocated LAE and Unallocated LAE is equal to Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income). (3) Service fee revenue is part of Other revenue on the Consolidated Statements of (Loss) Income (the sum of Service fee revenue and Other revenue is equal to Other revenue on the Consolidated Statements of (Loss) Income). (4) Managing general underwriter unallocated LAE represents IMG and Armada generated operating expenses following their integration with the Accident and Health insurance and reinsurance underwriting unit, representing costs associated with the claims process. In prior periods, all Armada and IMG expenses were disclosed within General and administrative expenses, MGU + Runoff & Other. (5) Managing general underwriter other underwriting expenses represent IMG and Armada generated operating expenses following their integration with the Accident and Health insurance and reinsurance underwriting unit, representing costs associated with the underwriting process. In prior periods, all Armada and IMG expenses were disclosed within General and administrative expenses, MGU + Runoff & Other. (6) General and administrative expenses, MGU + Runoff & Other is part of General and administrative expenses on the Consolidated Statements of (Loss) Income (the sum of General and administrative expenses, MGU + Runoff & Other and General and administrative expenses is equal to General and administrative expenses on the Consolidated Statements of (Loss) Income). (7) Other revenue is presented net of Service fee revenue and is comprised mainly of gains (losses) from derivatives (see Note 13) (the sum of Service fee revenue and Other revenue is equal to Other revenue on the Consolidated Statements of (Loss) Income). (8) General and administrative expenses are presented net of General and administrative expenses, MGU + Runoff & Other (the sum of General and administrative expenses, MGU + Runoff & Other and General and administrative expenses is equal to General and administrative expenses on the Consolidated Statements of (Loss) Income). (9) Ratios considered not meaningful (“NM”) to Runoff & Other and Corporate Elimination. (10) Sirius Group does not allocate its assets by segment, with the exception of goodwill and intangible assets. For the year ended December 31, 2016 Specialty & Runoff & Corporate (Millions) Global Property Global A&H Casualty Other Elimination Total Gross written premiums $ 634.9 $ 436.1 $ 170.7 $ 27.3 $ — $ 1,269.0 Net written premiums $ 514.2 $ 277.6 $ 137.4 $ 8.9 $ — $ 938.1 Net earned insurance and reinsurance premiums $ 481.8 $ 272.2 $ 135.2 $ 0.9 $ — $ 890.1 Loss and allocated LAE (1) (256.6) (164.8) (71.2) (2.6) — (495.2) Insurance and reinsurance acquisition expenses (100.3) (71.7) (37.7) (0.6) — (210.3) Technical profit (loss) 124.9 35.7 26.3 (2.3) — 184.6 Unallocated LAE (2) (11.9) (6.8) (4.4) (1.0) — (24.1) Other underwriting expenses (65.1) (23.3) (15.1) (3.8) — (107.3) Underwriting (loss) income 47.9 5.6 6.8 (7.1) — 53.2 Service fee revenue (3) — — — 4.3 — 4.3 Managing general underwriter unallocated LAE (4) — — — — — — Managing general underwriter other underwriting expenses (5) — — — — — — General and administrative expenses, MGU + Runoff & Other (6) — — — (6.2) — (6.2) Underwriting (loss) income, including net service fee income 47.9 5.6 6.8 (9.0) — 51.3 Net investment income — — — — — 56.2 Net realized investment gains (losses) — — — — — 288.3 Net unrealized investment (losses) gains — — — — — (238.2) Net foreign exchange gains (losses) — — — — — (11.0) Gain on revaluation of contingent consideration — — — — — — Other revenue (7) — — — — — 4.8 General and administrative expenses (8) — — — — — (78.9) Intangible asset amortization expenses — — — — — — Impairment of intangible assets — — — — — — Interest expense on debt — — — — — (34.6) Pre-tax income (loss) — — — — — $ 37.9 Underwriting Ratios Loss ratio 55.7 % 63.0 % 55.9 % NM NM 58.3 % Acquisition expense ratio 20.8 % 26.3 % 27.9 % NM NM 23.6 % Other underwriting expense ratio 13.5 % 8.6 % 11.2 % NM NM 12.1 % Combined ratio (9) 90.0 % 97.9 % 95.0 % NM NM 94.0 % Goodwill and intangible assets (10) $ — $ — $ — $ 5.0 $ — $ 5.0 (1) Loss and allocated LAE are part of Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income (the sum of Loss and allocated LAE and Unallocated LAE is equal to Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income). (2) Unallocated LAE are part of Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income (the sum of Loss and allocated LAE and Unallocated LAE is equal to Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income). (3) Service fee revenue is part of Other revenue on the Consolidated Statements of (Loss) Income (the sum of Service fee revenue and Other revenue is equal to Other revenue on the Consolidated Statements of (Loss) Income). (4) Managing general underwriter unallocated LAE represents IMG and Armada generated operating expenses following their integration with the Accident and Health insurance and reinsurance underwriting unit, representing costs associated with the claims process. In prior periods, all Armada and IMG expenses were disclosed within General and administrative expenses, MGU + Runoff & Other. (5) Managing general underwriter other underwriting expenses represent IMG and Armada generated operating expenses following their integration with the Accident and Health insurance and reinsurance underwriting unit, representing costs associated with the underwriting process. In prior periods, all Armada and IMG expenses were disclosed within General and administrative expenses, MGU + Runoff & Other. (6) General and administrative expenses, MGU + Runoff & Other is part of General and administrative expenses on the Consolidated Statements of (Loss) Income (the sum of General and administrative expenses, MGU + Runoff & Other and General and administrative expenses is equal to General and administrative expenses on the Consolidated Statements of (Loss) Income). (7) Other revenue is presented net of Service fee revenue and is comprised mainly of gains (losses) from derivatives (see Note 13 ) (the sum of Service fee revenue and Other revenue is equal to Other revenue on the Consolidated Statements of (Loss) Income). (8) General and administrative expenses are presented net of General and administrative expenses, MGU + Runoff & Other (the sum of General and administrative expenses, MGU + Runoff & Other and General and administrative expenses is equal to General and administrative expenses on the Consolidated Statements of (Loss) Income). (9) Ratios considered not meaningful (“NM”) to Runoff & Other and Corporate Elimination. (10) Sirius Group does not allocate its assets by segment, with the exception of goodwill and intangible assets. The following tables provide summary information regarding net premiums written by client location and underwriting location by reportable segment for the years ended December 31, 2018, 2017, and 2016: For the year ended December 31, 2018 Specialty & Runoff & (Millions) Global Property Global A&H Casualty Other Total Net written premiums by client location: United States $ 284.4 $ 307.7 $ 173.4 $ 29.2 $ 794.7 Europe 171.3 30.4 74.8 — 276.5 Canada, the Caribbean, Bermuda and Latin America 78.3 12.5 12.8 — 103.6 Asia and Other 121.0 29.2 31.7 0.4 182.3 Total net written premium by client location $ 655.0 $ 379.8 $ 292.7 $ 29.6 $ 1,357.1 Net written premiums by underwriting location: United States $ 31.6 $ 109.5 $ 9.8 $ 29.2 $ 180.1 Europe 304.9 224.9 162.3 — 692.1 Canada, the Caribbean, Bermuda and Latin America 270.6 44.7 118.5 — 433.8 Asia and Other 47.9 0.7 2.1 0.4 51.1 Total written premiums by underwriting location $ 655.0 $ 379.8 $ 292.7 $ 29.6 $ 1,357.1 For the year ended December 31, 2017 Specialty & Runoff & (Millions) Global Property Global A&H Casualty Other Total Net written premiums by client location: United States $ 220.8 $ 284.5 $ 59.0 $ (1.2) $ 563.1 Europe 142.4 28.2 91.7 — 262.3 Canada, the Caribbean, Bermuda and Latin America 93.0 9.5 8.7 0.2 111.4 Asia and Other 100.0 19.3 33.6 0.5 153.4 Total net written premium by client location $ 556.2 $ 341.5 $ 193.0 $ (0.5) $ 1,090.2 Net written premiums by underwriting location: United States $ 54.4 $ 98.2 $ (1.0) $ (1.1) $ 150.5 Europe 239.4 196.4 147.5 — 583.3 Canada, the Caribbean, Bermuda and Latin America 225.2 46.4 43.9 — 315.5 Asia and Other 37.2 0.5 2.6 0.6 40.9 Total written premiums by underwriting location $ 556.2 $ 341.5 $ 193.0 $ (0.5) $ 1,090.2 For the year ended December 31, 2016 Specialty & Runoff & (Millions) Global Property Global A&H Casualty Other Total Net written premiums by client location: United States $ 214.8 $ 211.7 $ 28.4 $ 8.1 $ 463.0 Europe 146.0 34.0 78.9 — 258.9 Canada, the Caribbean, Bermuda and Latin America 67.4 9.4 11.3 0.2 88.3 Asia and Other 86.0 22.5 18.8 0.6 127.9 Total net written premium by client location $ 514.2 $ 277.6 $ 137.4 $ 8.9 $ 938.1 Net written premiums by underwriting location: United States $ 192.9 $ 111.6 $ 6.5 $ 8.3 $ 319.3 Europe 238.3 164.2 128.8 — 531.3 Canada, the Caribbean, Bermuda and Latin America 50.1 1.4 — — 51.5 Asia and Other 32.9 0.4 2.1 0.6 36.0 Total written premiums by underwriting location $ 514.2 $ 277.6 $ 137.4 $ 8.9 $ 938.1

Reserves for unpaid losses and

Reserves for unpaid losses and loss adjustment expenses	12 Months Ended
	Dec. 31, 2018
Reserves for unpaid losses and loss adjustment expenses
Reserves for unpaid losses and loss adjustment expenses	Note 5. Reserves for unpaid losses and loss adjustment expenses Sirius Group establishes loss and LAE reserves that are estimates of future amounts needed to pay claims and related expenses for events that have already occurred. Sirius Group also obtains reinsurance whereby another reinsurer contractually agrees to indemnify Sirius Group for all or a portion of the reinsurance risks underwritten by Sirius Group. Such arrangements, where one reinsurer provides reinsurance to another reinsurer, are usually referred to as “retrocessional reinsurance” arrangements. Sirius Group establishes estimates of amounts recoverable from retrocessional reinsurance in a manner consistent with the loss and LAE liability associated with reinsurance contracts offered to its customers (the “ceding companies”), net of an allowance for uncollectible amounts. Net reinsurance loss reserves represent loss and LAE reserves reduced by retrocessional reinsurance recoverable on unpaid losses. In addition to those factors which give rise to inherent uncertainties in establishing loss and LAE reserves, the inherent uncertainties of estimating such reserves are even greater for the reinsurer, due primarily to: (1) the claim‑tail for reinsurers and insurers working through MGUs being further extended because claims are first reported to either the original primary insurance company or the MGU and then through one or more intermediaries to reinsurers, (2) the diversity of loss development patterns among different types of reinsurance treaties, facultative contracts or direct insurance contracts, (3) the necessary reliance on the ceding companies, intermediaries, and MGUs for information regarding reported claims and (4) the differing reserving practices among ceding companies and MGUs. As with insurance reserves, the process of estimating reinsurance reserves involves a considerable degree of judgment by management and, as of any given date, is inherently uncertain. Based on the above, such uncertainty may be larger relative to the reserves for a company that principally writes reinsurance compared to an insurance company, and certainty may take a longer time to emerge. Upon notification of a loss from an insured (typically a ceding company), Sirius Group establishes case reserves, including LAE reserves, based upon Sirius Group’s share of the amount of reserves reported by the insured and Sirius Group’s independent evaluation of the loss. In cases where available information indicates that reserves reported by a ceding company are inadequate or excessive, Sirius Group establishes case reserves or incurred but not reported (“IBNR”) in excess of or below its share of the reserves reported by the ceding company. Also, in certain instances, Sirius Group may decide not to establish case reserves or IBNR, when the information available indicates that reserves established by ceding companies are not adequately supported. In addition, specific claim information reported by insureds or obtained through claim audits can alert management to emerging trends such as changing legal interpretations of coverage and liability, claims from unexpected sources or classes of business, and significant changes in the frequency or severity of individual claims where customary. Generally, ceding company audits are not customary outside the United States. This information is often used to supplement estimates of IBNR. Generally, initial actuarial estimates of IBNR reserves not related to a specific event are based on the loss ratio method applied to each class of business. Sirius Group regularly reviews the adequacy of its recorded reserves by using a variety of generally accepted actuarial methods, including historical incurred and paid loss development methods. Estimates of the initial expected ultimate losses involve management judgment and are based on historical information for that class of business, which includes loss ratios, market conditions, changes in pricing and conditions, underwriting changes, changes in claims emergence, and other factors that may influence expected ultimate losses. If actual loss activity differs substantially from expectations, an adjustment to recorded reserves may be warranted. As time passes, loss reserve estimates for a given year will rely more on actual loss activity and historical patterns than on initial loss ratio assumptions. The actuarial methods are used to calculate a point estimate of loss and LAE reserves for each company within Sirius Group. These point estimates are then aggregated to produce an actuarial point estimate for Sirius Group. Once a point estimate is established, Sirius Group’s actuaries estimate loss reserve ranges to measure the sensitivity of the actuarial assumptions used to set the point estimates. These ranges are calculated from historical variations in loss ratios, payment, and reporting patterns by class and type of business. Management then establishes an estimate for the carried loss and LAE reserves shown in the financial statement. The management selection is within the range of loss reserve estimates provided by Sirius Group’s actuaries. Loss and Loss Adjustment Expense Reserve Summary The following table summarizes the loss and LAE reserve activities of Sirius Group for the years ended December 31, 2018, 2017, and 2016: (Millions) 2018 2017 2016 Gross beginning balance $ 1,898.5 $ 1,620.1 $ 1,644.4 Less beginning reinsurance recoverable on unpaid losses (319.7) (291.5) (283.1) Net loss and LAE reserve balance 1,578.8 1,328.6 1,361.3 Loss and LAE reserves acquired (1) 0.2 14.3 9.8 Losses and LAE incurred relating to: Current year losses 907.3 811.8 583.0 Prior years losses (7.3) (0.6) (63.7) Total net incurred losses and LAE 900.0 811.2 519.3 Accretion of fair value adjustment to net loss and LAE reserves 0.1 0.1 0.5 Foreign currency translation adjustment to net loss and LAE reserves (20.9) 36.8 (14.0) Loss and LAE paid relating to: Current year losses 251.4 222.8 207.6 Prior years losses 540.3 389.5 340.7 Total loss and LAE payments 791.7 612.3 548.3 Net ending balance 1,666.5 1,578.8 1,328.6 Plus ending reinsurance recoverable on unpaid losses 350.2 319.7 291.5 Gross ending balance $ 2,016.7 $ 1,898.5 $ 1,620.1 (1) Loss and LAE reserves acquired in 2018 relate to Sirius Group’s purchase of WRM America; 2017 relate to Sirius Group's purchase of IMG; 2016 relates to Sirius Group’s purchase of Mount Beacon. Loss and LAE development — 2018 During the year ended December 31, 2018, Sirius Group had net favorable prior year loss reserve development of $7.3 million. During 2018, Sirius Group strengthened its Global Property loss reserves by $43.6 million in Other Property ( $34.9 million) and Property Catastrophe Excess ( $13.2 million), resulting from higher than expected loss reporting from recent accident years, including $21.4 million from Hurricanes Harvey, Irma, and Maria. Specialty & Casualty had net favorable loss reserve development of $18.3 million, primarily driven by Aviation & Space ($7.9 million) and Marine ($6.8 million). The net favorable prior year loss reserve development of $17.6 million for Runoff & Other included reductions in World Trade Center claims in response to revised information received by the Company and runoff Casualty reserves. Global A&H recorded $15.0 million of net favorable loss reserve development due to lower than expected claims activity. Loss and LAE development - 2017 During the year ended December 31, 2017, Sirius Group had net favorable prior year loss reserve development of $0.6 million. During 2017, Sirius Group strengthened its asbestos loss reserves by $59.0 million, which was offset by reductions of other runoff claims reserves of $45.7 million, which is reflected in the Runoff & Other segment. The Specialty & Casualty segment had net favorable prior year loss development of $12.1 million, which is comprised of the Marine ($5.4 million), Trade credit ($4.2 million), Aviation & Space ($1.7 million), and Contingency ($0.8 million) operating segments. Loss and LAE development — 2016 During the year ended December 31, 2016, Sirius Group had net favorable prior year loss reserve development of $63.7 million. The major reductions in loss reserve estimates were recognized in the Global Property ($26.8 million) and Specialty & Casualty ($24.8 million) segments. The decrease in Global Property was driven by Other Property ($23.4 million) due primarily to reductions in the ultimate loss estimates for natural catastrophes that occurred between 2010 and 2015 due to lower than expected claims activity. The decrease in Specialty & Casualty was mainly due to Aviation & Space and Marine with decreases of $11.5 million and $7.2 million, respectively. Asbestos losses of $13.6 million in 2016 were offset by other long tail favorable loss reserve development in Runoff & Other. Fair value adjustment to loss and LAE reserves In connection with purchase accounting for acquisitions, Sirius Group is required to adjust loss and LAE reserves and the related reinsurance recoverables to fair value on their respective acquired balance sheets. The net reduction to loss and LAE reserves is being recognized through an income statement charge ratably with and over the period the claims are settled and is recorded within General and administrative expenses. Sirius Group recognized $0.1 million, $0.1 million, and $0.5 million of such charges during 2018, 2017, and 2016, respectively. As of December 31, 2018, the pre‑tax un‑accreted adjustment was $2.7 million. Asbestos and Environmental Loss and Loss Adjustment Expense Reserve Activity In the Runoff & Other segment, Sirius Group’s reserves include provisions made for claims that assert damages from asbestos and environmental (“A&E”) related exposures primarily at Sirius America. Asbestos claims relate primarily to injuries asserted by those who came in contact with asbestos or products containing asbestos. Environmental claims relate primarily to pollution and related clean‑up cost obligations, particularly as mandated by U.S. federal and state environmental protection agencies. In addition to the factors described above regarding the reserving process, Sirius Group estimates its A&E reserves based upon, among other factors, facts surrounding reported cases and exposures to claims, such as policy limits and deductibles, current law, past and projected claim activity, and past settlement values for similar claims, as well as analysis of industry studies and events, such as recent settlements and asbestos‑related bankruptcies. The cost of administering A&E claims, which is an important factor in estimating loss reserves, tends to be higher than in the case of non‑A&E claims due to the higher legal costs typically associated with A&E claims. Sirius Group’s A&E exposure is primarily from reinsurance contracts written between 1974 through 1985 by acquired companies, mainly MONY Reinsurance Company, which was acquired in 1991, and Christiania General Insurance Company, which was acquired in 1996. The exposures are mostly higher layer excess of loss treaty and facultative coverages with relatively low limits exposed for each claim. The acquisition of companies having modest portfolios of A&E exposure has been typical of several prior Sirius Global Solutions transactions and is likely to be an element of at least some future acquisitions. However, the acquisition of new A&E liabilities is undertaken only after careful due diligence and utilizing conservative reserving assumptions in relation to industry benchmarks. In the case of portfolios acquired previously by Sirius Global Solutions, the exposures arise almost entirely from old assumed reinsurance contracts having small limits of liability. Sirius Group recorded a decrease of $6.9 million, an increase of $59.0 million, and an increase of $13.6 million of asbestos-related incurred losses and LAE on its asbestos reserves in 2018, 2017, and 2016, respectively. The 2018 decrease was driven by favorable loss reserve development primarily due to benign claims activity on the Sirius Global Solutions portfolio. The 2017 increase was primarily a result of an in-depth analysis of Sirius Group’s loss reserves undertaken in the second quarter of 2017. The 2016 increase was primarily the result of management’s monitoring of a variety of metrics including actual paid and reported claims activity. Sirius Group recorded $4.0 million, $6.1 million, and $0.4 million of environmental losses in 2018, 2017, and 2016, respectively, on its already existing reserves. Sirius Group’s net reserves for A&E losses were $200.3 million and $220.6 million as of December 31, 2018 and 2017, respectively. Sirius Group’s asbestos three‑year net paid survival ratio was approximately 10.2 years as of December 31, 2018 and 2017. Sirius Group’s environmental three‑year net paid survival ratio was approximately 4.2 years and 4.3 years as of December 31, 2018 and 2017, respectively. Sirius Group’s reserves for A&E losses as of December 31, 2018 represent management’s best estimate of its ultimate liability based on information currently available. However, as case law expands, medical and clean‑up costs increase, and industry settlement practices change, Sirius Group may be subject to asbestos and environmental losses beyond currently estimated amounts. Sirius Group cannot reasonably estimate at the present time loss reserve additions arising from any such future adverse developments and cannot be sure that allocated loss reserves will be sufficient to cover additional liability arising from any such adverse developments. The following table summarizes reported A&E loss and LAE reserve activities (gross and net of reinsurance) for the years ended December 31, 2018, 2017, and 2016: 2018 2017 2016 (Millions) Gross Net Gross Net Gross Net Asbestos: Beginning balance $ 259.2 $ 204.6 $ 187.0 $ 166.4 $ 193.5 $ 172.9 Incurred losses and LAE (6.9) (6.9) 96.9 59.0 15.3 13.6 Paid losses and LAE (15.5) (13.3) (24.7) (20.8) (21.8) (20.1) Ending balance 236.8 184.4 259.2 204.6 187.0 166.4 Environmental: Beginning balance 16.7 16.0 18.5 13.9 21.5 16.8 Incurred losses and LAE 4.0 4.0 2.9 6.1 0.4 0.4 Paid losses and LAE (4.0) (4.1) (4.7) (4.0) (3.4) (3.3) Ending balance 16.7 15.9 16.7 16.0 18.5 13.9 Total asbestos and environmental: Beginning balance 275.9 220.6 205.5 180.3 215.0 189.7 Incurred losses and LAE (3.0) (2.9) 99.8 65.1 15.7 14.0 Paid losses and LAE (19.5) (17.4) (29.4) (24.8) (25.2) (23.4) Ending balance $ 253.4 $ 200.3 $ 275.9 $ 220.6 $ 205.5 $ 180.3 Net loss reserves by type The following tables present Sirius Group’s loss and LAE reserves, net of reinsurance, by type as of December 31, 2018 and 2017: (Millions) 2018 2017 Case Reserve $ 924.5 $ 833.9 IBNR Reserve 742.0 744.9 Loss and loss adjustment expense reserves, net of reinsurance $ 1,666.5 $ 1,578.8 Reconciliation of liabilities for unpaid loss and LAE The following table summarizes the ending liabilities for unpaid loss and LAE, net of reinsurance for each of Sirius Group’s segments as of December 31, 2018: (Millions) As of Liabilities for unpaid loss and LAE, net of reinsurance December 31, 2018 Unpaid and allocated LAE reserves, net of reinsurance Other Property $ 450.8 Property Catastrophe Excess 245.7 Agriculture 40.9 Global Accident & Health 148.2 Aviation & Space 86.6 Trade credit 42.1 Environmental 0.4 Marine 58.9 Surety 4.5 Contingency 13.7 Casualty 65.4 Runoff & Other 473.7 Total unpaid and allocated LAE reserves, net of reinsurance 1,631.0 Unallocated LAE 35.5 Total unpaid loss and LAE reserves, net of reinsurance 1,666.5 Reinsurance recoverable on unpaid losses Other Property 104.6 Property Catastrophe Excess 53.4 Agriculture 0.5 Global Accident & Health 45.0 Aviation & Space 18.6 Trade credit 10.9 Environmental 0.4 Marine 8.9 Surety 0.5 Contingency 4.9 Casualty — Runoff & Other 102.5 Total reinsurance recoverable on unpaid losses 350.2 Total unpaid loss and LAE reserves $ 2,016.7 The following table groupings, reflecting the Other Property, Property Catastrophe Excess, Agriculture, Accident & Health, Aviation & Space, Trade credit, Environmental, Marine, Surety, Contingency, Casualty, and Runoff & Other lines of business include three sections. The first table (top section of grouping) presents, for each of the previous 10 accident years (1) cumulative total undiscounted incurred loss and allocated LAE, net of reinsurance, as of each of the previous 10 year‑end evaluations, (2) total IBNR plus expected development on reported claims as of December 31, 2018, and (3) the cumulative number of reported claims as of December 31, 2018. The net loss reserves for losses and loss expenses related to the acquisitions described in Note 3 have been incorporated within the ten year short duration tables on a prospective basis. Sirius Group provides treaty reinsurance for a significant portion and across all lines of its business. Sirius Group does not receive, and as such does not maintain claims count information associated with many of its reinsurance contracts, especially proportional covers. As such, Sirius Group has determined that it is impracticable to provide this information. The second table (middle section grouping) presents cumulative paid loss and allocated LAE, net of reinsurance for each of the previous 10 accident years, as of each of the previous 10 year‑end evaluations. Also included in this table is a calculation of the liability for loss and allocated LAE as of December 31, 2018 which is then included in the reconciliation to the consolidated balance sheet presented above. The liability as of December 31, 2018 is calculated as the cumulative incurred loss and allocated LAE from the first table less the cumulative paid loss and allocated from the second table, plus any outstanding liabilities from accident years prior to 2009. The third table (bottom section of grouping) is supplementary information about the average historical claims duration as of December 31, 2018. It shows the weighted average annual percentage payout of incurred loss and allocated LAE by accident year as of each age. For example, the first column is calculated as the incremental paid loss and allocated LAE in the first calendar year for each given accident year (e.g. calendar year 2010 for accident year 2010, calendar year 2011 for accident year 2011) divided by the cumulative incurred loss and allocated LAE as of December 31, 2018 for that accident year. The resulting ratios are weighted together using cumulative incurred loss and allocated LAE as of December 31, 2018. Other Property (Millions) Incurred losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, December 31, 2018 Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Total IBNR liabilities plus Cumulative Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 development on reported claims number of reported claims 2009 118.3 108.7 98.3 94.2 94.1 93.1 95.8 94.6 92.8 93.1 0.2 NA 2010 156.1 153.4 144.7 145.3 140.4 139.5 138.8 137.2 136.9 1.4 NA 2011 163.5 150.9 141.7 133.7 131.8 132.5 132.8 131.6 0.1 NA 2012 163.4 150.0 144.8 140.4 135.7 133.7 133.6 1.6 NA 2013 131.2 127.4 116.6 113.0 112.7 112.2 (0.2) NA 2014 115.0 117.6 115.1 115.3 113.0 1.0 NA 2015 141.2 133.3 135.6 135.5 0.6 NA 2016 196.2 215.2 219.8 0.6 NA 2017 334.2 370.9 46.5 NA 2018 273.1 97.4 NA Total 1,719.7 Other Property (Millions) Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 2009 22.6 59.5 78.7 85.4 89.4 90.5 90.2 90.9 90.9 90.1 2010 31.2 88.7 115.6 123.3 128.2 130.3 130.8 130.9 130.7 2011 26.9 79.5 103.3 116.2 122.3 124.7 127.4 127.1 2012 20.1 85.4 108.2 116.5 119.8 125.1 126.0 2013 27.5 72.0 96.3 102.7 106.0 106.6 2014 19.0 69.4 96.2 104.5 106.7 2015 31.0 93.7 115.2 124.9 2016 31.5 128.9 181.8 2017 58.8 223.5 2018 55.7 Total 1,273.1 All outstanding liabilities before 2009, net of reinsurance 4.2 Liabilities for loss and allocated loss adjustment expenses, net of reinsurance 450.8 Other Property Average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance Years 1 2 3 4 5 6 7 8 9 10 18.9 % 43.7 % 20.3 % 7.0 % 3.3 % 1.9 % 0.7 % 0.1 % (0.1) % (0.9) % Property Catastrophe Excess (Millions) Incurred losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, December 31, 2018 Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Total IBNR liabilities plus Cumulative Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 development on reported claims number of reported claims 2009 48.2 49.0 47.7 46.7 45.9 45.1 44.8 44.9 44.9 44.9 (0.1) NA 2010 136.1 133.6 131.0 130.2 122.8 121.9 121.4 120.7 121.3 (0.2) NA 2011 148.6 153.2 142.7 121.0 117.4 116.6 116.6 116.6 0.1 NA 2012 70.8 59.2 52.6 50.6 51.1 46.3 46.5 0.5 NA 2013 71.6 78.2 75.3 74.7 73.9 73.6 0.0 NA 2014 56.2 57.7 54.9 54.9 54.8 0.3 NA 2015 27.6 29.6 27.2 26.2 0.0 NA 2016 50.6 48.2 42.8 1.8 NA 2017 106.3 124.4 20.3 NA 2018 157.3 60.6 NA Total 808.4 Property Catastrophe Excess (Millions) Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 2009 7.4 31.4 39.8 42.7 43.7 44.0 44.1 44.2 44.2 44.2 2010 49.8 90.0 102.5 107.6 111.1 113.6 117.5 117.5 118.0 2011 15.7 54.1 95.6 114.7 115.0 115.4 116.4 116.5 2012 2.8 26.2 35.8 40.5 41.5 43.3 44.5 2013 11.1 49.4 62.1 67.1 68.4 69.6 2014 9.4 36.1 42.3 47.9 49.5 2015 1.8 9.5 16.9 20.2 2016 10.4 25.7 31.9 2017 13.3 67.9 2018 2.8 Total 565.1 All outstanding liabilities before 2009, net of reinsurance 2.4 Liabilities for loss and allocated loss adjustment expenses, net of reinsurance 245.7 Property Catastrophe Excess Average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance Years 1 2 3 4 5 6 7 8 9 10 15.4 % 41.3 % 19.8 % 9.4 % 1.9 % 1.6 % 1.9 % 0.1 % 0.3 % 0.0 % Agriculture (Millions) Incurred losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, December 31, 2018 Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Total IBNR liabilities plus Cumulative Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 development on reported claims number of reported claims 2009 11.9 10.0 8.7 8.7 8.5 8.6 8.6 8.6 8.6 8.6 — NA 2010 12.8 10.8 10.9 10.7 10.7 10.7 10.7 10.7 10.7 (0.3) NA 2011 21.5 21.6 21.7 21.7 21.7 21.7 21.7 21.7 — NA 2012 41.0 45.8 45.8 45.7 46.9 46.9 46.9 (0.3) NA 2013 9.1 10.8 12.9 13.0 12.8 12.8 (0.1) NA 2014 9.6 8.1 8.4 8.8 8.8 0.2 NA 2015 7.0 9.2 9.5 9.5 — NA 2016 33.5 30.8 29.9 0.2 NA 2017 50.5 47.0 2.5 NA 2018 39.4 33.8 NA Total 235.3 Agriculture (Millions) Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 2009 2.2 9.0 8.6 8.6 8.4 8.4 8.4 8.4 8.4 8.4 2010 0.5 10.7 10.8 10.6 10.6 10.7 10.7 10.7 10.7 2011 1.0 21.3 21.6 21.6 21.6 21.6 21.6 21.6 2012 19.0 45.4 45.7 45.6 46.9 46.9 46.9 2013 7.1 10.6 12.8 13.0 12.8 12.8 2014 6.5 8.1 8.8 8.8 8.9 2015 1.5 7.8 9.0 9.3 2016 10.1 28.1 29.6 2017 9.2 43.7 2018 2.6 Total 194.5 All outstanding liabilities before 2009, net of reinsurance 0.1 Liabilities for loss and allocated loss adjustment expenses, net of reinsurance 40.9 Agriculture Average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance Years 1 2 3 4 5 6 7 8 9 10 25.4 % 65.2 % 3.8 % 0.3 % 0.9 % 0.1 % 0.0 % 0.0 % 0.0 % 0.0 % Global Accident & Health (Millions) Incurred losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, December 31, 2018 Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Total IBNR liabilities plus Cumulative Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 development on reported claims number of reported claims 2009 86.6 84.3 81.3 79.2 78.9 79.0 78.9 79.0 79.0 79.0 — NA 2010 118.4 125.4 122.9 122.1 121.8 121.8 121.8 121.7 121.6 (0.1) NA 2011 161.3 176.7 172.3 171.7 171.7 171.6 171.5 171.4 0.1 NA 2012 163.4 160.1 147.8 147.1 146.8 146.7 146.6 (0.1) NA 2013 125.6 123.2 118.7 118.2 117.6 116.8 — NA 2014 131.1 132.2 130.6 130.6 129.6 0.2 NA 2015 153.5 149.5 146.1 144.8 0.7 NA 2016 176.7 190.9 186.7 5.0 NA 2017 176.4 168.3 13.2 NA 2018 202.8 52.3 NA Total 1,467.6 Global Accident & Health (Millions) Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 2009 27.7 67.7 76.1 77.7 78.5 78.6 78.7 78.8 78.8 78.8 2010 53.1 102.2 119.2 121.4 121.7 121.8 121.9 121.9 121.9 2011 71.2 139.2 166.1 171.1 171.5 171.6 171.6 171.6 2012 72.1 136.0 146.0 146.4 146.6 146.6 146.6 2013 54.4 103.6 114.1 115.5 116.7 116.2 2014 59.3 111.3 124.8 126.6 126.6 2015 75.7 130.3 141.8 143.4 2016 97.7 131.9 143.7 2017 95.7 146.0 2018 128.1 Total 1,322.9 All outstanding liabilities before 2009, net of reinsurance 3.5 Liabilities for loss and allocated loss adjustment expenses, net of reinsurance 148.2 Global Accident & Health Average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance Years 1 2 3 4 5 6 7 8 9 10 50.1 % 36.5 % 10.0 % 1.5 % 0.4 % 0.0 % 0.0 % 0.0 % 0.0 % 0.0 % Aviation & Space (Millions) Incurred losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, December 31, 2018 Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Total IBNR liabilities plus Cumulative Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 development on reported claims number of reported claims 2009 30.9 34.0 35.0 36.9 35.3 35.1 34.2 31.9 31.9 35.8 0.2 NA 2010 42.5 47.5 47.2 44.7 43.2 42.3 42.1 41.6 41.9 (0.5) NA 2011 46.9 42.3 37.9 35.9 34.7 34.5 35.8 35.1 (0.2) NA 2012 35.6 34.3 30.2 28.2 28.4 29.5 29.6 (0.2) NA 2013 40.6 36.4 33.4 32.0 32.9 33.0 (0.1) NA 2014 35.7 38.2 35.0 34.2 34.3 — NA 2015 39.5 35.9 40.0 39.0 0.1 NA 2016 32.1 32.6 33.6 1.3 NA 2017 34.0 43.0 5.9 NA 2018 48.0 19.8 NA Total 373.3 Aviation & Space (Millions) Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 2009 7.9 16.6 21.4 26.4 27.6 28.5 31.7 31.2 32.0 35.9 2010 12.0 22.1 31.5 36.2 37.8 38.8 39.7 39.9 41.0 2011 10.2 22.7 28.6 31.5 32.7 34.1 34.8 34.7 2012 7.6 18.4 22.6 24.6 27.3 28.2 28.7 2013 13.5 19.9 24.0 26.7 28.5 29.2 2014 8.0 17.9 23.6 26.2 28.2 2015 10.5 21.1 27.1 33.5 2016 7.8 19.7 26.9 2017 9.0 23.7 2018 14.3 Total 296.1 All outstanding liabilities before 2009, net of reinsurance 9.4 Liabilities for loss and allocated loss adjustment expenses, net of reinsurance 86.6 Aviation & Space Average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance Years 1 2 3 4 5 6 7 8 9 10 27.0 % 29.4 % 16.8 % 10.5 % 5.0 % 2.8 % 3.7 % (0.4) % 2.4 % 10.9 % Trade credit (Millions) Incurred losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, December 31, 2018 Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Total IBNR liabilities plus Cumulative Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 development on reported claims number of reported claims 2009 9.4 10.0 9.8 9.7 9.4 9.4 9.3 9.3 9.4 10.1 (0.1) NA 2010 14.1 12.3 9.6 9.7 9.8 9.7 9.6 9.8 9.8 (0.3) NA 2011 29.2 29.0 27.4 27.1 27.1 26.5 26.5 26.3 (0.2) NA 2012 34.5 34.3 32.5 32.8 32.4 32.4 32.0 (0.3) NA 2013 29.5 28.4 27.5 27.3 27.9 27.4 0.2 NA 2014 22.8 22.7 23.5 21.4 21.1 0.3 NA 2015 20.2 19.7 19.2 18.4 — NA 2016 15.3 13.2 12.5 0.6 NA 2017 19.2 20.1 6.2 NA 2018 25.0 13.3 NA Total 202.7 Trade credit (Millions) Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 2009 3.4 7.7 8.5 8.8 8.9 9.0 9.1 9.1 9.1 10.0 2010 1.8 5.2 7.7 8.6 9.0 9.1 9.3 9.4 9.5 2011 6.5 17.5 23.5 24.8 25.7 26.0 25.7 25.8 2012 14.7 26.8 31.0 31.8 32.1 31.9 31.9 2013 11.6 19.8 22.8 24.0 24.4 24.5 2014 7.8 13.7 17.7 19.2 19.7 2015 4.5 12.2 15.7 16.6 2016 4.6 8.9 10.6 2017 3.0 8.8 2018 7.7 Total 165.1 All outstanding liabilities before 2009, net of reinsurance 4.5 Liabilities for loss and allocated loss adjustment expenses, net of reinsurance 42.1 Trade credit Average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance Years 1 2 3 4 5 6 7 8 9 10 32.3 % 35.3 % 16.4 % 4.6 % 2.1 % 0.4 % 0.0 % 0.3 % 1.0 % 8.2 % Environmental (Millions) Incurred losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, December 31, 2018 Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Total IBNR liabilities plus expected Cumulative Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 development on reported claims number of reported claims 2009 — — — — — — — — — — — NA 2010 — — — — — — — — — — NA 2011 — — — — — — — — — NA 2012 — — — — — — — — NA 2013 — — — — — — — NA 2014 — — — — — — NA 2015 — — — — — NA 2016 — — — — NA 2017 — — — NA 2018 0.4 0.4 NA Total 0.4 Environmental (Millions) Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 2009 — — — — — — — — — — 2010 — — — — — — — — — 2011 — — — — — — — — 2012 — — — — — — — 2013 — — — — — — 2014 — — — — — 2015 — — — — 2016 — — — 2017 — — 2018 — Total — All outstanding liabilities before 2009, net of reinsurance — Liabilities for loss and allocated loss adjustment expenses, net of reinsurance 0.4 Environmental Average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance Years 1 2 3 4 5 6 7 8 9 10 0.9 % 0.0 % 0.0 % 0.0 % 0.0 % 0.0 % 0.0 % 0.0 % 0.0 % 0.0 % Marine (Millions) Incurred losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, December 31, 2018 Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Total IBNR liabilities plus Cumulative Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 development on reported claims number of reported claims 2009 27.9 25.8 24.8 24.4 24.0 24.1 24.2 23.8 24.1 24.0 (0.1) NA 2010 32.3 35.1 32.7 32.4 33.3 32.9 31.6 31.3 31.1 — NA 2011 36.6 32.8 30.6 31.1 32.1 31.5 31.6 31.5 (0.3) NA 2012 27.3 33.4 36.1 37.5 37.9 36.8 36.3 1.2 NA 2013 23.3 20.5 19.3 18.3 18.1 18.0 — NA 2014 23.3 21.6 19.5 18.2 17.9 — NA 2015 29.5 31.5 29.2 28.8 0.1 NA 2016 28.3 29.2 28.4 1.1 NA 2017 37.5 35.1 6.3 NA 2018 23.3 9.3 NA Total 274.4 Marine (Millions) Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 2009 3.6 12.5 17.5 19.8 21.7 22.6 22.8 23.0 23.1 23.2 2010 5.0 12.2 17.1 19.5 21.3 26.7 27.5 28.5 28.7 2011 4.3 14.3 21.6 25.1 27.9 28.7 29.1 29.6 2012 5.2 14.7 24.2 27.1 29.1 31.0 32.6 2013 2.8 9.3 12.6 14.0 14.4 14.9 2014 4.1 10.3 13.7 15.0 15.8 2015 4.3 11.8 21.8 26.2 2016 6.8 17.5 21.4 2017 7.2 18.2 2018 5.3 Total 215.9 All outstanding liabilities before 2009, net of reinsurance 0.4 Liabilities for loss and allocated loss adjustment expenses, net of reinsurance 58.9 Marine Average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance Years 1 2 3 4 5 6 7 8 9 10 17.8 % 30.7 % 22.0 % 9.7 % 6.1 % 6.7 % 2.4 % 1.9 % 0.6 % 0.4 % Surety (Millions) Incurred losses and allocated loss adjustment expenses, net of reinsurance Year ended Dec

Third party reinsurance

Third party reinsurance	12 Months Ended
	Dec. 31, 2018
Third party reinsurance
Third party reinsurance	Note 6. Third party reinsurance In the normal course of business, Sirius Group seeks to protect its businesses from losses due to concentration of risk and losses arising from catastrophic events by reinsuring with third-party reinsurers. Sirius Group remains liable for risks reinsured in the event that the reinsurer does not honor its obligations under reinsurance contracts. The effects of reinsurance on Sirius Group’s written and earned premiums and on losses and LAE were as follows: (Millions) 2018 2017 2016 Written premiums: Direct $ 454.5 $ 450.2 $ 368.5 Assumed 1,366.5 989.1 900.5 Gross written premiums 1,821.0 1,439.3 1,269.0 Ceded (463.9) (349.1) (330.9) Net written premiums $ 1,357.1 $ 1,090.2 $ 938.1 Earned premiums: Direct $ 432.6 $ 405.7 $ 351.6 Assumed 1,236.2 942.2 877.7 Gross earned premiums 1,668.8 1,347.9 1,229.3 Ceded (406.5) (312.6) (339.2) Net earned premiums $ 1,262.3 $ 1,035.3 $ 890.1 Losses and LAE: Direct $ 260.5 $ 294.9 $ 216.9 Assumed 819.1 701.3 463.8 Gross losses and LAE 1,079.6 996.2 680.7 Ceded (179.6) (185.0) (161.4) Net losses and LAE $ 900.0 $ 811.2 $ 519.3 Sirius Group’s reinsurance protection primarily consists of pro‑rata and excess of loss protections that protect all of its reportable segments. Attachment points and coverage limits vary by region around the world. Sirius Group’s core proportional property reinsurance programs provide protection for parts of the non proportional treaty accounts written in Europe, the Americas, Caribbean, Asia, the Middle East and Australia. These reinsurance protections are designed to increase underwriting capacity where appropriate, and to reduce exposure both to large catastrophe losses and to a frequency of smaller loss events. Sirius Group has in place excess of loss retrocessional coverage for its worldwide earthquake related exposures. This coverage was renewed for one year at May 1, 2018, providing $40.0 million of reinsurance protection in excess of Sirius Group’s retention of $35.0 million and a further $35.0 million of coverage in excess of $75.0 million. Sirius Group periodically purchases industry loss warranties (“ILW”) contracts to augment its overall retrocessional program. The following ILW contracts are currently in force: Scope Limit Trigger Expiration Date United States excluding North East, all natural perils $ 5.0 million $ 40.0 billion July 5, 2019 Europe, wind $ 5.0 million $ 7.5 billion April 30, 2019 Sirius Group purchases excess of loss reinsurance protection for its facultative and primary insurance property books. The protection was renewed at January 1, 2019 for business written in Stockholm, Hamburg and Singapore, providing $32.5 million of protection in excess of $2.5 million. For the business written by Syndicate 1945, an excess of loss reinsurance protection of $10.0 million in excess of retention of $5.0 million on a per risk basis was placed for 12 months at June 30, 2018. Due to reduced exposures, this was cancelled December 31, 2018 and not replaced. For catastrophe losses from business written by Syndicate 1945, Sirius Group has 50% of a $12.0 million protection in excess of retention of $3.0 million placed for 12 months at January 1, 2019. Almost all of Sirius Group’s excess of loss reinsurance protections, excluding ILWs which tend to only cover one loss event, include provisions that reinstate coverage at a cost of 100% or more of the original reinsurance premium. In connection with the CMIG International acquisition, White Mountains required Sirius Group to purchase ILWs, referred to as the WTM Covers, to mitigate the potential impact of major natural catastrophe events on Sirius Group’s balance sheet pending the close of the sale to CMIG International. The cost and potential economic benefit provided by the WTM Covers inure to White Mountains. All but one of these contracts expired in May or June 2016; the other was a United States second event cover for an industry loss at $15 billion with a limit of $5 million that expired on July 15, 2016. Under the Stock Purchase Agreement (“SPA”) between CMIG International and White Mountains, shortly after the sale of the Company, White Mountains paid the Company $16.5 million on an after-tax basis, which the Company recorded as paid-in surplus. The costs of these programs are part of the Runoff & Other reportable segment. The following table summarizes the WTM Covers purchased in connection with the CMIG International acquisition that expired in 2016: Scope Limit Industry Loss Trigger United States first event $ 75.0 million $ 40.0 billion United States first event $ 22.5 million $ 50.0 billion United States second event $ 45.0 million $ 15.0 billion Japan first event $ 25.0 million $ 12.5 billion At December 31, 2018, Sirius Group had reinsurance recoverables on paid losses of $55.0 million and reinsurance recoverables of $350.2 million on unpaid losses. At December 31, 2017, Sirius Group had reinsurance recoverables on paid losses of $17.5 million and reinsurance recoverables of $319.7 million on paid unpaid losses. Because retrocessional reinsurance contracts do not relieve Sirius Group of its obligation to its insureds, the collectability of balances due from Sirius Group’s reinsurers is important to its financial strength. Sirius Group monitors the financial strength and ratings of retrocessionaires on an ongoing basis. Uncollectible amounts historically have not been significant. The following tables provide a listing of Sirius Group’s gross and net recoverable amounts by the reinsurer’s Standard & Poor’s Financial Services LLC (“Standard & Poor’s”) rating and the percentage of total recoverables as of December 31, 2018 and 2017. With certain reinsurers if Standard & Poor’s rating was not available, an A.M. Best rating was used. December 31, 2018 Rating(1) Gross Collateral Net % of Net Total AA $ 115.1 $ 1.5 $ 113.6 35 % A 212.9 45.4 167.5 52 % BBB+ — — — 0 % BBB or lower 19.5 13.3 6.2 2 % Not rated 57.7 23.2 34.5 11 % Total $ 405.2 $ 83.4 $ 321.8 100 % (1) Standard & Poor’s ratings as detailed above are: “AA” (Very strong), “A” (Strong), and “BBB+” and “BBB” (Adequate). December 31, 2017 Rating(1) Gross Collateral Net % of Net Total AA $ 116.9 $ 1.0 $ 115.9 43 % A 153.9 27.9 126.0 46 % BBB+ — — — 0 % BBB or lower 13.4 12.5 0.9 1 % Not rated 53.0 23.9 29.1 10 % Total $ 337.2 $ 65.3 $ 271.9 100 % (1) Standard & Poor’s ratings as detailed above are: “AA” (Very strong), “A” (Strong), and “BBB+” and “BBB” (Adequate). The following tables provide a listing of the five highest gross recoverable amounts by reinsurer, along with percentage of total recoverable amount, the reinsurer’s Standard & Poor’s reinsurer rating, and the percentage that the recoverable is collateralized as of December 31, 2018 and 2017: December 31, 2018 (Millions) Balance % of Total S&P rating % Collateralized Reinsurer: General Insurance Corporation of India (1) $ 82.7 20 % A− 97 % Swiss Reinsurance Company Ltd. 44.1 11 % AA− 0 % Berkshire Hathaway, Inc. 39.3 10 % AA+ 1 % Argo Capital Group Ltd. 16.7 4 % A− 87 % Lloyd's of London 13.4 3 % A+ 5 % (1) Reflects an A.M. Best rating of “A-” (Excellent). December 31, 2017 (Millions) Balance % of Total S&P rating % Collateralized Reinsurer: Swiss Reinsurance Company Ltd. $ 45.5 13 % AA− 0 % Berkshire Hathaway, Inc. 41.1 12 % AA+ 0 % Lloyd's of London 19.4 6 % A+ 16 % Argo Capital Group Ltd. 18.2 5 % A− 78 % General Insurance Corporation of India (1) 17.3 5 % A− 11 % (1) Reflects an A.M. Best rating of “A-” (Excellent) .

Deferred acquisition costs

Deferred acquisition costs	12 Months Ended
	Dec. 31, 2018
Deferred acquisition costs
Deferred acquisition costs	Note 7. Deferred acquisition costs The following table presents a rollforward of Deferred acquisition costs for the years ended December 31, 2018, 2017, and 2016: (Millions) 2018 2017 2016 Deferred acquisition costs - balance, beginning of the year $ 120.9 $ 84.7 $ 74.6 Acquisition costs deferred(1) 202.6 220.7 137.7 Amortization expense (180.4) (186.7) (126.7) Other, including foreign exchange (1.5) 2.2 (0.9) Deferred acquisition costs - balance, end of the year $ 141.6 $ 120.9 $ 84.7 (1) 2017 amount includes $2.9 from Acquisition of IMG. (See Note 3.)

Investment securities

Investment securities	12 Months Ended
	Dec. 31, 2018
Investment securities
Investment securities	Note 8. Investment securities Net Investment Income Sirius Group’s net investment income is comprised primarily of interest income along with associated amortization of premium and accretion of discount on Sirius Group’s fixed maturity investments, dividend income from its equity investments, and interest income from its short-term investments. Net investment income for the years ended December 31, 2018, 2017, and 2016 consisted of the following: (Millions) 2018 2017 2016 Fixed maturity investments $ 53.2 $ 51.5 $ 58.0 Short-term investments 5.1 1.5 0.9 Equity securities 16.5 5.1 4.1 Other long-term investments 8.4 8.5 4.9 Interest on funds held under reinsurance treaties (0.5) — (0.5) Total investment income 82.7 66.6 67.4 Investment expenses (11.3) (9.8) (11.2) Net investment income $ 71.4 $ 56.8 $ 56.2 Net Realized and Unrealized Investment (Losses) Gains Net realized and unrealized investment gains (losses) for the years ended December 31, 2018, 2017, and 2016 consisted of the following: (Millions) 2018 2017 2016 Gross realized gains $ 42.3 $ 24.4 $ 310.8 Gross realized (losses) (40.0) (51.6) (22.5) Net realized gains (losses) on investments (1)(2) 2.3 (27.2) 288.3 Net unrealized (losses) on investments (3) (23.2) (10.5) (238.2) Net realized and unrealized investment (losses) gains on investments $ (20.9) $ (37.7) $ 50.1 (1) Includes 17.3, $(19.1), and $50.0 of realized gains (losses) due to foreign currency during 2018, 2017, and 2016, respectively. (2) Includes net realized gains of $222.5 related to Symetra in 2016. (See Note 3 .) (3) Includes $35.7, $(51.7), and $(7.7) of unrealized gains (losses) due to foreign currency during 2018, 2017, and 2016, respectively. Net realized investment gains (losses) Net realized investment gains (losses) for the years ended December 31, 2018, 2017, and 2016 consisted of the following: (Millions) 2018 2017 2016 Fixed maturity investments $ 3.6 $ (19.1) $ 57.4 Equity securities (6.4) 0.1 231.9 Other long-term investments 5.1 (8.2) (1.0) Net realized investment gains (losses) $ 2.3 $ (27.2) $ 288.3 Net unrealized investment (losses) The following table summarizes the net unrealized investment (losses) and changes in fair value for the years ended December 31, 2018, 2017, and 2016: (Millions) 2018 2017 2016 Fixed maturity investments $ 14.1 $ (41.3) $ (25.0) Equity securities (51.1) 25.2 (214.5) Other long-term investments 13.8 5.6 1.3 Net unrealized investment (losses) $ (23.2) $ (10.5) $ (238.2) The following table summarizes the amount of total gains (losses) included in earnings attributable to unrealized investment gains (losses) for Level 3 investments for the years ended December 31, 2018, 2017, and 2016: (Millions) 2018 2017 2016 Fixed maturity investments $ (6.1) $ (0.2) $ (0.1) Equity securities — 0.1 — Other long-term investments 4.0 (0.6) 1.2 Total unrealized investment (losses) gains - Level 3 investments $ (2.1) $ (0.7) $ 1.1 Investment Holdings Fixed maturity investments The cost or amortized cost, gross unrealized investment gains (losses), net foreign currency gains (losses), and fair value of Sirius Group’s fixed maturity investments as of December 31, 2018 and 2017, were as follows: 2018 Cost or Gross Net foreign amortized unrealized Gross currency gains (Millions) cost gains unrealized losses (losses) Fair value Corporate debt securities $ 694.1 $ 1.4 $ (7.3) $ 7.6 $ 695.8 Asset-backed securities 496.3 0.1 (3.8) 1.9 494.5 Residential mortgage-backed securities 413.0 1.7 (7.1) 5.9 413.5 U.S. government and government agency 163.9 0.3 (0.5) 4.2 167.9 Commercial mortgage-backed securities 117.7 0.2 (2.7) 0.7 115.9 Non-U.S. government and government agency 50.6 — (0.2) (0.1) 50.3 Preferred stocks 14.5 0.6 (6.8) 0.2 8.5 U.S. States, municipalities and political subdivision 2.8 — — — 2.8 Total fixed maturity investments $ 1,952.9 $ 4.3 $ (28.4) $ 20.4 $ 1,949.2 2017 Cost or Gross Gross Net foreign amortized unrealized unrealized currency gains (Millions) cost gains losses (losses) Fair value Corporate debt securities $ 1,017.0 $ 3.1 $ (4.8) $ (0.8) $ 1,014.5 Asset-backed securities 478.1 0.4 (0.6) (2.5) 475.4 Residential mortgage-backed securities (1) 300.7 0.1 (5.6) (1.7) 293.5 U.S. government and government agency 85.8 — (0.8) (0.2) 84.8 Commercial mortgage-backed securities (1) 193.8 0.8 (3.6) — 191.0 Non-U.S. government and government agency 106.8 0.1 (0.9) 1.2 107.2 Preferred stocks 9.3 0.3 — 0.2 9.8 U.S. States, municipalities and political subdivision 3.8 — — — 3.8 Total fixed maturity investments $ 2,195.3 $ 4.8 $ (16.3) $ (3.8) $ 2,180.0 (1) 2017 figures have been revised to correct for a misclassification in prior disclosure of subcategories within residential mortgage-backed securities. Cost or amortized cost and fair value balances increased by $41.4 for residential mortgage-backed securities and decreased by the same amounts for commercial mortgage-backed securities. Gross unrealized losses and net foreign currency gains (losses) increased by $0.3 for residential mortgage-backed securities and decreased by the same amounts for commercial mortgage-backed securities. The weighted average duration of Sirius Group’s fixed income portfolio as of December 31, 2018 was approximately 1.7 years, including short-term investments, and approximately 2.2 years excluding short-term investments. The cost or amortized cost and fair value of Sirius Group’s fixed maturity investments as of December 31, 2018 and 2017 are presented below by contractual maturity. Actual maturities could differ from contractual maturities because borrowers may have the right to call or prepay certain obligations with or without call or prepayment penalties. 2018 2017 Cost or amortized Cost or amortized (Millions) cost Fair value cost Fair value Due in one year or less $ 249.6 $ 254.6 $ 106.3 $ 106.5 Due after one year through five years 635.6 636.4 1,009.0 1,006.4 Due after five years through ten years 26.2 25.7 71.2 70.8 Due after ten years 0.1 0.1 26.9 26.6 Mortgage-backed and asset-backed securities 1,026.9 1,023.9 972.6 959.9 Preferred stocks 14.5 8.5 9.3 9.8 Total $ 1,952.9 $ 1,949.2 $ 2,195.3 $ 2,180.0 The following table summarizes the ratings and fair value of fixed maturity investments held in Sirius Group’s investment portfolio as of December 31, 2018 and 2017: (Millions) 2018 2017 AAA $ 602.0 $ 689.4 AA 818.0 635.2 A 290.5 416.4 BBB 167.4 333.8 Other 71.3 105.2 Total fixed maturity investments (1) $ 1,949.2 $ 2,180.0 (1) Credit ratings are assigned based on the following hierarchy: 1) Standard & Poor’s and 2) Moody’s Investor Service. At December 31, 2018, the above totals included $42.6 million of sub-prime securities. Of this total, $17.1 million was rated AAA, $9.8 million rated AA, $6.0 million rated A, $4.7 million rated BBB and $5.0 million classified as other. At December 31, 2017, the above included $93.0 million of sub-prime securities. Of this total, $53.0 million was rated AAA, $25.7 million rated AA, $1.3 million rated A, $8.4 million rated BBB and $4.6 million classified as other. Mortgage-backed, Asset-backed Securities Sirius Group purchases commercial mortgage-backed securities (“CMBS”) and residential mortgage-backed securities (“RMBS”) and asset-backed securities with the goal of maximizing risk adjusted returns in the context of a diversified portfolio. Sirius Group considers sub-prime securities as those that have underlying loan pools that exhibit weak credit characteristics, or those that are issued from dedicated sub-prime shelves or dedicated second-lien shelf registrations (i.e., Sirius Group considers investments backed primarily by second-liens to be sub-prime risks). Given the tranched nature of mortgage-backed and asset-backed securities, Sirius Group relies primarily on rating agency credit ratings (i.e., S&P and Moody’s) to evaluate credit worthiness of these securities and to a lesser extent on credit scores such as FICO. The following table summarizes the total mortgage and asset-backed securities held at fair value in Sirius Group’s investment portfolio as of December 31, 2018 and 2017: (Millions) 2018 2017 (1) Mortgage-backed securities: Agency: Federal national mortgage association $ 185.0 $ 159.8 Federal home loan mortgage corporation 166.9 62.0 Government national mortgage association 59.4 57.2 Total agency (2) 411.3 279.0 Non-agency: Commercial 85.5 148.3 Residential 32.6 57.2 Total non-agency 118.1 205.5 Total mortgage-backed securities 529.4 484.5 Asset-backed securities: Collateralized loan obligations 373.0 — Vehicle receivables 63.8 314.6 Credit card receivables 10.7 53.0 Other 47.0 107.8 Total asset-backed securities 494.5 475.4 Total mortgage and asset-backed securities (3) $ 1,023.9 $ 959.9 (1) 2017 figures have been revised to correct for a misclassification in prior disclosure of subcategories within agency and non-agency mortgage-backed securities: total agency balances increased by $39.7 and total non-agency balances decreased by the same amount. (2) Represents publicly traded mortgage-backed securities which carry the full faith and credit guaranty of the U.S. government (i.e., GNMA) or are guaranteed by a government-sponsored entity (i.e., FNMA, FHLMC). (3) At December 31, 2018 and 2017, all mortgage- and asset-backed securities held by Sirius Group were classified as Level 2 investments. Equity securities and Other long-term investments The cost or amortized cost, gross unrealized investment gains and losses, net foreign currency gains and losses, and fair values of Sirius Group’s equity securities and other long-term investments as of December 31, 2018 and 2017, were as follows: (Millions) 2018 Cost or amortized Gross unrealized Gross unrealized Net foreign currency cost gains losses gains (losses) Fair value Equity securities $ 409.4 $ 17.8 $ (50.8) $ 3.6 $ 380.0 Other long-term investments $ 337.6 $ 32.6 $ (13.5) $ 8.3 $ 365.0 (Millions) 2017 Cost or amortized Gross unrealized Gross unrealized Net foreign currency cost gains losses gains (losses) Fair value Equity securities $ 275.1 $ 29.3 $ (5.1) $ (0.1) $ 299.2 Other long-term investments $ 255.5 $ 14.2 $ (4.1) $ 3.9 $ 269.5 Other long-term investments at fair value consist of the following as of December 31, 2018 and 2017: (Millions) 2018 2017 Hedge funds and private equity funds $ 301.4 $ 205.3 Limited liability companies and private equity securities 63.6 64.2 Total other long-term investments $ 365.0 $ 269.5 Hedge Funds and Private Equity Funds Sirius Group holds investments in hedge funds and private equity funds, which are included in other long-term investments. The fair value of these investments has been estimated using the net asset value of the funds. As of December 31, 2018, Sirius Group held investments in 9 hedge funds and 27 private equity funds. The largest investment in a single fund was $54.8 million as of December 31, 2018 and $31.4 million as of December 31, 2017. The following table summarizes investments in hedge funds and private equity interests by investment objective and sector as of December 31, 2018 and 2017: (Millions) 2018 2017 Unfunded Unfunded Fair Value Commitments Fair Value Commitments Hedge funds: Long/short multi-sector $ 41.0 $ — $ 31.5 $ — Distressed mortgage credit 54.8 — 25.5 — Private credit 20.0 — — — Other 2.5 — 3.2 — Total hedge funds 118.3 — 60.2 — Private equity funds: Energy infrastructure & services 93.7 54.2 73.5 56.4 Multi-sector 9.0 0.7 9.5 1.0 Healthcare 31.7 15.6 23.4 28.6 Life settlement 23.7 — 21.5 — Manufacturing/Industrial 23.6 10.4 15.9 5.1 Private equity secondaries 1.1 1.1 1.1 1.0 Real estate 0.3 — 0.2 — Total private equity funds 183.1 82.0 145.1 92.1 Total hedge and private equity funds included in other long-term investments $ 301.4 $ 82.0 $ 205.3 $ 92.1 Redemption of investments in certain hedge funds is subject to restrictions including lock-up periods where no redemptions or withdrawals are allowed, restrictions on redemption frequency, and advance notice periods for redemptions. Amounts requested for redemptions remain subject to market fluctuations until the redemption effective date, which generally falls at the end of the defined redemption period. The following summarizes the December 31, 2018 fair value of hedge funds subject to restrictions on redemption frequency and advance notice period requirements for investments in active hedge funds: Notice Period Redemption Frequency 30-59 days 60-89 days 90-119 days 120+ days (Millions) notice notice notice notice Total Monthly $ — $ 25.4 $ — $ — $ 25.4 Quarterly 0.8 — — — 0.8 Semi-annual — 0.8 — — 0.8 Annual — 15.6 55.7 20.0 91.3 Total $ 0.8 $ 41.8 $ 55.7 $ 20.0 $ 118.3 Certain of the hedge fund and private equity fund investments in which Sirius Group is invested are no longer active and are in the process of disposing of their underlying investments. Distributions from such funds are remitted to investors as the fund’s underlying investments are liquidated. As of December 31, 2018, no distributions were outstanding from these investments. Investments in private equity funds are generally subject to a “lock-up” period during which investors may not request a redemption. Distributions prior to the expected termination date of the fund may be limited to dividends or proceeds arising from the liquidation of the fund’s underlying investments. In addition, certain private equity funds provide an option to extend the lock-up period at either the sole discretion of the fund manager or upon agreement between the fund and the investors. As of December 31, 2018, investments in private equity funds were subject to lock-up periods as follows: (Millions) 1 - 3 years 3 – 5 years 5 – 10 years Total Private Equity Funds -- expected lock up period remaining $ 17.2 $ 4.6 $ 161.3 $ 183.1 Investments Held on Deposit or as Collateral As of December 31, 2018 and 2017, investments of $792.4 million and $548.2 million, respectively, were held in trusts required to be maintained in relation to various reinsurance agreements. Sirius Group’s consolidated reinsurance operations are required to maintain deposits with certain insurance regulatory agencies in order to maintain their insurance licenses. The fair value of such deposits which are included within total investments totaled $801.2 million and $548.4 million as of December 31, 2018 and 2017, respectively. As of December 31, 2018, Sirius Group held $0.3 million of collateral in the form short-term investments associated with Interest Rate Cap agreements. (See Note 13 .) Unsettled investment purchases and sales As of December 31, 2018 and 2017, Sirius Group reported $3.2 million and $0.3 million, respectively, in Accounts payable on unsettled investment purchases. As of December 31, 2018 and 2017, Sirius Group reported $5.0 million and $0.3 million, respectively, in Accounts receivable on unsettled investment sales.

Fair value measurements

Fair value measurements	12 Months Ended
	Dec. 31, 2018
Fair value measurements
Fair value measurements	Note 9. Fair value measurements Fair value measurements Fair value measurements are categorized into a hierarchy that distinguishes between inputs based on market data from independent sources (“observable inputs”) and a reporting entity’s internal assumptions based upon the best information available when external market data is limited or unavailable (“unobservable inputs”). Quoted prices in active markets for identical assets or liabilities have the highest priority (“Level 1”), followed by observable inputs other than quoted prices, including prices for similar but not identical assets or liabilities (“Level 2”), and unobservable inputs, including the reporting entity’s estimates of the assumptions that market participants would use, having the lowest priority (“Level 3”). The availability of observable inputs can vary from financial instrument to financial instrument and is affected by a wide variety factors including, for example, the type of financial instrument, whether the financial instrument is new and not yet established in the marketplace, and other characteristics particular to the instrument. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires significantly more judgment. Accordingly, the degree of judgment exercised by management in determining fair value is greatest for instruments categorized in Level 3. In periods of market dislocation, the observability of prices and inputs may be reduced for many instruments. This may lead the Company to change the selection of the valuation technique (for example, from market to cash flow approach) or to use multiple valuation techniques to estimate the fair value of a financial instrument. These circumstances could cause an instrument to be reclassified between levels within fair value hierarchy. Investments valued using Level 1 inputs include fixed maturity investments, primarily investments in U.S. Treasuries Bills and Notes, equity securities, and short‑term investments. Investments valued using Level 2 inputs are primarily comprised of fixed maturity investments, which have been disaggregated into classes, including U.S. government and government agency, corporate debt securities, mortgage‑backed and asset‑backed securities, non‑U.S. government and government agency, U.S. state and municipalities and political sub division and preferred stocks. Investments valued using Level 2 inputs also include certain ETFs that track U.S. stock indices such as the S&P 500 but are traded on foreign exchanges. Fair value estimates for investments that trade infrequently and have few or no observable market prices are classified as Level 3 measurements. Sirius Group determines when transfers between levels have occurred as of the beginning of the period. Valuation techniques Sirius Group uses outside pricing services to assist in determining fair values for its investments. For investments in active markets, Sirius Group uses the quoted market prices provided by outside pricing services to determine fair value. The outside pricing services Sirius Group uses have indicated that they will only provide prices where observable inputs are available. In circumstances where quoted market prices are unavailable or are not considered reasonable, Sirius Group estimates the fair value using industry standard pricing models and observable inputs such as benchmark yields, reported trades, broker-dealer quotes, issuer spreads, benchmark securities, bids, offers, prepayment speeds, reference data including research publications, and other relevant inputs. Given that many fixed maturity investments do not trade on a daily basis, the outside pricing services evaluate a wide range of fixed maturity investments by regularly drawing parallels from recent trades and quotes of comparable securities with similar features. The characteristics used to identify comparable fixed maturity investments vary by asset type and take into account market convention. The valuation process above is generally applicable to all of Sirius Group’s fixed maturity investments. The techniques and inputs specific to asset classes within Sirius Group’s fixed maturity investments for Level 2 securities that use observable inputs are as follows: U.S. government and government agency U.S. government and government agency securities consist primarily of debt securities issued by the U.S. Treasury and mortgage pass-through agencies such as the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation and the Government National Mortgage Association. Fixed maturity investments included in U.S. government and government agency securities are primarily priced by pricing services. When evaluating these securities, the pricing services gather information from market sources and integrate other observations from markets and sector news. Evaluations are updated by obtaining broker dealer quotes and other market information including actual trade volumes, when available. The fair value of each security is individually computed using analytical models which incorporate option adjusted spreads and other daily interest rate data. Non-U.S. government and government agency Non-U.S. government and government agency securities consist of debt securities issued by non-U.S. governments and their agencies along with supranational organizations (also known as sovereign debt securities). Securities held in these sectors are primarily priced by pricing services who employ proprietary discounted cash flow models to value the securities. Key quantitative inputs for these models are daily observed benchmark curves for treasury, swap, and high issuance credits. The pricing services then apply a credit spread for each security which is developed by in-depth and real time market analysis. For securities in which trade volume is low, the pricing services utilize data from more frequently traded securities with similar attributes. These models may also be supplemented by daily market and credit research for international markets. Corporate debt securities Corporate debt securities consist primarily of investment-grade debt of a wide variety of U.S. and non-U.S. corporate issuers and industries. The corporate fixed maturity investments are primarily priced by pricing services. When evaluating these securities, the pricing services gather information from market sources regarding the issuer of the security and obtain credit data, as well as other observations, from markets and sector news. Evaluations are updated by obtaining broker dealer quotes and other market information including actual trade volumes, when available. The pricing services also consider the specific terms and conditions of the securities, including any specific features which may influence risk. Mortgage-backed and asset-backed securities The fair value of mortgage and asset-backed securities is primarily priced by pricing services using a pricing model that uses information from market sources and leveraging similar securities. Key inputs include benchmark yields, reported trades, underlying tranche cash flow data, collateral performance, plus new issue data, as well as broker-dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data including issuer, vintage, loan type, collateral attributes, prepayment speeds, default rates, recovery rates, cash flow stress testing, credit quality ratings, and market research publications. U.S. states, municipalities, and political subdivisions The U.S. states, municipalities, and political subdivisions portfolio contains debt securities issued by U.S. domiciled state and municipal entities. These securities are generally priced by independent pricing services using the techniques for U.S. government and government agency securities. Preferred stocks The fair value of preferred stocks is generally priced by independent pricing services using an evaluated pricing model that calculates the appropriate spread over a comparable security for each issue. Key inputs include exchange prices (underlying and common stock of same issuer), benchmark yields, reported trades, broker-dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, and reference data including sector, coupon, credit quality ratings, duration, credit enhancements, early redemption features, and market research publications. Level 3 Investments Level 3 valuations are generated from techniques that use assumptions not observable in the market. These unobservable assumptions reflect Sirius Group’s assumptions, that market participants would use in valuing the investment. Generally, certain securities may start out as Level 3 when they are originally issued but as observable inputs become available in the market, they may be reclassified to Level 2. Sirius Group employs a number of procedures to assess the reasonableness of the fair value measurements for its other long-term investments, including obtaining and reviewing the audited annual financial statements of hedge funds and private equity funds and periodically discussing each fund’s pricing with the fund manager. However, since the fund managers do not provide sufficient information to evaluate the pricing inputs and methods for each underlying investment, the inputs are considered to be unobservable. The fair values of Sirius Group’s investments in private equity securities and private debt instruments have been classified as Level 3 measurements. They are carried at fair value and are initially valued based on transaction price and their valuation is subsequently estimated based on available evidence such as a market transaction in similar instruments and other financial information for the issuer. Investments measured using Net Asset Value The fair value of Sirius Group’s investments in hedge funds and private equity funds has been determined using net asset value. The hedge fund’s administrator provides quarterly updates of fair value in the form of Sirius Group’s proportional interest in the underlying fund’s net asset value (collectively “NAV”), which is deemed to approximate fair value, generally with a three month delay in valuation. The fair value of investment in hedge funds is measured using the NAV practical expedient and therefore has been not categorized within the fair value hierarchy. The private equity funds provide quarterly or semi-annual partnership capital statements with a three or six month delay which are used as a basis for valuation. These private equity investments vary in investment strategies and are not actively traded in any open markets. The fair value of these investments are measured using NAV practical expedient and therefore have not been categorized with the fair value hierarchy. Due to a lag in reporting, some of the fund managers, fund administrators, or both, are unable to provide final fund valuations as of the Company’s reporting date. In these circumstances, Sirius Group estimates the return of the current period and uses all credible information available. This includes utilizing preliminary estimates reported by its fund managers and using other information that is available to Sirius Group with respect to the underlying investments, as necessary. Fair Value Measurements by Level The following tables summarize Sirius Group’s financial assets and liabilities measured at fair value as of December 31, 2018 and 2017 by level: 2018 Fair Level 1 Level 2 Level 3 (Millions) value inputs inputs inputs Assets measured at fair value Fixed maturity investments: U.S. Government and government agency $ 167.9 $ 164.7 $ 3.2 $ — Corporate debt securities 695.8 — 695.8 — Asset-backed securities 494.5 — 494.5 — Residential mortgage-backed securities 413.5 — 413.5 — Commercial mortgage-backed securities 115.9 — 115.9 — Non-U.S. government and government agency 50.3 42.9 7.4 — Preferred stocks 8.5 — 3.1 5.4 U.S. States, municipalities, and political subdivision 2.8 — 2.8 — Total fixed maturity investments 1,949.2 207.6 1,736.2 5.4 Short-term investments 715.5 679.3 36.2 — Equity securities 380.0 380.0 — — Other long-term investments (1) 63.6 — — 63.6 Total investments $ 3,108.3 $ 1,266.9 $ 1,772.4 $ 69.0 Derivative instruments 4.1 — — 4.1 Total assets measured at fair value $ 3,112.4 $ 1,266.9 $ 1,772.4 $ 73.1 Liabilities measured at fair value Contingent consideration liabilities $ 28.8 $ — $ — $ 28.8 Derivative instruments 5.1 0.5 — 4.6 Total liabilities measured at fair value $ 33.9 $ 0.5 $ — $ 33.4 (1) Excludes fair value of $301.4 associated with hedge funds and private equity funds which fair value is measured at net asset value using the practical expedient. 2017 Fair Level 1 Level 2 Level 3 (Millions) value inputs inputs inputs Assets measured at fair value Fixed maturity investments: U.S. Government and government agency $ 84.8 $ 83.2 $ 1.6 $ — Corporate debt securities 1,014.5 — 1,014.5 — Asset-backed securities 475.4 — 475.4 — Residential mortgage-backed securities (1) 293.5 — 293.5 — Commercial mortgage-backed securities (1) 191.0 — 191.0 — Non-U.S. government and government agency 107.2 94.8 12.4 — Preferred stocks 9.8 — 1.8 8.0 U.S. States, municipalities, and political subdivision 3.8 — 3.8 — Total fixed maturity investments 2,180.0 178.0 1,994.0 8.0 Short-term investments 625.0 566.2 58.8 — Equity securities 299.2 298.6 0.6 — Other long-term investments (2) 64.2 — — 64.2 Total investments $ 3,168.4 $ 1,042.8 $ 2,053.4 $ 72.2 Derivative instruments 4.5 — — 4.5 Total assets measured at fair value $ 3,172.9 $ 1,042.8 $ 2,053.4 $ 76.7 Liabilities measured at fair value Contingent consideration liabilities $ 42.8 $ — $ — $ 42.8 Derivative instruments 10.6 — — 10.6 Total liabilities measured at fair value $ 53.4 $ — $ — $ 53.4 (1) 2017 figures have been revised to correct for a misclassification in prior disclosure of subcategories within residential mortgage-backed securities and commercial mortgage-backed securities. Fair value and Level 2 input balances increased by $41.4 for residential mortgage-backed securities and decreased by the same amount for commercial mortgage-backed securities. (2) Excludes fair value of $205.3 associated with hedge funds and private equity funds which fair value is measured at net asset value using the practical expedient. Rollforward of Level 3 Fair Value Measurements The following tables present changes in Level 3 for financial instruments measured at fair value for the years ended December 31, 2018 and 2017: 2018 Derivative Other instruments Contingent Fixed long-term assets & consideration (Millions) maturities investments (1) (liabilities) (liabilities) Balance at January 1, 2018 $ 8.0 $ 64.2 $ (6.1) $ (42.8) Fair value of contingent consideration liabilities at date of purchase (See Note 3 ) — — — — Total realized and unrealized gains (6.1) 6.8 12.0 9.6 Foreign currency losses through Other Comprehensive Income — (4.4) — — Purchases 4.0 1.2 — — Sales/settlements (0.5) (4.2) (6.4) 4.4 Transfers out — — — — Balance at December 31, 2018 $ 5.4 $ 63.6 $ (0.5) $ (28.8) (1) Excludes fair value of $301.5 associated with hedge funds and private equity funds which fair value is measured at net asset value using the practical expedient. 2017 Derivative Other instruments Contingent Fixed long-term assets & consideration (Millions) maturities investments (1) (liabilities) (liabilities) Balance at January 1, 2017 $ 27.7 $ 29.1 $ 12.7 $ — Fair value of contingent consideration liabilities at date of purchase (See Note 3 ) — — — (122.2) Total realized and unrealized gains (4.9) (0.5) (14.6) 48.8 Foreign currency losses through Other Comprehensive Income (0.1) 1.0 — — Purchases 4.7 36.0 — — Sales/settlements (1.0) (1.4) (4.2) 30.6 Transfers out (2) (18.4) — — — Balance at December 31, 2017 $ 8.0 $ 64.2 $ (6.1) $ (42.8) (1) Excludes fair value of $205.3 associated with hedge funds and private equity funds which fair value is measured at net asset value using the practical expedient. (2) Transfer from Level 3 to Level 2. Fair Value Measurements—transfers between levels There were no transfers between Level 3 and Level 2 measurements for the year ended December 31, 2018. During 2017, two fixed maturity securities classified as Level 3 measurements in the prior period were recategorized as a Level 2 measurement because quoted market prices for similar securities that were considered reliable and could be validated against an alternative source were available as of December 31, 2017. These measurements comprise “Transfers out” of Level 3 and “Transfers in” to Level 2 of $18.4 million for the period ended December 31, 2017. Significant Unobservable Inputs The table below presents information about the significant unobservable inputs used for recurring fair value measurements for certain Level 3 instruments as of December 31, 2018 and 2017, and includes only those instruments for which information about the inputs is reasonably available to Sirius Group, such as data from independent third-party valuation service providers and from internal valuation models. (Millions) 2018 Fair Description Valuation technique(s) value Unobservable input Private equity securities (1) Share price of recent transaction $ 32.5 Purchase share price $ 40.63 Private equity securities (1) Multiple of GAAP book value $ 14.7 Book value multiple 0.9 X Private debt instrument (1) Purchase price of recent transaction $ 9.0 Purchase price $ 9.0 Private debt instrument (1) Purchase price of recent transaction $ 6.0 Purchase price $ 6.0 Preferred stock (1) Share price of recent transaction $ 4.6 Purchase price $ 1.88 Weather derivatives (2) Third party appraisal $ 3.9 Broker quote $ 3.9 Common stock (1) Purchase price of recent transaction $ 0.9 Purchase price $ 1.88 Preferred stock (1) Share price of recent transaction $ 0.8 Purchase price $ 0.8 Common stock (1) Share price of recent transaction $ 0.3 Purchase price $ 10.0 Private debt instrument (1) Purchase price of recent transaction $ 0.2 Purchase price $ 0.2 Interest rate cap (2) Third party appraisal $ 0.2 Broker quote $ 0.2 Currency swaps (2) Third party appraisal $ (4.6) Broker quote $ (4.6) Contingent consideration External valuation model $ (28.8) Discounted future payments $ (28.8) (1) As of December 31, 2018, each asset type consists of one security. (2) See Note 13 for discussion of derivative instruments. (Millions) 2017 Fair Description Valuation technique(s) value Unobservable input Private equity securities (1) Share price of recent transaction $ 25.0 Purchase share price $ 31.25 Private equity securities (1) Multiple of GAAP book value $ 17.2 Book value multiple 1.0 X Private debt instrument (1) Purchase price of recent transaction $ 9.0 Purchase price $ 9.0 Private debt instrument (1) Purchase price of recent transaction $ 9.0 Purchase price $ 9.0 Preferred stock (1) Purchase price of recent transaction $ 6.0 Average share price $ 0.6 Weather derivatives (2) Third party appraisal $ 4.2 Broker quote $ 4.2 Private debt instrument (1) Internal valuation model $ 2.5 Purchase price less pay down $ 2.5 Preferred stock (1) Share price of recent transaction $ 2.0 Average share price $ 11.79 Private debt instrument (1) Purchase price of recent transaction $ 1.5 Purchase price $ 1.5 Interest rate cap (2) Third party appraisal $ 0.3 Broker quote $ 0.3 Currency swaps (2) Third party appraisal $ (10.6) Broker quote $ (10.6) Contingent consideration External valuation model $ (42.8) Discounted future payments $ (42.8) (1) As of December 31, 2017, each asset type consists of one security. (2) See Note 13 for discussion of derivative instruments. Financial instruments disclosed, but not carried at fair value Sirius Group uses various financial instruments in the normal course of its business. The carrying values of Cash, Accrued investment income, certain other assets, Accounts payable on unsettled investment purchases, certain other liabilities, and other financial instruments not included in the table below approximated their fair values at December 31, 2018 and 2017, due to their respective short maturities. As these financial instruments are not actively traded, their respective fair values are classified within Level 3. The following table includes financial instruments for which the carrying value differs from the estimated fair values at December 31, 2018 and 2017: 2018 2017 Fair Carrying Fair Carrying (Millions) Value (1) Value Value (1) Value Liabilities, Mezzanine equity, and Non-controlling interest: 2017 SEK Subordinated Notes $ 309.5 $ 303.6 $ 341.4 $ 330.7 2016 SIG Senior Notes $ 347.6 $ 393.2 $ 392.3 $ 392.5 Series B preference shares $ 191.7 $ 232.2 $ — $ — Series A redeemable preference shares $ — $ — $ 90.0 $ 106.1 (1) Fair value estimated by internal pricing and considered a Level 3 measurement. Fair Value Measurements on a Non-Recurring Basis Sirius Group measures the fair value of certain assets on a non-recurring basis, generally quarterly, annually, or when events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. These include goodwill, indefinite-lived intangible assets, and long-lived assets. Sirius Group uses a variety of techniques to measure the fair value of these assets when appropriate, as described below: Goodwill and Indefinite-Lived Intangible Assets: The preliminary fair value of the goodwill and indefinite-lived intangible asset acquired as part of the acquisitions of both IMG and Armada (see Note 3 ) was determined using the income valuation and market valuation methodologies. The income approach determines value for an asset based on the present value of cash flows projected to be generated over the remaining economic life of the asset being measured. The net cash flows are discounted to present value using a discount rate that reflects the relative risk of achieving the cash flow and the time value of money. The market approach is a valuation technique that uses prices and other relevant information generated by market transactions involving identical or comparable assets or group of assets. Determining the fair value goodwill and indefinite-lived intangible assets acquired requires the exercise of significant judgment, including the amount and timing of expected future cash flows, long-term growth rates and discount rates. The cash flows employed in the valuation are based on Sirius Group’s best estimates of future sales, earnings, and cash flows after considering factors such as general market conditions, changes in working capital, long term business plans, and recent operating performance. Use of different estimates and judgments could yield different results. Sirius Group tests goodwill and indefinite-lived intangible assets for impairment whenever events or changes in circumstances indicate the carrying amount may not be recoverable. When Sirius Group determines goodwill and indefinite-lived intangible assets may be impaired, Sirius Group uses techniques, including discounted expected future cash flows, to measure fair value. Sirius Group used Level 3 inputs to measure and record an $8.0 million and $5.0 million impairment of Trade Names indefinite-lived intangible asset during 2018 and 2017, respectively, that were recorded in Impairment of Intangible Assets in the Consolidated Statements of (Loss) Income. (See Note 10 ). Long-Lived Assets: Sirius Group tests its long-lived assets for impairment whenever events or changes in circumstances indicate the carrying amount of a long-lived asset may not be recoverable.

Goodwill and intangible assets

Goodwill and intangible assets	12 Months Ended
	Dec. 31, 2018
Goodwill and intangible assets
Goodwill and intangible assets	Note 10. Goodwill and intangible assets Goodwill represents the excess of the amount paid to acquire subsidiaries over the fair value of identifiable net assets at the date of acquisition. Intangible assets consist primarily of distribution relationships, trade names, customer relationships, technology, and insurance licenses. Finite-life intangible assets are measured at their acquisition date fair values, are amortized over their economic lives, and presented net of accumulated amortization on the balance sheet. Goodwill is not amortized, but rather is evaluated for impairment on an annual basis, or whenever indications of potential impairment exist. In the absence of any indications of potential impairment, the evaluation of goodwill is performed during the fourth quarter of each year. Sirius Group uses widely accepted valuation techniques to determine the fair value of its reporting units used in its annual goodwill impairment analysis. Sirius Group’s valuation is primarily based on qualitative and quantitative assessments regarding the fair value of the reporting unit relative to its carrying value. Sirius Group models the fair value of the reporting unit based on projected earnings and cash flows of the reporting unit. Intangible assets with indefinite lives are evaluated for impairment at least annually and when events or changes in circumstances indicate that it is more likely than not that the asset is impaired. The following table shows the change in goodwill, intangible assets with an indefinite life, and intangible assets with a finite life during the years ended December 31, 2018 and 2017: Intangible Intangible assets with an assets with (Millions) Goodwill indefinite life a finite life Total Net balance at December 31, 2016 (1) $ — $ 5.0 $ — $ 5.0 Additions (2) 400.7 27.0 199.5 627.2 Foreign currency translation (2) 0.3 — — 0.3 Impairments (2) — (5.0) — (5.0) Amortization — — (10.2) (10.2) Net balance at December 31, 2017 (2) 401.0 27.0 189.3 617.3 Additions (3) — 3.1 — 3.1 Foreign currency translation (2) (0.4) — — (0.4) Impairments (2) — (8.0) — (8.0) Amortization (2) — — (15.8) (15.8) Net balance at December 31, 2018 $ 400.6 $ 22.1 $ 173.5 $ 596.2 (1) Net balance at December 31, 2016 for Intangible assets with an indefinite life relate to insurance licenses allocated to the Runoff & Other segment. (2) Foreign currency translation, impairments, and amortization in 2017 and 2018 relate to Armada and IMG and are allocated to the Global A&H segment. (3) Additions in 2018 relate to insurance licenses allocated to the Runoff & Other segment. For the years ended December 31, 2018 and 2017, Sirius Group recognized an impairment of Intangible assets with an indefinite life that relate to a trade name intangible asset acquired as part of the acquisition of IMG. The impairments resulted from lower than anticipated growth when comparing the forecasted results against a reforecast of results at year end. A quantitative impairment review of the IMG trade name intangible asset was performed by applying the royalty replacement method to determine the asset’s fair value as of December 31, 2018 and 2017, respectively. Under the royalty replacement method, the fair value of IMG’s trade names intangible asset was determined based on a market participant’s view of the royalty that would be paid to license the right to use the trade name. This quantitative analysis incorporated several assumptions including forecasted future revenues and cash flows, estimated royalty rate, based on similar licensing transactions and market royalty rates, and discount rate, which incorporates assumptions such as weighted-average cost of capital and risk premium. As a result of the impairment testing, the carrying value of IMG’s trade names intangible asset exceeded its estimated fair value and an impairment of $ 8.0 million and $5.0 million was recorded as Impairment of intangible assets on the Consolidated Statements of (Loss) Income for the years ended December 31, 2018 and 2017, respectively. For the year ended December 31, 2016, Sirius Group did not recognize any impairments on Intangible assets with an indefinite life. The following tables presents the components of goodwill and intangible assets as of December 31, 2018 and 2017: 2018 Foreign Gross Accumulated currency Net (Millions) balance amortization Impairments translation balance Customer relationships – finite life (1) $ 17.0 $ (2.2) $ — $ — $ 14.8 Distribution relationships – finite life (1) 151.0 (15.8) — — 135.2 Goodwill – infinite life (1) 400.7 — — (0.1) 400.6 Insurance licenses – infinite life (2) 8.1 — — — 8.1 Technology – finite life (1) 15.5 (4.3) — — 11.2 Trade names – finite life (1) 16.0 (3.7) — — 12.3 Trade names – infinite life (1) 27.0 — (13.0) — 14.0 Net balance at December 31, 2018 $ 635.3 $ (26.0) $ (13.0) $ (0.1) $ 596.2 (1) Allocated to the Global A&H segment. (2) Allocated to the Runoff & Other segment. 2017 Foreign Gross Accumulated currency Net (Millions) balance amortization Impairments translation balance Customer relationships – finite life (1) $ 17.0 $ (0.8) $ — $ — $ 16.2 Distribution relationships – finite life (1) 151.0 (6.2) — — 144.8 Goodwill – infinite life (1) 400.7 — — 0.3 401.0 Insurance licenses – infinite life (2) 5.0 — — — 5.0 Technology – finite life (1) 15.5 (1.6) — — 13.9 Trade names – finite life (1) 16.0 (1.6) — — 14.4 Trade names – infinite life (1) 27.0 — (5.0) — 22.0 Net balance at December 31, 2017 $ 632.2 $ (10.2) $ (5.0) $ 0.3 $ 617.3 (1) Allocated to the Global A&H segment. (2) Allocated to the Runoff & Other segment. The amortization of intangibles assets for the year ended December 31, 2018 and 2017 was $15.8 million and $10.2 million, respectively. There was no amortization of intangible assets during the year ended December 31, 2016. The estimated remaining amortization expense for Sirius Group’s intangible assets with finite lives is as follows: (Millions) 2019 $ 15.8 2020 15.8 2021 15.8 2022 14.6 2023 13.8 2024 and thereafter 97.7 Total remaining amortization expense $ 173.5 The estimated remaining useful lives of these intangible assets range from 3.3 to 20.9 years.

Debt and standby letters of cre

Debt and standby letters of credit facilities	12 Months Ended
	Dec. 31, 2018
Debt and standby letters of credit facilities
Debt and standby letters of credit facilities	Note 11. Debt and standby letters of credit facilities Sirius Group’s debt outstanding as of December 31, 2018 and 2017 consisted of the following: December 31, Effective December 31, Effective (Millions) 2018 rate (1) 2017 rate (1) 2017 SEK Subordinated Notes, at face value $ 307.6 3.8 % $ 335.2 3.5 % Unamortized issuance costs (4.0) (4.5) 2017 SEK Subordinated Notes, carrying value 303.6 330.7 2016 SIG Senior Notes, at face value 400.0 4.7 % 400.0 4.7 % Unamortized discount (2.6) (2.9) Unamortized issuance costs (4.2) (4.6) 2016 SIG Senior Notes, carrying value 393.2 392.5 Total debt $ 696.8 $ 723.2 (1) Effective rate considers the effect of the debt issuance costs. A schedule of contractual repayments of Sirius Group’s debt as of December 31, 2018 follows: December 31, (Millions) 2018 Due in one year or less $ — Due in one to three years — Due in three to five years — Due after five years 707.6 Total $ 707.6 2017 SEK Subordinated Notes On September 22, 2017, Sirius Group issued floating rate callable subordinated notes denominated in Swedish kronor (“SEK”) in the amount of SEK 2,750.0 million (or $346.1 million on date of issuance) at a 100% issue price (“2017 SEK Subordinated Notes”). The 2017 SEK Subordinated Notes were issued in an offering that was exempt from the registration requirements of the Securities Act of 1933. The 2017 SEK Subordinated Notes bear interest on their principal amount at a floating rate equal to the applicable Stockholm Interbank Offered Rate (“STIBOR”) for the relevant interest period plus an applicable margin, payable quarterly in arrears on March 22, June 22, September 22, and December 22 in each year commencing on December 22, 2017, until maturity in September 2047. Beginning on September 22, 2022, the 2017 SEK Subordinated Notes may be redeemed, in whole or in part, at Sirius Group’s option. In addition, within 90 days following the occurrence of a Specified Event (as defined below), the 2017 SEK Subordinated Notes may be redeemed, in whole but not in part, at Sirius Group’s option. “Specified Event” means (a) an “Additional Amounts Event” in connection with a change in laws, rules or regulations as a result of which Sirius Group is obligated to pay additional amounts on the notes in respect of any withholding or deduction for taxes, (b) a “Tax Event” in connection with a change in laws, rules or regulations as a result of which interest on the notes is no longer fully deductible by Sirius Group for income tax purposes in the applicable jurisdiction (to the extent that such interest was so deductible as of the time of such Tax Event), (c) a “Rating Methodology Event” in connection with a change in, or clarification to, the rating methodology of Standard & Poor’s or Fitch that results in a materially unfavorable capital treatment of the notes, or (d) a “Regulatory Event” in connection with a change in, or clarification to, applicable supervisory regulations that results in the notes no longer qualifying as Tier 2 Capital. Sirius Group incurred $4.6 million in expenses related to the issuance of the 2017 SEK Subordinated Notes (including SEK 27.5 million, or $3.5 million, in underwriting fees), which have been deferred and are being recognized into interest expense over the life of the 2017 SEK Subordinated Notes. A portion of the proceeds were used to fully redeem the outstanding $250.0 million Sirius International Group, Ltd. Preference Shares. (See Note 15 ). Taking into effect the amortization of all underwriting and issuance expenses, and applicable STIBOR, the 2017 SEK Subordinated Notes yielded an effective rate of approximately 3.8% and 3.5% for the years ended December 31, 2018 and 2017, respectively. Sirius Group recorded $11.7 million and $3.3 million of interest expense, inclusive of amortization of issuance costs, on the 2017 SEK Subordinated Notes for the years ended December 31, 2018 and 2017, respectively. 2016 SIG Senior Notes On November 1, 2016, Sirius Group issued $400.0 million face value of senior unsecured notes (“2016 SIG Senior Notes”) at an issue price of 99.209% for net proceeds of $392.4 million after taking into effect both deferrable and non-deferrable issuance costs. The SIG Senior Notes were issued in an offering that was exempt from the registration requirements of the Securities Act of 1933. The 2016 SIG Senior Notes bear an annual interest rate of 4.6%, payable semi-annually in arrears on May 1 and November 1, in each year commencing on May 1, 2017, until maturity in November 2026. Sirius Group incurred $5.1 million in expenses related to the issuance of the 2016 SIG Senior Notes (including $3.4 million in underwriting fees), which have been deferred and are being recognized into interest expense over the life of the 2016 SIG Senior Notes. Taking into effect the amortization of the original issue discount and all underwriting and issuance expenses, the 2016 SIG Senior Notes yield an effective rate of approximately 4.7% per annum. Sirius Group recorded $19.1 million, $19.1 million, and $3.2 million of interest expense, inclusive of amortization of issuance costs on the 2016 SIG Senior Notes for the years ended December 31, 2018, 2017, and 2016, respectively. 2007 SIG Senior Notes During 2016, using the funds received from the issuance of the 2016 SIG Senior Notes, Sirius Group retired the $400.0 million face value of senior unsecured notes that were issued in 2007 (“2007 SIG Senior Notes”). The retirement of the 2007 SIG Senior Notes resulted in a $5.7 million loss recorded in interest expense, which includes the write-off of the remaining $0.1 million in unamortized deferred costs and original issue discount at the time of retirement. In anticipation of the issuance of the 2007 SIG Senior Notes, Sirius Group entered into an interest rate lock agreement to hedge its interest rate exposure from the date of the agreement until the pricing of the 2007 SIG Senior Notes. The agreement was terminated on March 15, 2007 with a loss of $2.4 million, which was recorded in other comprehensive income. The loss was reclassified from accumulated other comprehensive income over the life of the 2007 SIG Senior Notes using the interest method and was included in interest expense until it was retired in 2016. When the 2007 SIG Senior Notes were retired, the $0.1 million loss remaining in accumulated other comprehensive income was reclassified to interest expense. Prior to retirement, taking into effect the amortization of the original issue discount and all underwriting and issuance expenses, including the interest rate lock agreement, the 2007 SIG Senior Notes yielded an effective rate of approximately 6.5% per annum. Sirius Group recorded $31.2 million of interest expense, inclusive of loss on repurchase, amortization of issuance costs and the interest rate lock agreement, on the 2007 SIG Senior Notes for each of the year ended December 31, 2016. Old Lyme Note On April 25, 2017, Sirius Group made a payment of $3.8 million to retire the Old Lyme Note that was originally issued as part of the acquisition of the runoff loss reserve portfolio of Old Lyme Insurance Company Ltd. As part of the acquisition in 2011, Sirius Group entered into a five-year $2.1 million note that was subject to upward adjustments for favorable loss reserve development (up to 50% of $6.0 million) and downward adjustments for any adverse loss reserve development. From inception, Sirius Group had favorable loss reserve development of $3.4 million on the Old Lyme loss reserve position that resulted in an increase of $1.7 million on the Old Lyme Note. Standby Letter of Credit Facilities On November 9, 2018, Sirius International renewed two standby letter of credit facility agreements totaling $160 million to provide capital support for Lloyd’s Syndicate 1945. The first letter of credit is a renewal of a $125 million facility with Nordea Bank Finland Abp, London Branch, which is issued on an unsecured basis. The second letter of credit is a $35 million facility with DNB Bank ASA, Sweden Branch, $25 million of which is issued on an unsecured basis. Each facility is renewable annually. The above referenced facilities are subject to various affirmative, negative and financial covenants that the Company considers to be customary for such borrowings, including certain minimum net worth and maximum debt to capitalization standards. Sirius International has other secured letter of credit and trust arrangements with various financial institutions to support its insurance operations. As of December 31, 2018 and 2017, respectively, these secured letter of credit and trust arrangements were collateralized by pledged assets and assets in trust of SEK 2.9 billion and SEK 2.1 billion, or $321.3 million and $261.2 million (based on the December 31, 2018 and December 31, 2017 SEK to USD exchange rates). As of December 31, 2018 and 2017, respectively, Sirius America’s trust arrangements were collateralized by pledged assets and assets in trust of $56.2 million and $55.8 million. As of December 31, 2018 and 2017, respectively, Sirius Bermuda Insurance Company’s (“Sirius Bermuda”) trust arrangements were collateralized by pledged assets and assets in trust of $319.7 million and $123.3 million. Revolving Credit Facility In February 2018, Sirius Group, through its indirectly wholly-owned subsidiary Sirius International Group, Ltd., entered into a three-year, $300 million senior unsecured revolving credit facility (the "Facility"). The Facility provides access to loans for working capital and general corporate purposes, and letters of credit to support obligations under insurance and reinsurance agreements and retrocessional agreements. The Facility is subject to various affirmative, negative and financial covenants that Sirius Group considers to be customary for such borrowings, including certain minimum net worth, maximum debt to capitalization and financial strength rating standards. As of December 31, 2018, there were no outstanding borrowings under the Facility. Debt and Standby Letter of Credit Facility Covenants As of December 31, 2018, Sirius Group was in compliance with all of the covenants under the 2017 SEK Subordinated Notes, the 2016 SIG Senior Notes, the Nordea Bank Finland Abp, London Branch facility, and the DNB Bank ASA, Sweden Branch facility. In addition, as of December 31, 2018, Sirius Group was in compliance with all of the covenants under the Facility. Interest Total interest expense incurred by Sirius Group for its indebtedness was $30.8 million, $22.4 million, and $34.6 million in 2018, 2017, and 2016. Total interest paid by Sirius Group for its indebtedness was $30.0 million, $22.0 million, and $31.6 million in 2018, 2017, and 2016, respectively.

Income taxes

Income taxes	12 Months Ended
	Dec. 31, 2018
Income taxes
Income taxes	Note 12. Income taxes The Company and its Bermuda domiciled subsidiaries are not subject to Bermuda income tax under current Bermuda law. In the event there is a change in the current law such that taxes are imposed, the Company and its Bermuda domiciled subsidiaries would be exempt from such tax until March 31, 2035, pursuant to the Bermuda Exempted Undertakings Tax Protection Act of 1966. The Company has subsidiaries and branches that operate in various other jurisdictions around the world that are subject to tax in the jurisdictions in which they operate. The jurisdictions in which the Company’s subsidiaries and branches are subject to tax are Australia, Belgium, Canada, Denmark, Germany, Gibraltar, Hong Kong (China), Luxembourg, Malaysia, the Netherlands, Shanghai (China), Singapore, Spain, Sweden, Switzerland, the United Kingdom, and the United States. Sirius Group’s net income (loss) before income taxes for the years ended December 31, 2018, 2017, and 2016 was generated in the following domestic and foreign jurisdictions: (Millions) 2018 2017 2016 Domestic: Bermuda $ 62.7 $ (95.0) $ (4.9) Foreign: U.S. (10.1) (22.4) (25.3) U.K. (14.9) (27.0) (7.0) Sweden (74.2) (26.1) (29.5) Luxembourg 60.3 43.4 105.3 Netherlands (0.1) 18.2 (0.1) Other — (1.0) (0.6) Total income (loss) before income taxes $ 23.7 $ (109.9) $ 37.9 The total income tax (expense) benefit for the years ended December 31, 2018, 2017, and 2016 consisted of the following: (Millions) 2018 2017 2016 Current tax (expense): U.S. Federal $ (7.0) $ (0.9) $ 2.1 State (2.2) (2.0) (1.7) Non-U.S. (19.8) (3.6) (11.4) Total current tax (expense) (29.0) (6.5) (11.0) Deferred tax (expense) benefit: U.S. Federal 14.5 (10.7) 16.0 State — — — Non-U.S. (25.9) (9.2) 2.3 Total deferred tax (expense) benefit (11.4) (19.9) 18.3 Total income tax (expense) benefit $ (40.4) $ (26.4) $ 7.3 Effective Rate Reconciliation A reconciliation of taxes calculated using the 22% Swedish statutory rate (the rate at which the majority of Sirius Group’s worldwide operations are taxed) to the income tax (expense) benefit on pre-tax income follows: (Millions) 2018 2017 2016 Tax (expense) benefit at the statutory rate $ (5.2) $ 24.2 $ (8.3) Differences in taxes resulting from: Tax reserve adjustments (42.0) (0.7) (6.0) Tax rate change enacted in Sweden 15.4 — — Tax on Safety Reserve (15.3) — — Foreign tax credits 10.8 2.2 6.9 Section 197 Intangible as result of internal restructuring 6.9 — — Non-Sweden earnings 2.3 (18.4) (6.9) Gain on internal restructuring (9.1) — — State taxes expense (2.9) (0.7) (1.1) Change in valuation allowance 2.3 1.4 55.0 Withholding taxes (1.9) (0.8) (1.4) Tax rate change - other 0.1 (29.7) — Tax rate change enacted in Luxembourg — 0.4 (30.6) Other, net (1.8) (4.3) (0.3) Total income tax (expense) benefit on pre-tax earnings $ (40.4) $ (26.4) $ 7.3 The non-Sweden component of pre-tax (loss) income was $97.9 million, $(83.8) million, and $67.3 million for the years ended December 31, 2018, 2017, and 2016, respectively. Effective January 1, 2019, Sweden enacted reductions in its corporate tax rate from 22% to 21.4% from 2019 and then to 20.6% from 2021. This resulted in a reduction in the net deferred tax liability for Sirius Group’s Swedish entities as of December 31, 2018 in the amount of $15.4 million. Further, as part of the same enacted tax legislation, Sweden introduced a standard taxable yield on property and casualty insurance companies’ safety reserves. Insurers recognizing a safety reserve must recognize an annual standard yield on safety reserve as taxable income. The standard income is equal to the government bond rate at the end of November the year before the year during which the insurers income year ends multiplied by the opening balance of the safety reserve for that year. In addition, an insurer with a safety reserve opening balance on January 1, 2021 is required to recognize notional taxable income equal to 6% of the safety reserve at the start of that income year. As a result of this newly enacted one-time tax determined by reference to the future safety reserve balance, Sirius Group has recorded a deferred tax expense of $15.3 million as of December 31, 2018. The Company previously applied Staff Accounting Bulletin 118 (“SAB 118”), which provided guidance on accounting for the tax effects of the TCJA which was enacted into law in the U.S. in December 2017. SAB 118 addresses situations where accounting for certain income tax effects of the TCJA under ASC 740, Income Taxes (“ASC 740”), may be incomplete upon issuance of an entity’s financial statements and provides a one-year measurement period from the enactment date to complete the accounting under ASC 740. The Company has completed its accounting for all material tax effects of the TCJA and has recognized adjustments as of December 31, 2018 as described below. The TCJA includes a new 21% corporate tax rate, the impacts of which (including on Sirius Group’s deferred tax assets) were already taken into account in Sirius Group’s financial results for the year ended December 31, 2017. The TCJA also includes a new BEAT provision, which is essentially a minimum tax that is potentially applicable to certain otherwise deductible payments made by U.S. entities to non-U.S. affiliates, including cross-border interest payments and reinsurance premiums. The statutory BEAT rate is 5% in 2018 and will rise to 10% in 2019-2025 and then 12.5% in 2026 and thereafter. The TCJA also includes provisions for GILTI under which taxes on foreign income are imposed on the excess of a deemed return on tangible assets of certain foreign subsidiaries. Consistent with accounting guidance, Sirius Group will treat BEAT as an in period tax charge when incurred in future periods for which no deferred taxes need to be provided and has made an accounting policy election to treat GILTI taxes in a similar manner. No provision for income taxes related to BEAT or GILTI was recorded as of December 31, 2018. Sirius Group has completed its accounting for loss reserves based on the new discounting methodology prescribed by the TCJA and recognized an adjustment of $3.5 million without a net impact on total taxes since an offsetting deferred tax asset would also be recorded. Sirius Group has capital and liquidity in many of its subsidiaries, some of which may reflect undistributed earnings. If such capital or liquidity were to be paid or distributed to the Company or Sirius Group’s subsidiaries, as dividends or otherwise, they may be subject to income or withholding taxes. Sirius Group generally intends to operate, and manage its capital and liquidity, in a tax-efficient manner. However, the applicable tax laws in relevant countries are still evolving, including in response to guidance from the Organisation for Economic Cooperation and Development. Accordingly, such payments or earnings may be subject to income or withholding tax in jurisdictions where they are not currently taxed or at higher rates of tax than currently taxed, and the applicable tax authorities could attempt to apply income or withholding tax to past earnings or payments. Tax Payments and Receipts Net income tax payments to national, state, and local governments totaled $19.1 million, $16.7 million, and $8.3 million for the years ended December 31, 2018, 2017, and 2016, respectively. Deferred Tax Inventory Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts for tax purposes. An outline of the significant components of Sirius Group’s deferred tax assets and liabilities follows: (Millions) 2018 2017 Deferred income tax assets related to: Non-U.S. net operating loss carry forwards $ 249.8 $ 305.1 U.S. federal net operating loss and capital carry forwards 33.8 34.7 Tax credit carry forwards 28.7 18.3 Loss reserve discount 7.3 8.9 Unearned premiums 3.1 1.5 Deferred interest 2.1 0.2 Incentive compensation and benefits accruals 1.9 2.0 Allowance for doubtful accounts 1.4 1.4 Foreign currency translations on investments and other assets 0.8 — Net unrealized investment losses — 1.8 Other items 2.7 3.6 Total gross deferred income tax assets 331.6 377.5 Valuation allowance (64.3) (71.8) Total adjusted deferred tax asset 267.3 305.7 Deferred income tax liabilities related to: Safety reserve (See Note 18) 261.1 286.6 Intangible assets 28.7 42.0 Deferred acquisition costs 3.1 1.2 Purchase accounting 3.0 2.4 Investment basis differences 2.4 1.1 Net unrealized investment gains 0.3 — Foreign currency translations on investments and other assets — 7.3 Other items 3.6 3.2 Total deferred income tax liabilities 302.2 343.8 Net deferred tax (liability) asset $ (34.9) $ (38.1) Sirius Group’s deferred tax assets are net of U.S. federal and non-U.S. valuation allowances and, to the extent they relate to non-U.S. jurisdictions, they are shown at year-end exchange rates. Of the $34.9 million net deferred tax liability as of December 31, 2018, $32.8 million relates to net deferred tax assets in U.S. subsidiaries, $155.8 million relates to net deferred tax assets in Luxembourg subsidiaries, $12.6 million relates to net deferred tax assets in United Kingdom subsidiaries and $236.1 million relates to net deferred tax liabilities in Sweden subsidiaries. Net Operating Loss and Capital Loss Carryforwards Net operating loss and capital loss carryforwards as of December 31, 2018, the expiration dates, and the deferred tax assets thereon are as follows: (Millions) 2018 United States Luxembourg Sweden U.K. Total 2019-2023 $ 8.7 $ — $ — $ — $ 8.7 2024-2038 151.9 0.1 — — 152.0 No expiration date — 871.5 273.0 72.0 1,216.5 Total 160.6 871.6 273.0 72.0 1,377.2 Gross deferred tax asset 33.8 226.7 10.8 12.3 283.6 Valuation allowance — (64.6) — — (64.6) Net deferred tax asset $ 33.8 $ 162.1 $ 10.8 $ 12.3 $ 219.0 Sirius Group expects to utilize net operating loss carryforwards in Luxembourg of $668.9 million but does not expect to utilize the remainder as they belong to companies that are not expected to have sufficient taxable income in the future. Included in the U.S. net operating loss carryforwards are losses of $102.2 million subject to an annual limitation on utilization under Internal Revenue Code Section 382 and $11.0 million are subject to separately return limitation year (“SRLY”) provisions of the consolidated return regulations. Of the Section 382 limited loss carryforwards, $9.6 million will expire between 2022 and 2025 and $92.6 million will expire between 2030 and 2032. The SRLY limited losses will expire between 2036 and 2037. Sirius Group expects to utilize all of the U.S. net operating loss carryforwards. As of December 31, 2018, there are U.S. foreign tax credits carryforwards available of $16.7 million, of which an insignificant amount expires in 2019, and the remaining, which Sirius Group expects to use, will begin to expire in 2022. As of December 31, 2018, there are alternative minimum tax credit carryforwards of $0.1 million which do not expire and are expected to become fully refundable beginning in the 2022 tax year under the TCJA. Further, there are Swedish foreign tax credits carryforwards available of $11.9 million, which Sirius Group expects to use, and will expire between 2021 and 2023. Valuation Allowance Sirius Group records a valuation allowance against deferred tax assets if it becomes more likely than not that all or a portion of a deferred tax asset will not be realized. Changes in valuation allowances from period to period are included in income tax expense in the period of change. In determining whether or not a valuation allowance, or change therein, is warranted, Sirius Group considers factors such as prior earnings history, expected future earnings, carryback and carryforward periods, and strategies that if executed would result in the realization of a deferred tax asset. It is possible that certain planning strategies or projected earnings in certain subsidiaries may not be feasible to utilize the entire deferred tax asset, which could result in material changes to Sirius Group’s deferred tax assets and tax expense. Of the $64.6 million valuation allowance as of December 31, 2018, $64.6 million relates to net operating loss carryforwards in Luxembourg subsidiaries and an insignificant amount relates to other deferred tax assets in Swedish and United States subsidiaries. Foreign Tax Credits Sirius Re Holdings, Inc. (“SReHi”) has an immaterial valuation allowance on foreign tax credits, which will expire in 2019. SReHi has an additional $16.7 million of foreign tax credits that will expire between the years 2020 and 2027, which are expected to be fully utilized. Sirius International Insurance Corporation (publ.) has $11.9 million of foreign tax credits that will expire between 2021 and 2023 and are expected to be fully utilized. Uncertain Tax Positions Recognition of the benefit of a given tax position is based upon whether a company determines that it is more likely than not that a tax position will be sustained upon examination based upon the technical merits of the position. In evaluating the more likely than not recognition threshold, Sirius Group must presume that the tax position will be subject to examination by a taxing authority with full knowledge of all relevant information. If the recognition threshold is met, then the tax position is measured at the largest amount of benefit that is more than 50% likely of being realized upon ultimate settlement. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: Permanent Temporary Interest and (Millions) differences (1) differences (2) penalties (3) Total Balance at January 1, 2016 $ 19.8 $ 6.6 $ — $ 26.4 Changes in prior year tax positions — — — — Tax positions taken during the current year 4.4 (2.5) 0.2 2.1 Lapse in statute of limitations — — — — Settlements with tax authorities — — — — Balance at December 31, 2016 $ 24.2 $ 4.1 $ 0.2 $ 28.5 Changes in prior year tax positions 0.2 (0.1) 0.1 0.2 Tax positions taken during the current year 3.8 (2.2) — 1.6 Lapse in statute of limitations (0.5) — — (0.5) Settlements with tax authorities (0.3) — (0.2) (0.5) Balance at December 31, 2017 $ 27.4 $ 1.8 $ 0.1 $ 29.3 Changes in prior year tax positions 1.4 — 0.1 1.5 Tax positions taken during the current year 36.2 (1.7) — 34.5 Lapse in statute of limitations — — — — Settlements with tax authorities (0.1) — — (0.1) Balance at December 31, 2018 $ 64.9 $ 0.1 $ 0.2 $ 65.2 (1) Represents the amount of unrecognized tax benefits that, if recognized, would impact the effective tax rate. (2) Represents the amount of unrecognized tax benefits that, if recognized, would create a temporary difference between the reported amount of an item in the Consolidated Balance Sheets and its tax basis. (3) Net of tax benefit. If Sirius Group determines in the future that its reserves for unrecognized tax benefits on permanent differences and interest and penalties are not needed, the reversal of $64.9 million of such reserves as of December 31, 2018 would be recorded as an income tax benefit and would impact the effective tax rate. If Sirius Group determines in the future that its reserves for unrecognized tax benefits on temporary differences are not needed, the reversal of $0.1 million of such reserves as of December 31, 2018 would not impact the effective tax rate due to deferred tax accounting but would accelerate the payment of cash to the taxing authority. Most of Sirius Group’s reserves for unrecognized tax benefits on permanent differences relate to interest deductions denied by the Swedish Tax Authority ("STA"), as described further below. Sirius Group classifies all interest and penalties on unrecognized tax benefits as part of income tax expense. During the years ended December 31, 2018, 2017, and 2016, Sirius Group recognized $0.1 million, $(0.1) million, and $0.2 million in interest income (expense), respectively, net of any tax benefit. The balance of accrued interest as of December 31, 2018 and 2017 is $0.2 million and $0.1 million, respectively, net of any tax benefit. Tax Examinations The STA has denied deductions claimed by two of the Company’s Swedish subsidiaries in certain tax years for interest paid on intra-group debt instruments. Sirius Group has challenged the STA's denial in court based on the technical merits. In October 2018, one of the Swedish subsidiaries received an adverse decision from Sweden's Administrative Court, which Sirius Group has appealed. Sirius Group has taken into account this and other relevant developments in applicable Swedish tax law and has established a reserve for this uncertain tax position. As of December 31, 2018, the total amount of such reserve was $62.2 million. In connection with this matter, Sirius Group has also taken into account the SPA by which Sirius Group was sold to CMIG International in 2016 and has recorded an indemnification asset. Pursuant to the SPA, the seller agreed to indemnify the buyer and Sirius Group for, among other things, (1) any additional tax liability in excess of Sirius Group's accounting for uncertain tax positions for tax periods prior to the sale of Sirius Group to CMIG International, and (2) an impairment in Sirius Group's net deferred tax assets resulting from a final determination by a tax authority. While Sirius Group is continuing to challenge the STA's denial based on the technical merits by appealing the adverse court decision received in October 2018, the ultimate resolution of these tax disputes is uncertain and no assurance can be given that there will be no material changes to Sirius Group's operating results or balance sheet in connection with these uncertain tax positions or the related indemnification. With few exceptions, Sirius Group is no longer subject to U.S. federal, state or non-U.S. income tax examinations by tax authorities for years before 2014.

Derivatives

Derivatives	12 Months Ended
	Dec. 31, 2018
Derivatives
Derivatives	Note 13. Derivatives Interest Rate Cap Sirius Group entered into an interest rate swap (“Interest Rate Cap”) with two financial institutions where it paid an upfront premium and in return receives a series of quarterly payments based on the 3-month London Interbank Offered Rate (“LIBOR”) at the time of payment. The Interest Rate Cap does not qualify for hedge accounting. Changes in fair value are recognized as unrealized gains or losses and are presented within Other revenue. The fair value of the interest rate cap has been estimated using a non-binding single broker quote and, accordingly, has been classified as a Level 3 measurement as of December 31, 2018 and 2017. Collateral held is recorded within short-term investments with an equal amount recognized as a liability to return collateral. Sirius Group’s liability to return that collateral is based on the amounts provided by the counterparties and investment earnings thereon. The following table summarizes the Interest Rate Cap collateral balances held by Sirius Group and ratings by counterparty: 2018 (Millions) Collateral Balances Held S&P Rating (1) Barclays Bank Plc $ 0.2 A Nordea Bank Finland Abp 0.1 AA- Total $ 0.3 (1) Standard & Poor’s ratings as detailed above are: “AA -" (Very Strong, which is the fourth highest of twenty-three creditworthiness ratings) and “A” (Strong, which is the sixth highest of twenty-three credit worthiness ratings) . Foreign Currency Swaps Sirius Group executes foreign currency swaps to manage foreign currency exposure. The foreign currency swaps have not been designated or accounted for under hedge accounting. Changes in fair value are recognized as unrealized gains or losses and are presented within Net foreign exchange gains (losses). The fair value of the foreign currency swaps has been estimated using a non-binding single broker quote and accordingly, has been classified as a Level 3 measurement as of December 31, 2018 and 2017. Sirius Group does not provide or hold any collateral associated with the swaps. Foreign Currency Forward During 2016, Sirius Group executed a foreign currency forward to manage currency exposure against a foreign currency investment. During 2017, the foreign currency forward expired and was not renewed. The foreign currency forward was not designated or accounted for under hedge accounting. Changes in fair value are presented within Net foreign exchange gains (losses). The fair value of the foreign currency forward was estimated using a non-binding single broker quote and, accordingly, was classified as a Level 3 measurement. Sirius Group did not provide or hold any collateral associated with the forwards. Weather Derivatives Sirius Group holds assets and assumes liabilities related to weather and weather contingent risk management products. Weather and weather contingent derivative contracts are entered into with the objective of generating profits in normal climatic conditions. Accordingly, Sirius Group’s weather and weather contingent derivatives are not designed to meet the criteria for hedge accounting under GAAP. Sirius Group receives payment of premium at the contract inception in exchange for bearing the risk of variations in a quantifiable weather index. Changes in fair value are recognized as unrealized gains or losses and are presented within Other revenue. Management uses available market data and internal pricing models based upon consistent statistical methodologies to estimate the fair value. Because of the significance of the unobservable inputs used to estimate the fair value of Sirius Group’s weather risk contracts, the fair value measurements of the contracts are deemed to be Level 3 measurements in the fair value hierarchy as at December 31, 2018 and 2017. Sirius Group does not provide or hold any collateral associated with the weather derivatives. Equity Futures Contracts During 2018, Sirius Group executed trades in equity futures contracts to hedge against a long position in Common equities. During 2018, the equity futures contracts were exited and were not renewed. The equity futures contracts were not designated or accounted for under hedge accounting. Changes in fair value are presented within Net realized investment gains (losses). The fair value of the equity put options is widely available and have quoted prices in active markets and accordingly, were classified as a Level 1 measurement. Equity Put Options During 2018, Sirius Group sold equity put options to hedge against a long position in Common equities. The equity put options were not designated or accounted for under hedge accounting. Changes in fair value are presented within Net unrealized investment (losses) gains. The fair value of the equity put options is widely available and have quoted prices in active markets and accordingly, were classified as a Level 1 measurement. The following tables summarize information on the classification and amount of the fair value of derivatives not designated as hedging instruments within the Company’s Consolidated Balance Sheets as at December 31, 2018 and 2017: (Millions) 2018 2017 Liability Liability Derivatives not derivative at derivative at designated as hedging Asset derivative fair Asset derivative fair instruments Notional value at fair value (1) value (2) Notional value at fair value (1) value (2) Interest rate cap $ 250.0 $ 0.2 $ — $ 250.0 $ 0.3 $ — Foreign currency swaps $ 45.0 $ — $ 4.6 $ 45.0 $ — $ 10.6 Weather derivatives $ 150.5 $ 3.9 $ — $ 113.3 $ 4.2 $ — Equity put options $ 6.2 $ — $ 0.5 $ — $ — $ — (1) Asset derivatives are classified within Other assets within the Company’s Consolidated Balance Sheets at December 31, 2018 and 2017. (2) Liability derivatives are classified within Other liabilities within the Company’s Consolidated Balance Sheets at December 31, 2018 and 2017. The following table summarizes information on the classification and net impact on earnings, recognized in the Company’s Consolidated Statements of (Loss) Income relating to derivatives during the years ended December 31, 2018, 2017 and 2016: (Millions) Derivatives not designated as hedging instruments Classification of gains (losses) recognized in earnings 2018 2017 2016 Interest rate cap Other revenues $ 0.1 $ (1.5) $ (0.2) Foreign currency swaps Net foreign exchange gains (losses) $ 6.9 $ (11.3) $ 6.6 Foreign currency forwards (1) Net foreign exchange gains (losses) $ — $ (0.3) $ — Weather derivatives Other revenues $ 5.2 $ (1.5) $ 5.2 Equity futures contracts (2) Net realized investment gains (losses) $ 1.7 $ — $ — (1) There were no Foreign currency forwards at December 31, 2017 and an insignificant amount at December 31, 2016 on the Consolidated Balance Sheets . (2) There were no Equity futures contracts at December 31, 2018.

Employee benefit plans and comp

Employee benefit plans and compensation plans	12 Months Ended
	Dec. 31, 2018
Employee benefit plans and compensation plans
Employee benefit plans and compensation plans	Note 14. Employee benefit plans and compensation plans Employee Benefit Plans Sirius Group operates several retirement plans in accordance with the local regulations and practices. These plans cover substantially all Sirius Group employees and provide benefits to employees in event of death, disability, or retirement. Defined benefit plans Swedish and German employees of Sirius International can participate in defined benefit plans which are based on the employees’ pension entitlements and length of employment. In Sweden, where a defined benefit pension plan is mandated by the government, Sirius International’s employees participate in collective agreements funded by Sirius International. These collective agreements are managed by third party trustees who calculate the pension obligation, invoice Sirius International for additional funding, and invest the funds. All employees in Germany are covered by defined benefit pension plans sponsored by Sirius International called Sirius Rückversicherungs Service GmbH Pension Plan. Paid pension premiums are invested with Skandia Liv for employees in Sweden and with Allianz for employees in Germany. Skanda Liv held 94% and 94% of total plan assets in 2018 and 2017, respectively. Allianz held 6% and 6% of total plan assets in 2018 and 2017, respectively. Skandia manages the portfolio to be able to pay a guaranteed amount and a favorable return over time with the goal of getting the highest possible return along with well-balanced risk. The average return for the period 2016 through 2018 was 6.4%. The investment directive is decided by the Skandia Liv board of directors. To achieve the goals the portfolio is diversified with the asset allocation shown below. The breakdown of the investment of plan assets for the years ended December 31, 2018 and 2017 are as follows: 2018 2017 International equities 11.4 % 18.1 % Swedish equities 7.5 % 9.8 % Swedish nominal bonds 40.3 % 32.7 % Real estate 11.2 % 11.3 % Private equity 10.4 % 9.7 % Other 19.2 % 18.4 % The assumptions used to determine Swedish benefit obligations for the years ended December 31, 2018 and 2017 are as follows: 2018 2017 Discount rate 2.5 % 2.5 % Increase in compensation levels rate 3.2 % 3.2 % Turnover rate 3.0 % 3.0 % The Swedish actuaries follow the Swedish industry DUS14 mortality rate. The discount rate used to calculate the Swedish benefit obligation was derived from the expected return of an investment in Swedish covered mortgage bonds with a duration in accordance with the duration of the pension obligation. The duration of the Swedish pension liability is approximately 20 years. The assumptions used to determine German benefit obligations for the years ended December 31, 2018 and 2017 are as follows: 2018 2017 Discount rate 1.7 % 1.7 % Increase in compensation levels rate 2.0 % 2.0 % The German actuaries follow the Germany industry Richttafeln 2018 G mortality rates and standard turnover values for the years ended December 31, 2018 and 2017. The discount rate used to calculate the German benefit obligation was derived from markets yields on high quality corporate bonds with durations consistent with plan obligations. The duration of the German pension liability is approximately 18 years. The following tables present a reconciliation of the beginning and ending funded status and the net amounts recognized for the defined benefit plans for the years ended December 31, 2018 and 2017: (Millions) 2018 2017 Change in benefit obligation Projected benefit obligation, beginning of year $ 17.4 $ 14.9 Service cost 1.0 0.8 Interest cost 0.4 0.3 Actuarial losses 0.6 0.4 Benefit payments (0.4) (0.5) Tax payments (0.2) (0.2) Currency revaluation effect (1.3) 1.7 Projected benefit obligation, end of year 17.5 17.4 Change in plan assets Fair value of plan assets, beginning of year 16.1 11.6 Employer contributions 1.2 0.9 Benefit payments (0.3) (0.3) Interest income 0.8 2.5 Currency revaluation effect (1.4) 1.4 Fair value of plan assets, end of year 16.4 16.1 Funded status at end of year (1) $ (1.1) $ (1.3) (1) At December 31, 2018, the Swedish plan had a funding status of $3.0 and the German plan had a funding status of $(4.1). At December 31, 2017, the Swedish plan had a funding status of $3.1 and the German plan had a funding status of $(4.4). Under the Swedish plan, a 100 basis point discount rate decrease would increase the 2019 defined benefit obligation by $2.3 million, with all other items remaining the same. Under the German plan, a 50 basis point decrease in the discount rate would increase the benefit obligation by $0.5 million, with all other items remaining the same. Conversely, a 50 basis point increase in the discount rate would decrease the benefit obligation by $0.4 million. The accumulated benefit obligation for the years ended December 31, 2018 and 2017 was $17.5 million and $17.4 million, respectively. The components of net periodic pension expense for the years ended December 31, 2018, 2017, and 2016 are as follows: (Millions) 2018 2017 2016 Service cost $ (1.2) $ (0.8) $ (0.9) Interest cost 0.1 2.2 — Actuarial (loss) (0.8) (0.3) (0.9) Net periodic pension expense $ (1.9) $ 1.1 $ (1.8) The employer benefit payments/settlements for the years ended December 31, 2018 and 2017 were $0.4 million and $0.2 million, respectively. As at December 31, 2018, the projected benefit payments required for the defined pension benefits plans are as follows: (Millions) December 31, 2018 2019 $ 0.4 2020 0.4 2021 0.4 2022 0.4 2023 0.4 2024-2028 2.9 Total benefit payments required $ 4.9 Defined contributions plans Non-U.S. In the United Kingdom, Sirius International contributes 12% of the employee’s salary. Contributed funds are invested into an annuity of the employee’s choice. In Belgium, Sirius International contributes 6.5%-8.5% of the employee’s salary. Employees in Switzerland are eligible to participate in the industry-sponsored Swisscanto pension plan (“Swisscanto plan”). The Swisscanto plan is a combination of a defined contribution and a defined benefit plan. For the Swisscanto plan, Sirius International incurs 60%-70% of the total premium charges and the employees incur the remaining 30-40%. As of December 31, 2018 and 2017, the projected benefit obligation of Sirius International’s various benefit plans was $17.5 million and $17.4 million, and the funded status was $(1.1) million and $(1.3) million, respectively. Sirius International recognized expenses related to these various plans of $7.6 million, $4.9 million, and $7.3 million in 2018, 2017, and 2016, respectively. Sirius Bermuda sponsors defined contribution plans, which cover substantially all of the employees of Sirius Bermuda. Under these plans, Sirius Bermuda is required to contribute 10% of each participant’s salary into an individual account maintained by an independent pension administrator. Employees become vested in the Sirius Bermuda contributions after two years of service. Sirius Bermuda recognized expenses of $0.5 million and $0.4 million during the years ended December 31, 2018 and 2017, respectively. In previous years, employees of Sirius Bermuda were covered by Sirius International sponsored plans and Sirius International incurred expenses of $0.5 million during the year ended December 31, 2016. U.S. Sirius International Holding Company, Inc. (“SIHC”) sponsors a defined contribution plan (the “SIHC 401(k) Plan”) which offers participants the ability to invest their balances in several different investment options. The SIHC 401(k) Plan provides qualifying employees with matching contributions of 100% up to the first 2% and 50% of the next 4% of salary (subject to U.S. federal limits on allowable contributions in a given year). Total expense for matching contributions to the plan was $0.8 million, $1.3 million, and $0.7 million in 2018, 2017, and 2016, respectively. Additionally, all participants in the SIHC 401(k) Plan can earn a variable contribution of up to 7% of their salary, subject to the applicable IRS annual covered compensation limits ($0.3 million for 2018) and contingent upon Sirius Group’s performance. During 2018, there were no variable contributions to the SIHC 401(k) Plan. Total expense for variable contributions to the SIHC 401(k) Plan was $0.3 million and $0.4 million in 2017 and 2016, respectively. IMG sponsors a 401(k) retirement savings plan (the “IMG 401(k) Plan”). IMG 401(k) Plan participants may elect to have a percentage of their salaries contributed to the IMG 401(k) Plan on a pre-tax basis subject to annual limits prescribed under the Internal Revenue Code. IMG makes safe harbor matching contributions to the IMG 401(k) Plan equal to 100% of participants’ deferrals up to the first 1% of eligible compensation and 50% of participants’ deferrals between 1% and 6% of eligible compensation. IMG may also elect to make discretionary contributions to the IMG 401(k) Plan which are allocated based on compensation. IMG made matching contributions to the IMG 401(k) Plan of $0.6 million during 2018 and $0.3 million from the date of acquisition to December 31, 2017. Armada maintains a qualified 401(k) plan (the “Armada 401(k) Plan”). Under provisions of the Armada 401(k) Plan, Armada may make discretionary, matching contributions. Matching contributions into the Armada 401(k) Plan totaled $0.2 million during 2018 and $0.1 million from the date of acquisition to December 31, 2017. Share-Based and Other Long-Term Incentive Compensation Plans Starting in 2018, the Company has issued equity incentives for certain employees under the Employee Share Purchase Plan and the 2018 Omnibus Plan and for other non-employee independent directors. For the year ended December 31, 2018, the Company recorded $2.5 million of share-based compensation expense under these plans. Employee Share Purchase Plan Effective August 22, 2018, the Company established an Employee Share Purchase Plan (“ESPP”) which allowed all employees of the Company and its subsidiaries to purchase up to 1,000, but no less than 100 shares of Sirius Group in connection with the transaction with Easterly. The purchase price of each common share purchased by a participant is equal to 85% of market value for the first 100 shares and 100% of market value for any additional shares purchased. Participants can either purchase the shares in cash or be issued a full-recourse promissory note by the Company, secured by the shares, payable via payroll deductions. A maximum of 1,000,000 shares have been made available for purchase under the Plan. As of December 31, 2018, 149,236 shares have been purchased under the Plan and net promissory notes total $0.9 million. 2016 Long Term Incentive Plan Sirius Group has historically awarded long-term incentive compensation in the form of three-year, cliff-vested, performance units or phantom performance shares that can be paid in cash, or upon Sirius Group becoming public, Sirius Group common shares, at the discretion of the Compensation Committee. A new long-term incentive award is granted each year so that there are three different performance cycles outstanding at any given time. The Company’s 2016 Long Term Incentive Plan (the “LTIP”), amended and restated in August 2018, provides for the issuance of Performance Units or Performance Share awards to an eligible employee. Only performance shares were awarded for the three outstanding cycles. Performance shares compound through the end of the three-year award period based on the weighted average underwriting return on capital (“UROC”), return on equity (“ROE”) produced by the Company and other performance metrics during the period. The performance goals are determined by the Compensation Committee of the Board of Directors upon granting of awards. For the years ended December 31, 2018, 2017, and 2016, under the SPA, White Mountains paid Sirius Group for certain incentive awards that the Company paid to its employees, with $1.4 million, $2.5 million, and $5.4 million, respectively, recorded as Additional paid-in surplus. As of December 31, 2018, the total number of shares reserved for issuance under the LTIP are 5,614,904. Sirius Group has recorded compensation expense of $1.0 million, $3.9 million, and $16.6 million for the years ended December 31, 2018, 2017, and 2016, respectively. IPO Incentive Awards In connection with the Company’s 2018 Omnibus Incentive Plan, the Company granted incentive compensation awards (“IPO Incentive Awards”) on August 6, 2018 which provides for certain employees to purchase fully-vested common shares and be issued performance share units. Participants can purchase shares on or before December 31, 2018 at a pre-determined strike price or choose to purchase the total shares over three years at pre-determined strike prices. While the shares are fully vested upon purchase, participants are required to hold the shares for three years. As of December 31, 2018, 203,589 shares were purchased up front and 552,594 shares were pledged to be purchased over three years under the 2018 Omnibus Incentive Plan. Share-based compensation expense of $0.6 million was recognized during the year ended December 31, 2018 related to these purchases. Under the 2018 Omnibus Incentive Plan, participants are awarded Performance Share Units one-for-one against any shares purchased through the 2018 Omnibus Incentive Plan, the Sirius Group Private Placement, or the ESPP up to their award amount. Performance Share Units vest over three years, 25% based on ROE performance during each of the 2019, 2020, and 2021 fiscal years and 25% based on the average ROE performance during the 2019 through 2021 period subject to participants purchasing and holding 1/3 of pledged shares in 2019, 2/3 in 2020, and 100% in 2021. Payouts begin at 0% of awarded shares for a 4.5% ROE, 100% at a 9.0% ROE and 150% at a 13.5% ROE with linear interpolation in between. The employee must remain employed through the end of the applicable performance period to vest in the shares earned in that performance period. The total pool of shares granted, at target level of performance, is $13.0 million which is based on the acceptance of the employees, in addition to the final per share value of a common share of Sirius Group exchanged for Easterly common stock at the closing of the Merger. Sirius Group recorded compensation expense for the year ended December 31, 2018 of $1.5 million related to the Performance Share Units. On February 27, 2019, Sirius Group terminated the obligation that requires participants to purchase shares through the 2018 Omnibus Incentive Plan. Non-Employee Compensation Certain non-employee independent directors received share-based compensation in the form of common shares which vest after one year of issuance. During 2018, Sirius Group granted non-employee directors 24,475 shares and recognized share-based compensation expense of $0.4 million. Transaction and Retention Bonuses Under the SPA, bonus arrangements for certain employees of Sirius Group were granted. Certain of these bonus arrangements were paid to bonus recipients as compensation for services performed before the sale date (“transaction bonuses”). In addition, certain employees received additional bonus payments under the bonus arrangements after the 12th month and 20th month anniversary of the sale date (“retention bonuses”). Under the SPA, White Mountains agreed to pay the Company an amount equal to the transaction bonuses plus the employer-paid portion of employment or similar taxes less tax benefits attributable to the payment. In addition, White Mountains also agreed to pay the Company for the retention bonuses under the same terms as the transaction bonuses shortly after Sirius Group paid those amounts to the employees. During 2016, Sirius Group recorded $36.9 million in General and administrative expenses in connection with the transaction bonuses. The Company was paid $25.3 million and $30.5 million in 2017, and 2016, respectively, from its former parent for the transaction and retention bonuses after employment costs and taxes, which was recorded as Additional paid-in surplus. During 2018, the Company was not paid any amount from its former parent for the transaction and retention bonuses. During 2017 and 2016, Sirius Group recorded $13.3 million and $17.6 million, respectively, in General and administrative expenses in connection with the retention bonuses. During 2018, Sirius Group did not record any General and administrative expenses in connection with the retention bonuses.

Common shareholder equity's, me

Common shareholder equity's, mezzanine equity, and non-controlling interests	12 Months Ended
	Dec. 31, 2018
Common shareholder's equity, mezzanine equity, and non-controlling interests
Common shareholder's equity, mezzanine equity, and non-controlling interests	Note 15. Common shareholders’ equity, mezzanine equity, and non-controlling interests Common shareholder’s equity The authorized share capital of the Company consists of 500,000,000 Common shares, $0.01 par value per share, and 15,000,000 Series B preference shares, $0.01 par value per share. The following table presents changes in the Company’s issued and outstanding Common shares for the years ended December 31, 2018, 2017, and 2016, respectively: 2018 2017 2016 Common shares: Shares issued and outstanding, beginning of year 120,000,000 120,000,000 12,000 Issuance of shares (See Note 3 ) 4,670,531 — — Shares redeemed (See Note 3 ) (9,519,280) — — Stock split (1) — — 119,988,000 Shares issued and outstanding, end of year 115,151,251 120,000,000 120,000,000 (1) On April 27, 2016, the Company split its common shares by a multiple of 10,000 resulting in 120,000,000 common shares issued and outstanding and changed the par value of the common shares from $1.00 per share to $0.01 per share. Redeemed shares On November 5, 2018, the Company repurchased 9,519,280 common shares from CM Bermuda in connection with the Merger (“redeemed shares”) for $164.0 million. (See Note 3.) The redeemed shares were canceled and the cost of the redeemed shares are included as a reduction to Additional paid-in surplus. Dividends The Company did not pay any dividends during the years ended December 31, 2018 and 2017, respectively. The Company paid common dividends of $27.0 million in cash and investments during the year ended December 31, 2016. Mezzanine equity Series B Preference Shares On November 5, 2018, in connection with the closing of the Merger, Sirius Group issued 11,901,670 of the 15,000,000 authorized Series B preference shares, with a par value of $0.01 per share, as part of the Sirius Group Private Placement. (See Note 3.) The Series B preference shares rank senior to common shares with respect to dividend rights, rights of liquidation, winding-up, or dissolution of the Company and junior to all of the Company’s existing and future policyholder obligations and debt obligations. Without the consent of the holders of the Series B preference shares, the Company may not issue any class or series of shares that rank senior or pari passu with the Series B preference shares as to the payment of dividends or as to distribution of assets upon any voluntary or involuntary liquidation, winding-up or dissolution of the Company, if the aggregate gross proceeds from the issuance of all such senior or pari passu shares equals or exceeds $100 million. The Company adjusts the carrying value of the Series B preference shares to equal the redemption value at the end of each reporting period. At December 31, 2018, the balance of the Series B preference shares was $232.2 million. Series A Redeemable Preference Shares In connection with the acquisition of IMG, the Company issued mandatorily convertible stock in the form of Series A redeemable preference shares as a portion of the consideration paid. (See Note 3.) The Company issued 100,000 of the 150,000 authorized Series A redeemable preference shares to the seller of IMG. Each Series A redeemable preference share has a liquidation preference per share of $1,000. On November 5, 2018, in connection with the closing of the Merger, the Company redeemed the 100,000 outstanding shares of Series A redeemable preference shares for $95.0 million. (See Note 3.) Sirius Group recorded a $13.8 million gain on the redemption of the Series A redeemable preference shares. At December 31, 2017, the balance of the Series A redeemable preference shares with accrued dividends was $106.1 million. Non-controlling interests Non-controlling interests consist of the ownership interests of non-controlling shareholders in consolidated entities and are presented separately on the balance sheet. At December 31, 2018 and 2017, Sirius Group’s balance sheet included $1.7 million and $0.2 million, respectively, in non-controlling interests. The following table shows the change in non-controlling interest for the years ended December 31, 2018, 2017, and 2016: (Millions) Total Non-controlling interests as of December 31, 2015 $ 250.1 Net income attributable to non-controlling interests 19.3 Dividends to non-controlling interests (18.8) Other, net 0.7 Non-controlling interests as of December 31, 2016 $ 251.3 Net income attributable to non-controlling interests 13.7 Dividends to non-controlling interests (14.1) Other, net (250.7) Non-controlling interests as of December 31, 2017 $ 0.2 Net income attributable to non-controlling interests 1.4 Dividends to non-controlling interests — Other, net 0.1 Non-controlling interests as of December 31, 2018 $ 1.7 SIG Preference Shares On October 25, 2017, the Company’s indirect wholly-owned subsidiary, Sirius International Group, Ltd., redeemed all of its outstanding 250,000 Fixed/Floating Perpetual Non-Cumulative Preference Shares (“SIG Preference Shares”). The redemption price equaled the $1,000 liquidation preference per preference share. Sirius Group accounted for the SIG Preference Shares as a conditionally redeemable instrument within Non-controlling interests. Alstead Re As of December 31, 2018 and 2017, Sirius Group recorded non-controlling interest of $1.7 million and $0.2 million, respectively, in Alstead Re Insurance Company (“Alstead Re”). (See Note 20 .)

Earnings per share

Earnings per share	12 Months Ended
	Dec. 31, 2018
Earnings per share
Earnings per share	Note 16. Earnings per share Basic earnings (loss) per share is computed by dividing net income (loss) available to Sirius Group common shareholders by the weighted-average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income available to Sirius Group common shareholders by the weighted-average number of common shares outstanding adjusted to give effect to potentially dilutive securities. The Series A redeemable preference shares qualify as participating securities which requires the application of the two-class method to compute both basic and diluted earnings per share. The two-class method is an earnings allocation formula that treats participating securities as having rights to earnings that would otherwise have been available to common shareholders. The Series A redeemable preference shares have no obligation to absorb losses of the Company in periods of net loss. The following table sets forth the computation of basic and diluted earnings per common share for the years ended December 31, 2018, 2017, and 2016: (Millions, except share and per share information) 2018 2017 2016 Numerator: Net (loss) income $ (16.7) $ (136.3) $ 51.8 Less: Income attributable to non-controlling interests (1.4) (13.7) (19.3) Less: Accrued dividends on Series A redeemable preference shares (2.6) (6.1) — Less: Change in carrying value of Series B preference shares (36.4) — — Add: Redemption of Series A redeemable preference shares 13.8 — — Net (loss) income attributable to Sirius Group common shareholders $ (43.3) $ (156.1) $ 32.5 Denominator: Weighted average shares outstanding for basic and diluted earnings per share (1)(2) 119,253,924 120,000,000 120,000,000 Earnings (loss) per share Basic earnings per share $ (0.36) $ (1.30) $ 0.27 Diluted earnings per share $ (0.36) $ (1.30) $ 0.27 (1) On April 27, 2016, the Company split its common shares by a multiple of 10,000 resulting in 120,000,000 common shares. The stock split has been applied retroactively to January 1,2016. (2) Due to the net loss incurred during the year ended December 31, 2018, all potentially dilutive securities have been excluded from Diluted earnings per share as they would be anti-dilutive. As of December 31, 2018, there were a total of 23,433,114 potentially dilutive securities excluded from the calculation of Diluted earnings per share. As of both December 31, 2017 and 2016, there were no potentially dilutive securities.

Accumulated other comprehensive

Accumulated other comprehensive (loss)	12 Months Ended
	Dec. 31, 2018
Accumulated other comprehensive (loss)
Accumulated other comprehensive (loss)	Note 17. Accumulated other comprehensive (loss) The changes in accumulated other comprehensive (loss), by component, for the years ended December 31, 2018, 2017, and 2016 are as follows: For the year ended December 31, 2018 Foreign currency translation (Millions) adjustment Other, net Total Balance, beginning of year $ (140.5) $ — $ (140.5) Other comprehensive (loss) (61.9) — (61.9) Balance, end of year $ (202.4) $ — $ (202.4) For the year ended December 31, 2017 Foreign currency translation (Millions) adjustment Other, net Total Balance, beginning of year $ (212.2) $ — $ (212.2) Other comprehensive (loss) 71.7 — 71.7 Balance, end of year $ (140.5) $ — $ (140.5) For the year ended December 31, 2016 Foreign currency translation (Millions) adjustment Other, net (1) Total Balance, beginning of year $ (144.9) $ (1.2) $ (146.1) Other comprehensive (loss) (67.3) 1.2 (66.1) Balance, end of year $ (212.2) $ — $ (212.2) (1) Other, net consists of accumulated other comprehensive income related to balances arising from Sirius Group’s share in OneBeacon’s Pension Liability (See Note 19 ) and from amortization of hedge related to the 2007 SIG Senior Notes.

Statutory capital and surplus

Statutory capital and surplus	12 Months Ended
	Dec. 31, 2018
Statutory capital and surplus
Statutory capital and surplus	Note 18. Statutory capital and surplus Sirius Group’s insurance and reinsurance operations are subject to regulation and supervision in each of the jurisdictions where they are domiciled and licensed to conduct business. Generally, regulatory authorities have broad supervisory and administrative powers over such matters as licenses, standards of solvency, premium rates, policy forms, investments, security deposits, methods of accounting, form and content of financial statements, reserves for unpaid loss and LAE, reinsurance, minimum capital and surplus requirements, dividends and other distributions to shareholders, periodic examinations, and annual and other report filings. In general, such regulation is for the protection of policyholders rather than shareholders. Non-U.S. The Insurance Act 1978 of Bermuda and related regulations, as amended (“Insurance Act”), regulates the insurance business of Bermuda-domiciled insurers and reinsurers. The Insurance Act imposes solvency and liquidity standards on Bermuda insurance companies, as well as auditing and reporting requirements. The Bermuda Monetary Authority (“BMA”), a Solvency II-equivalent regulatory regime, has confirmed that it will act as the primary group supervisor effective July 1, 2016 and has designated Sirius Bermuda as the designated insurer. Therefore, Sirius Group is subject to the BMA’s group supervision and solvency rules. Under the Insurance Act, insurers and reinsurers are required to maintain minimum statutory capital and surplus at a level equal to the greater of a minimum solvency margin (“MSM”) and the Enhanced Capital Requirement (“ECR”) which is established by reference to either a Bermuda Solvency Capital Requirement (“BSCR”) model or an approved internal capital model. The BSCR model is a risk-based capital model that provides a method for determining an insurer’s minimum required capital taking into account the risk characteristics of different aspects of the company’s business. As of December 31, 2018, the eligible capital for Sirius Group exceeded the required capital as measured by the BSCR model. Management has also evaluated the group and principal operating subsidiaries’ ability to maintain adequate levels of statutory capital, liquidity, and rating agency capital and believes they will be able to do so. In performing this analysis, management has considered the most recent statutory capital position of each of the principal operating subsidiaries as well as the group overall, through its holding companies as a result of BMA group regulation. In addition, management has evaluated the ability of the holding companies to allocate capital and liquidity around the group as and when needed. Sirius Group has two Bermuda based insurance subsidiaries: Sirius Bermuda, a Class 4 insurer, and Alstead Re, a Class 3A insurer. Each of these Bermuda insurance subsidiaries are registered under the Insurance Act and are subject to regulation and supervision of the BMA. The BSCR for Sirius Bermuda and Alstead Re as at December 31, 2018 has not been determined as of the filing of this Annual Report on Form 10-K. The BSCR for Sirius Bermuda and Alstead Re as at December 31, 2017 was $902 million and $3 million, respectively. Actual statutory capital and surplus of the Bermuda based insurance subsidiaries as at December 31, 2018 was $2.2 billion. In addition, the Bermuda based insurance subsidiaries are required to maintain a minimum liquidity ratio. As of December 31, 2018, all liquidity ratio requirements were met. Sirius International is subject to regulation and supervision by the Swedish Financial Supervisory Authority (“SFSA”). Sirius International’s total regulatory capital as of December 31, 2018 was $1.7 billion. In accordance with SFSA regulations, Sirius International holds restricted equity of $1.3 billion as a component of Swedish regulatory capital. This restricted equity cannot be paid as dividends. Under Solvency II, the SFSA also acts as the European Economic Area group supervisor, with Sirius International UK Holding Ltd. (“SIUK”) serving as the highest European entity subject to the SFSA’s group supervision. Solvency II regulation in Europe gives the SFSA the option to waive European-level group supervision if certain legal requirements are met. As of December 31, 2018, the SFSA has not exercised this option. The financial services industry in the United Kingdom is dual-regulated by the Financial Conduct Authority and the Prudential Regulation Authority (collectively, the “U.K. Regulators”). The U.K. Regulators regulate insurers, insurance intermediaries and Lloyd’s. The U.K. Regulators and Lloyd’s have common objectives in ensuring that the Lloyd’s market is appropriately regulated. Lloyd’s is required to implement certain rules prescribed by the U.K. Regulators by the powers it has under the Lloyd’s Act of 1982 relating to the operation of the Lloyd’s market. In addition, each year the U.K. Regulators require Lloyd’s to satisfy an annual solvency test that measures whether Lloyd’s has sufficient assets in the aggregate to meet all the outstanding liabilities of its members. Lloyd’s permits its corporate and individual members (“Members”) to underwrite insurance risks through Lloyd’s syndicates. Members of Lloyd’s may participate in a syndicate for one or more underwriting years by providing capital to support the syndicate’s underwriting. All syndicates are managed by Lloyd’s approved managing agents. Managing agents receive fees and profit commissions in respect of the underwriting and administrative services they provide to the syndicates. Lloyd’s prescribes, in respect of its managing agents and Members, certain minimum standards relating to their management and control, solvency and various other requirements. Sirius Group participates in the Lloyd’s market through the 100% ownership of Sirius International Corporate Member Ltd., a Lloyd’s corporate member, which in turn provides underwriting capacity to Syndicate 1945. Sirius Group has its own Lloyd’s managing agent, Sirius International Managing Agency, which manages Syndicate 1945. Lloyd’s approved net capacity for 2019 is £80.8 million, or approximately $103.0 million (based on the December 31, 2018 GBP to USD exchange rate). Stamp capacity is a measure of the amount of net premium (premiums written less acquisition costs) that a syndicate is authorized by Lloyd’s to write. U.S. Sirius America and the insurance subsidiaries of Sirius Global Solutions are subject to regulation and supervision by the National Association of Insurance Commissioners (“NAIC”) and the department of insurance in the state of domicile. The NAIC uses risk-based capital (“RBC”) standards for U.S. property and casualty insurers as a means of monitoring certain aspects affecting the overall financial condition of insurance companies. As of December 31, 2018, the available capital of Sirius Group’s U.S. insurance and reinsurance operating subsidiaries exceeded their respective RBC requirements. Sirius America’s policyholders’ surplus, as reported to regulatory authorities as of December 31, 2018 and 2017, was $522.2 million and $521.8 million. Sirius America’s statutory net (loss) income for the years ended December 31, 2018, 2017, and 2016 was $(9.9) million, $(6.4) million, and $82.7 million, respectively. The principal differences between Sirius America’s statutory amounts and the amounts reported in accordance with GAAP include deferred acquisition costs, deferred taxes, gains recognized under retroactive reinsurance contracts, and market value adjustments for debt securities. The minimum policyholders’ surplus necessary to satisfy Sirius America’s regulatory requirements was $93.4 million as of December 31, 2018, which equals the authorized control level of the NAIC risk-based capital based on Sirius America’s policyholders’ surplus. Oakwood Insurance Company (“Oakwood”) policyholders’ surplus, as reported to regulatory authorities as of December 31, 2018 and 2017 was $40.5 million and $41.4 million, respectively. Oakwood’s statutory net (loss) income for the years ended December 31, 2018, 2017, and 2016 was $(1.1) million, $0.5 million and $(12.0) million, respectively. The minimum policyholders’ surplus necessary to satisfy Oakwood’s regulatory requirements was $5.0 million as of December 31, 2018, which equals the authorized control level of the NAIC risk-based capital based on Oakwood’s policyholders’ surplus. During 2017, Mount Beacon was merged into Oakwood. Empire Insurance Company (“Empire”) policyholders’ surplus, as reported to regulatory authorities as of December 31, 2018 and 2017 was $10.7 million and $10.5 million, respectively. Empire’s statutory net income (loss) for the years ended December 31, 2018, 2017, and 2016 was $0.1 million, $(0.3) million and $0.0 million, respectively. The minimum policyholders’ surplus necessary to satisfy Empire’s regulatory requirements was $8.8 million as of December 31, 2018, and the NAIC risk-based capital authorized control level was $1.0 million. WRM America policyholders' surplus, as reported to regulatory authorities as of December 31, 2018 was $13.9 million. WRM America’s statutory net (loss) for the year ended December 31, 2018 was $(0.6) million. The minimum policyholders' surplus necessary to satisfy WRM America’s regulatory requirements was $9.8 million as of December 31, 2018, and the NAIC risk-based capital authorized control level was $0.1 million. Dividend Capacity Sirius Group's top tier regulated insurance and reinsurance operating subsidiary is Sirius Bermuda. Sirius Bermuda’s ability to pay dividends is limited under Bermuda law and regulations. Under the Insurance Act, Sirius Bermuda is restricted with respect to the payment of dividends. Sirius Bermuda is prohibited from declaring or paying in any financial year dividends of more than 25% of its total statutory capital and surplus (as shown on its previous financial year’s statutory balance sheet) unless it files, at least seven days before payment of such dividends, with the BMA an affidavit stating that it will continue to meet the required margins following the declaration of those dividends. Accordingly, Sirius Bermuda can pay approximately $539.3 million to its parent company, Sirius International Group, Ltd., during 2019 without providing an affidavit to the BMA. Sirius Bermuda indirectly owns Sirius International Insurance Corporation, Sirius America Insurance Company and Sirius Group's other insurance and reinsurance operating companies, each of which are limited in their ability to pay dividends by the insurance laws of their relevant jurisdictions. Sirius International has the ability to pay dividends up to Sirius Bermuda subject to the availability of unrestricted equity, calculated in accordance with the Swedish Act on Annual Accounts in Insurance Companies and the FSA. Unrestricted equity is calculated on a consolidated group account basis and on a parent account basis. Differences between the two include but are not limited to accounting for goodwill, subsidiaries (with parent accounts stated at original foreign exchange rates), taxes and pensions. Sirius International’s ability to pay dividends is limited to the “lower of” unrestricted equity as calculated within the group and parent accounts. As of December 31, 2018, Sirius International had $373.4 million (based on the December 31, 2018 SEK to USD exchange rate) of unrestricted equity on a parent account basis (the lower of the two approaches) available to pay dividends in 2019. The amount of dividends available to be paid by Sirius International in any given year is also subject to cash flow and earnings generated by Sirius International’s business, the maintenance of adequate solvency capital ratios for Sirius International and the consolidated SIUK group, as well as to dividends received from its subsidiaries, including Sirius America. Earnings generated by Sirius International’s business that are allocated to the Safety Reserve are not available to pay dividends (see “ Safety Reserve ” below). During 2018, Sirius International did not declare a dividend and paid $20.3 million of dividends declared in 2017. Under the normal course of business, Sirius America has the ability to pay dividends to its immediate parent during any twelve-month period without the prior approval of regulatory authorities in an amount set by a formula based on the lesser of net investment income, as defined by statute, or 10% of statutory surplus, in both cases as most recently reported to regulatory authorities, subject to the availability of earned surplus and subject to dividends paid in prior periods. Based on this formula, Sirius America does not have any dividend capacity as of December 31, 2018, without prior regulatory approval. As of December 31, 2018, Sirius America had $522.2 million of statutory surplus and $108.4 million of earned surplus. During 2018, Sirius America did not pay any dividends to its immediate parent. During 2018 and 2017, the Company did not pay any dividends to its shareholders. The Company paid $27.0 million in dividends to its former parent on April 18, 2016. As of December 31, 2018, Sirius Group had $52.1 million of net unrestricted cash, short-term investments, and fixed maturity investments outside of its regulated and unregulated insurance and reinsurance operating subsidiaries. Capital Maintenance There is a capital maintenance agreement between Sirius International and Sirius America, which obligates Sirius International to make contributions to Sirius America’s surplus in order for Sirius America to maintain surplus equal to at least 125% of the company action level risk-based capital as defined in the National Association of Insurance Commissioners’ Property/Casualty Risk-Based Capital Report. The agreement provides for a maximum contribution to Sirius America of $200 million. During 2018, Sirius International did not make any contributions to the surplus of Sirius America. In 2017, Sirius International provided Sirius America with an accident year stop-loss cover, with an attachment point in excess of 83% and a limit of $27 million. This accident year stop-loss reinsurance was not renewed in 2018. In addition, at November 1, 2016, Sirius America and Sirius International entered into a quota share agreement whereby Sirius America ceded Sirius International 75% of its reinsurance business on an accident year basis. This quota share agreement was in force through March 31, 2018. For the year ended December 31, 2018 and 2017, Sirius America ceded $9 million and $115 million, respectively, of premiums earned to Sirius International under this quota share agreement. In the third quarter of 2018, Sirius America entered into a commutation agreement with Sirius International and commuted all outstanding balances related to the accident year stop-loss and the 75% quota share. Safety Reserve Subject to certain limitations under Swedish law, Sirius International is permitted to transfer pre-tax income amounts into an untaxed reserve referred to as a Safety Reserve. As of December 31, 2018, Sirius International’s Safety Reserve amounted to SEK 10.7 billion, or $1.2 billion (based on the December 31, 2018 SEK to USD exchange rate). Under GAAP, an amount equal to the Safety Reserve, net of a related deferred tax liability established at the Swedish tax rate of 22%, is classified as shareholder’s equity. Generally, this deferred tax liability is only required to be paid by Sirius International if it fails to maintain prescribed levels of premium writings and loss reserves in future years. As a result of the indefinite deferral of these taxes, Swedish regulatory authorities apply no taxes to the Safety Reserve when calculating solvency capital under Swedish insurance regulations. Accordingly, under local statutory requirements, an amount equal to the deferred tax liability on Sirius International’s Safety Reserve ($261.1 million as of December 31, 2018) is included in solvency capital. Access to the Safety Reserve is restricted to coverage of insurance and reinsurance losses. Access for any other purpose requires the approval of Swedish regulatory authorities. Similar to the approach taken by Swedish regulatory authorities, most major rating agencies generally include the $1.2 billion balance of the Safety Reserve, without any provision for deferred taxes, in Sirius International’s regulatory capital when assessing Sirius International and Sirius Group’s financial strength. Subject to certain limitations under Swedish law, Sirius International is permitted to transfer certain portions of its pre-tax income to its Swedish parent companies to minimize taxes (referred to as a group contribution). During 2018, Sirius International did not transfer any of its 2017 pre-tax income via group contributions to its Swedish parent companies.

Investments in unconsolidated e

Investments in unconsolidated entities	12 Months Ended
	Dec. 31, 2018
Investments in unconsolidated entities
Investments in unconsolidated entities	Note 19. Investments in unconsolidated entities Sirius Group’s investments in unconsolidated entities are included within Other long-term investments and consist of investments in common equity securities or similar instruments, which give Sirius Group the ability to exert significant influence over the investee’s operating and financial policies (“equity method eligible unconsolidated entities”). Such investments may be accounted for under either the equity method or, alternatively, Sirius Group may elect to account for them under the fair value option. The following table presents the components of Other long-term investments as of December 31, 2018 and 2017: (Millions) 2018 2017 Equity method eligible unconsolidated entities, at fair value $ 169.4 $ 121.2 Other unconsolidated investments, at fair value (1) 195.6 148.3 Total Other long-term investments (2) $ 365.0 $ 269.5 (1) Includes Other long-term investments that are not equity method eligible. (2) There were no investments accounted for using the equity method as of December 31, 2018 and 2017. Equity method eligible unconsolidated entities, at fair value Sirius Group has elected the Fair Value Option to account for its equity method eligible investments accounted for as part of Other long-term investments for consistency of presentation with rest of its investment portfolio. The following table presents Sirius Group’s investments in equity method eligible unconsolidated entities as of December 31, 2018 and 2017 with ownership interest greater than 20%: Ownership interest at December 31, Investee 2018 2017 Instrument Held BE Reinsurance Limited 25.0 % 25.0 % Common shares BioVentures Investors (Offshore) IV LP 73.0 % 73.0 % Units Camden Partners Strategic Fund V (Cayman), LP 36.4 % 36.5 % Units NEC Cypress Buyer LLC (1) 13.3 % 23.5 % Units New Energy Capital Infrastructure Credit Fund LP 22.9 % 23.3 % Units New Energy Capital Infrastructure Offshore Credit Fund LP 54.9 % 56.2 % Units Scion G7, LP 28.8 % N/A Units Tuckerman Capital V LP 47.6 % 48.3 % Units Tuckerman Capital V Co-Investment I LP 47.7 % 49.5 % Units (1) The ownership percentage of NEC Cypress Buyer LLC was greater than 20% at December 31, 2017 but was less than 20% at December 31, 2018 and is included in the table for comparative purposes. The following tables present aggregated summarized financial information for Sirius Group’s investments in equity method eligible unconsolidated entities: As of December 31, (Millions) 2018 2017 Balance sheet data: Total assets $ 503.5 $ 336.7 Total liabilities $ 71.6 $ 31.2 For the years ended December 31, (Millions) 2018 2017 2016 Income statement data: Revenues $ 42.8 $ 38.1 $ 21.6 Expenses $ (14.9) $ (12.2) $ (14.1) Equity method eligible affiliates, accounted for using the equity method OneBeacon On April 18, 2016, Sirius Group sold its investment in OneBeacon at fair value to its former parent for proceeds of $178.3 million in connection with the sale of Sirius Group to CMIG International and recorded $22.1 million of additional paid-in surplus for the excess of fair value over the equity method carrying value of OneBeacon. (See Note 3 .) The following table summarizes amounts recorded by Sirius Group under the equity method relating to its investment in OneBeacon for the period January 1, 2016 until April 18, 2016: (Millions) Total Equity method carrying value of investment in OneBeacon as of December 31, 2015 $ 151.9 Equity in earnings of OneBeacon 6.6 Dividends received (3.0) Other, net 0.7 Proceeds received for the sale of OneBeacon (178.3) Excess of fair value received over equity method carrying value of OneBeacon 22.1 Equity method carrying value of investment in OneBeacon as of April 18, 2016 $ — The following table presents financial information for OneBeacon as of March 31, 2016: March 31, (Millions) 2016 OneBeacon balance sheet data: Total investments $ 2,562.1 Total assets 3,529.0 Unpaid loss and loss adjustment expense reserves 1,343.8 Long-term debt 272.9 Total liabilities 2,509.2 Total non-controlling interests 3.2 Common shareholders' equity 1,016.6 The following table presents financial information for OneBeacon for the three months ended March 31, 2016: Three months ended (Millions) March 31, 2016 OneBeacon income statement data: Net premiums earned $ 278.6 Net investment income 14.4 Total revenues 310.5 Loss and loss adjustment expenses 158.8 Total expenses 272.3 Net income 46.4

Variable interest entities

Variable interest entities	12 Months Ended
	Dec. 31, 2018
Variable interest entities
Variable interest entities	Note 20. Variable interest entities Sirius Group consolidates the results of operations and financial position of every voting interest entity (“VOE”) in which it has a controlling financial interest and VIEs in which it is considered to be the primary beneficiary. The consolidation assessment, including the determination as to whether an entity qualifies as a VOE or VIE, depends on the facts and circumstances surrounding each entity. Sirius Group has determined that Alstead Re is a VIE for which Sirius Group is the primary beneficiary and is required to consolidate it. The following table presents Alstead Re’s assets and liabilities, as classified in the Consolidated Balance Sheets as at December 31, 2018 and 2017: (Millions) 2018 2017 Assets: Fixed maturity investments $ 4.0 $ — Short-term investments 0.3 — Cash 0.2 4.5 Total investments 4.5 4.5 Accrued investment income 0.1 — Insurance and reinsurance premiums receivable 3.7 4.1 Funds held by ceding companies 5.2 2.7 Deferred acquisition costs 0.9 1.3 Total assets $ 14.4 $ 12.6 Liabilities Loss and loss adjustment expense reserves $ 4.6 $ 3.5 Unearned insurance and reinsurance premiums 3.7 4.3 Total liabilities $ 8.3 $ 7.8 Sirius Group is a passive investor in certain third-party-managed hedge and private equity funds, some of which are VIEs. Sirius Group is not involved in the design or establishment of these VIEs, nor does it actively participate in the management of the VIEs. The exposure to loss from these investments is limited to the carrying value of the investments at the balance sheet date. Sirius Group calculates maximum exposure to loss to be (i) the amount invested in the debt or equity of the VIE, (ii) the notional amount of VIE assets or liabilities where Sirius Group has also provided credit protection to the VIE with the VIE as the referenced obligation, and (iii) other commitments and guarantees to the VIE. Sirius Group does not have any VIEs that it sponsors nor any VIEs where it has recourse to it or has provided a guarantee to the VIE interest holders. The following table presents total assets of unconsolidated VIEs in which Sirius Group holds a variable interest, as well as the maximum exposure to loss associated with these VIEs: Maximum Exposure to Loss Total VIE On-Balance Off-Balance (Millions) Assets Sheet Sheet Total December 31, 2018 Other long-term investments (1) $ 209.1 $ 103.1 $ 32.0 $ 135.1 Total at December 31, 2018 $ 209.1 $ 103.1 $ 32.0 $ 135.1 December 31, 2017 Other long-term investments (1) $ 1,378.1 $ 108.2 $ 57.4 $ 165.6 Total at December 31, 2017 $ 1,378.1 $ 108.2 $ 57.4 $ 165.6 (1) Comprised primarily of hedge funds and private equity funds.

Transactions with related parti

Transactions with related parties	12 Months Ended
	Dec. 31, 2018
Transactions with related parties
Transactions with related parties	Note 21. Transactions with related parties (Re)insurance contracts In the normal course of business, Sirius Group enters into insurance and reinsurance contracts with certain of its insurance and MGU affiliates, or their subsidiaries. During the year ended December 31, 2018 and 2017, these contracts with related parties resulted in gross written premiums of $67.9 million and $3.5 million, respectively. During the year ended December 31, 2016, Sirius Group did not have any contracts with related parties that resulted in any gross written premiums. As at December 31, 2018 and 2017, Sirius Group had total receivables due from related parties of $14.3 million and $10.4 million, respectively. At December 31, 2018, Sirius Group did not have any payables due to related parties. At December 31, 2017, Sirius Group had total payables due to related parties of $0.5 million. White Mountains Advisors White Mountains Advisors (“WMA”), an indirect wholly-owned subsidiary of Sirius Group’s former parent, provided investment advisory and management services to Sirius Group and its subsidiaries under an Investment Advisory Services Agreement. During 2016, Sirius Group terminated this agreement. Sirius Group incurred $3.1 million of investment fees during 2016. Other On August 16, 2016, the Company announced that Meyer “Sandy” Frucher was added as an independent director to its board of directors. Mr. Frucher is Vice Chairman of Nasdaq, Inc. The Company is traded on the Nasdaq Global Select Market and has business transactions that are related to its listing on the exchange under the normal course of business. (See Note 3 .)

Commitments and contingencies

Commitments and contingencies	12 Months Ended
	Dec. 31, 2018
Commitments and contingencies
Commitments and contingencies	Note 22. Commitments and contingencies Concentrations of credit risk Sirius Group underwrites a significant amount of its reinsurance business through reinsurance intermediaries that represent the ceding company. There is credit risk associated with payments of (re)insurance balances to Sirius Group in regards to these brokers’ ability to fulfill their contractual obligations. These intermediaries are fairly large and well established, and there are no indications they are financially distressed. During the years ended December 31, 2018, 2017, and 2016, Sirius Group received its gross reinsurance premiums written from three major, third-party reinsurance intermediaries as detailed in the following table: Gross written premium by intermediary 2018 2017 2016 AON Corporation and subsidiaries 26 % 22 % 22 % Guy Carpenter & Company and subsidiaries 18 % 18 % 18 % WT Butler and Co. Ltd. 10 % 10 % 8 % Total 54 % 50 % 48 % Geographic Concentration The following table shows Sirius Group’s net written premiums by geographic region based on the location of the ceding company for the years ended December 31, 2018, 2017, and 2016: (Millions) 2018 2017 2016 United States $ 794.7 $ 563.1 $ 463.0 Europe 276.5 262.3 258.9 Canada, the Caribbean, Bermuda and Latin America 103.6 111.4 88.3 Asia and Other 182.3 153.4 127.9 Total $ 1,357.1 $ 1,090.2 $ 938.1 Sirius Group conducts a significant portion of its business outside of the United States. As a result, a significant portion of Sirius Group’s assets, liabilities, revenues, and expenses are denominated in currencies other than the U.S. dollar and are therefore subject to foreign currency risk. Sirius Group’s foreign currency risk cannot be eliminated entirely and significant changes in foreign exchange rates may adversely affect Sirius Group’s results of operations and financial condition. Sirius Group’s foreign operations are subject to legal, political, and operational risks that may be greater than those present in the United States. As a result, certain of Sirius Group’s operations at these foreign locations could be temporarily or permanently disrupted. Lloyd’s Central Fund The Lloyd’s Central Fund is available to satisfy claims if a member of Lloyd’s is unable to meet its obligations to policyholders. Sirius Group has an obligation to pay contributions to the Lloyd’s Central Fund each year based on gross written premium. For 2019, Sirius Group estimates the Lloyd’s Central Fund contributions to be $0.6 million (based on the December 31, 2018 GBP to USD exchange rate) which is 0.35% of gross written premium. The Council of Lloyd’s have the power to levy an additional contribution on members if it considered necessary, and the maximum additional contribution is currently 3% of capacity. Leases Sirius Group leases certain office space under non-cancellable operating leases that expire on various dates. The future annual minimum rental payments required under non-cancellable leases for office space are as follows: Future (Millions) Payments 2019 $ 10.4 2020 9.2 2021 7.6 2022 6.8 2023 and after 6.1 Total $ 40.1 Total rental expense for the years ended December 31, 2018, 2017, and 2016 was $11.7 million, $10.2 million, and $6.2 million, respectively. Sirius Group also has various other lease obligations, which are not significant in the aggregate. Legal Proceedings Sirius Group, and the insurance and reinsurance industry in general, are routinely subject to claims related litigation and arbitration in the normal course of business, as well as litigation and arbitration that do not arise from, or are directly related to, claims activity. Sirius Group estimates of the costs of settling matters routinely encountered in claims activity are reflected in the reserves for unpaid loss and LAE. (See Note 5 .) Sirius Group considers the requirements of ASC 450, Contingencies (“ASC 450”), when evaluating its exposure to non-claims related litigation and arbitration. ASC 450 requires that accruals be established for litigation and arbitration if it is probable that a loss has been incurred and it can be reasonably estimated. ASC 450 also requires that litigation and arbitration be disclosed if it is probable that a loss has been incurred or it there is a reasonable possibility that a loss may have been incurred.

Unaudited condensed quarterly f

Unaudited condensed quarterly financial data	12 Months Ended
	Dec. 31, 2018
Unaudited condensed quarterly financial data
Unaudited condensed quarterly financial data	Note 23. Unaudited condensed quarterly financial data December 31, September 30, June 30, March 31, (Expressed in millions of U.S. dollars, except per share amounts) 2018 2018 2018 2018 Unaudited Unaudited Unaudited Unaudited Total revenues $ 336.8 $ 351.7 $ 441.8 $ 327.5 Total expenses $ 482.3 $ 386.3 $ 292.4 $ 273.1 Net (loss) income attributable to Sirius Group’s common shareholders $ (153.6) $ (28.0) $ 97.8 $ 40.5 Basic earnings per common share and common share equivalent $ (1.31) $ (0.23) $ 0.78 $ 0.32 Diluted earnings per common share and common share equivalent $ (1.31) $ (0.23) $ 0.78 $ 0.32 December 31, September 30, June 30, March 31, (Expressed in millions of U.S. dollars, except per share amounts) 2017 2017 2017 2017 Unaudited Unaudited Unaudited Unaudited Total revenues $ 362.6 $ 293.0 $ 252.6 $ 225.9 Total expenses $ 305.8 $ 478.1 $ 240.2 $ 219.9 Net (loss) income attributable to Sirius Group’s common shareholder $ 16.0 $ (179.0) $ (0.8) $ 7.7 Basic earnings per common share and common share equivalent $ 0.13 $ (1.49) $ (0.01) $ 0.06 Diluted earnings per common share and common share equivalent $ 0.13 $ (1.49) $ (0.01) $ 0.06

Schedule I - Summary of Investm

Schedule I - Summary of Investments - Other Than Investments in Related Parties	12 Months Ended
	Dec. 31, 2018
Schedule I - Summary of Investments - Other Than Investments in Related Parties
Summary of Investments - Other Than Investments in Related Parties	Sirius International Insurance Group, Ltd. Schedule I Summary of Investments—Other Than Investments in Related Parties As at December 31, 2018 Amount shown Cost or on the (Expressed in millions of U.S. dollars) amortized cost Fair value balance sheet Corporate debt securities $ 694.1 $ 695.8 $ 695.8 Asset-backed securities 496.3 494.5 494.5 Residential mortgage-backed securities 413.0 413.5 413.5 Commercial mortgage-backed securities 163.9 167.9 167.9 U.S. government and government agency 117.7 115.9 115.9 Non-U.S. government and government agency 50.6 50.3 50.3 Preferred stocks 14.5 8.5 8.5 U.S. States, municipalities and political subdivision 2.8 2.8 2.8 Total fixed maturities $ 1,952.9 $ 1,949.2 $ 1,949.2 Total short-term investments 716.1 715.5 715.5 Total equity securities 409.4 380.0 380.0 Total other long-term investments 337.6 365.0 365.0 Total $ 3,416.0 $ 3,409.7 $ 3,409.7

Schedule II - Condensed Financi

Schedule II - Condensed Financial Information of Registrant	12 Months Ended
	Dec. 31, 2018
Schedule II - Condensed Financial Information of Registrant
Schedule II - Condensed Financial Information of Registrant	Sirius International Insurance Group, Ltd. Schedule II Condensed Financial Information of Registrant Balance Sheets As at December 31, 2018 and 2017 (Expressed in millions of U.S. dollars, except share and per share information) 2018 2017 Assets Fixed maturity investments, at fair value $ 2.8 $ 3.9 Short-term investments, at fair value (Amortized cost 2018: $5.3; 2017: $30.8) 5.3 30.8 Total investments 8.1 34.7 Cash — 0.1 Investments in unconsolidated affiliates 1,911.2 2,030.4 Other assets 42.5 1.1 Total assets $ 1,961.8 $ 2,066.3 Liabilities Other liabilities $ 25.1 $ 43.2 Total liabilities 25.1 43.2 Commitments and Contingencies Mezzanine equity Series B preference shares 232.2 — Series A redeemable preference shares — 106.1 Total mezzanine equity 232.2 106.1 Common shareholders’ equity Common shares ( shares issued and outstanding: 2018: 115,151,251; 2017: 120,000,000 ) 1.2 1.2 Additional paid-in surplus 1,089.1 1,197.9 Retained earnings 816.6 858.4 Accumulated other comprehensive (loss) (202.4) (140.5) Total common shareholders' equity 1,704.5 1,917.0 Total liabilities, mezzanine equity, and common shareholders’ equity $ 1,961.8 $ 2,066.3 See Notes to Condensed Financial Information of Registrant Sirius International Insurance Group, Ltd. Schedule II Condensed Financial Information of Registrant Statements of (Loss) Income For the years ended December 31, 2018, 2017, and 2016 (Expressed in millions of U.S. dollars) 2018 2017 2016 Revenues Net investment income (losses) $ 0.5 $ 0.3 $ (0.2) Net realized investment gains — 0.2 0.3 Net unrealized investment gains (losses) — 12.8 (0.1) Net foreign exchange (losses) — (0.2) — Gain on revaluation of contingent consideration 6.1 13.6 — Other revenue 41.4 0.9 — Total revenues 48.0 27.6 — Expenses Other underwriting expenses — (0.2) — General and administrative expenses 13.6 13.0 36.6 Total expenses 13.6 12.8 36.6 Income (loss) before equity earnings of unconsolidated affiliates, net of tax 34.4 14.8 (36.6) Equity in earnings of unconsolidated affiliates, net of tax (52.5) (164.8) 69.1 Net (loss) income attributable to Sirius Group (18.1) (150.0) 32.5 Less: Accrued dividends on Series A redeemable preference shares (2.6) (6.1) — Less: Change in carrying value of Series B preference shares (36.4) — — Add: Redemption of Series A redeemable preference shares 13.8 — — Net (loss) income attributable to Sirius Group's common shareholders $ (43.3) $ (156.1) $ 32.5 See Notes to Condensed Financial Information of Registrant Sirius International Insurance Group, Ltd. Schedule II Condensed Financial Information of Registrant Statements of Comprehensive (Loss) Income For the years ended December 31, 2018, 2017, and 2016 (Expressed in millions of U.S. dollars) 2018 2017 2016 Comprehensive (loss) income Net (loss) income attributable to Sirius Group $ (18.1) $ (150.0) $ 32.5 Other comprehensive (loss) income Change in foreign currency translation, net of tax (61.9) 71.7 (67.3) Net change in other, net of tax — — 1.2 Comprehensive (loss) income attributable to Sirius Group $ (80.0) $ (78.3) $ (33.6) See Notes to Condensed Financial Information of Registrant Sirius International Insurance Group, Ltd. Schedule II Condensed Financial Information of Registrant Statements of Cash Flows For the years ended December 31, 2018, 2017, and 2016 (Expressed in millions of U.S. dollars) 2018 2017 2016 Cash flows from operations: Net (loss) income attributable to Sirius Group $ (18.1) $ (150.0) $ 32.5 Adjustments to reconcile net income to net cash provided from (used for) operations: Equity in earnings of subsidiaries 52.5 164.8 (69.1) Dividends received from subsidiaries 150.0 110.0 20.0 Net realized and unrealized investment (losses) — (13.0) (0.2) Amortization of premium on fixed maturity investments (0.3) (0.1) — Share-based compensation 2.0 — — Revaluation of contingent consideration (6.1) (13.6) — Other operating items: Net change in other assets and liabilities, net (57.5) 12.6 (6.8) Net cash provided from (used for) operations 122.5 110.7 (23.6) Cash flows from investing activities: Net change in short-term investments 25.6 2.5 (4.5) Sales of fixed maturities and convertible fixed maturity investments 65.9 1.1 16.3 Sales of common equity securities — 59.6 3.2 Purchases of common equity securities — (54.4) (8.0) Purchases of fixed maturities and convertible fixed maturity investments (64.9) — (6.3) Contributions to subsidiaries (143.5) (132.7) (42.1) Net cash (used for) provided from investing activities (116.9) (123.9) (41.4) Cash flows from financing activities: Capital contribution from former parent 1.4 13.3 89.6 Proceeds from issuance of common shares, net of expenses 61.2 — — Proceeds from issuance of Series B preference shares 195.8 — — Redemption of common shares from CM Bermuda (164.0) — — Return of capital to CM Bermuda (1.6) — — Redemption of Series A redeemable preference shares (95.0) — — Payment of contingent consideration (3.5) — — Cash dividends paid to former parent — — (27.0) Net cash (used for) provided from financing activities (5.7) 13.3 62.6 Net (decrease) increase in cash during year (0.1) 0.1 (2.4) Cash balance at beginning of year 0.1 — 2.4 Cash balance at end of year $ — $ 0.1 $ — See Notes to Condensed Financial Information of Registrant Notes to Condensed Financial Information of Registrant Sirius International Insurance Group, Ltd. (the Registrant) investments in consolidated subsidiaries are stated at cost plus equity in income of consolidated subsidiaries. The accompanying condensed financial statements of the Registrant should be read in conjunction with the Consolidated Financial Statements and Notes thereto of Sirius International Insurance Group, Ltd. included in the Annual Report on Form 10-K

Schedule III - Supplementary In

Schedule III - Supplementary Insurance Information	12 Months Ended
	Dec. 31, 2018
Schedule III - Insurance Information
Supplementary Insurance Information	Sirius International Insurance Group, Ltd. Schedule III Supplementary Insurance Information As at and for the years ended December 31, 2018, 2017, and 2016 (Millions) As at and for the year ended December 31, 2018 Loss and Insurance Loss Unearned Net Earned and Net Written Deferred Adjustment Insurance and Insurance and Loss and Loss Reinsurance Other Insurance and Acquisition Expense Reinsurance Reinsurance Adjustment Acquisition Underwriting Reinsurance Costs Reserves Premiums Premiums Expenses Expenses Expenses Premiums Global Property $ 44.1 $ 910.6 $ 252.0 $ 636.0 $ 528.7 $ 121.1 $ 68.2 $ 655.0 Global A&H 54.0 197.9 224.8 357.6 194.9 109.7 27.4 379.8 Specialty & Casualty 43.5 323.4 170.4 239.5 148.8 65.5 28.2 292.7 Runoff & Other — 584.8 — 29.2 14.6 2.8 6.3 29.6 Corporate Elimination — — — — 13.0 (43.7) 16.1 — Total $ 141.6 $ 2,016.7 $ 647.2 $ 1,262.3 $ 900.0 $ 255.4 $ 146.2 $ 1,357.1 (Millions) As at and for the year ended December 31, 2017 Loss and Insurance Loss Unearned Net Earned and Net Written Deferred Adjustment Insurance and Insurance and Loss and Loss Reinsurance Other Insurance and Acquisition Expense Reinsurance Reinsurance Adjustment Acquisition Underwriting Reinsurance Costs Reserves Premiums Premiums Expenses Expenses Expenses Premiums Global Property $ 43.5 $ 759.6 $ 195.7 $ 564.4 $ 512.4 $ 112.9 $ 63.3 $ 556.2 Global A&H 49.1 206.2 195.8 306.8 179.8 89.6 23.4 341.5 Specialty & Casualty 28.2 304.5 115.0 163.2 104.9 41.1 16.5 193.0 Runoff & Other 0.1 628.2 0.3 0.9 14.1 (3.5) 2.9 (0.5) Corporate Elimination — — — — — (42.9) — — Total $ 120.9 $ 1,898.5 $ 506.8 $ 1,035.3 $ 811.2 $ 197.2 $ 106.1 $ 1,090.2 (Millions) As at and for the year ended December 31, 2016 Loss and Loss Unearned Net Earned Insurance and Net Written Deferred Adjustment Insurance and Insurance and Loss and Loss Reinsurance Other Insurance and Acquisition Expense Reinsurance Reinsurance Adjustment Acquisition Underwriting Reinsurance Costs Reserves Premiums Premiums Expenses Expenses Expenses Premiums Global Property $ 43.5 $ 506.6 $ 171.3 $ 481.8 $ 268.5 $ 100.3 $ 65.1 $ 514.2 Global A&H 24.4 158.3 122.5 272.2 171.6 71.7 23.3 277.6 Specialty & Casualty 18.3 314.0 85.3 135.2 75.6 37.7 15.1 137.4 Runoff & Other (1.5) 641.2 18.9 0.9 3.6 0.6 3.8 8.9 Corporate Elimination — — — — — — — — Total $ 84.7 $ 1,620.1 $ 398.0 $ 890.1 $ 519.3 $ 210.3 $ 107.3 $ 938.1

Schedule IV - Reinsurance

Schedule IV - Reinsurance	12 Months Ended
	Dec. 31, 2018
Schedule IV - Reinsurance
Reinsurance	Sirius International Insurance Group, Ltd. Schedule IV Reinsurance For the years ended December 31, 2018, 2017, and 2016 Ceded to Percentage of other Assumed from amount assumed (Millions) Direct gross companies other companies Net amount to net Year ended December 31, 2018 $ 454.5 $ 463.9 $ 1,366.5 $ 1,357.1 101 % Year ended December 31, 2017 450.2 349.1 989.1 1,090.2 91 % Year ended December 31, 2016 368.5 330.9 900.5 938.1 96 %

Schedule V - Valuation and Qual

Schedule V - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2018
Schedule V - Valuation and Qualifying Accounts
Valuation and Qualifying Accounts	Sirius International Insurance Group, Ltd. Schedule V Valuation and Qualifying Accounts As at and for the years ended December 31, 2018, 2017, and 2016 Additions (Subtractions) Balance at Charged to Charged to Balance at beginning of costs and other Deductions the end (Millions) period expenses accounts described (1) of period Years ended: December 31, 2018 Reinsurance on recoverable paid losses: Allowance for reinsurance balances $ 5.8 — (0.1) — $ 5.7 Property and casualty insurance and reinsurance premiums receivable: Allowance for uncollectible accounts $ 4.6 — (0.2) (0.1) $ 4.3 December 31, 2017 Reinsurance on recoverable paid losses: Allowance for reinsurance balances $ 5.8 — — — $ 5.8 Property and casualty insurance and reinsurance premiums receivable: Allowance for uncollectible accounts $ 5.3 (0.5) (0.5) 0.3 $ 4.6 December 31, 2016 Reinsurance on recoverable paid losses: Allowance for reinsurance balances $ 5.4 — — 0.4 $ 5.8 Property and casualty insurance and reinsurance premiums receivable: Allowance for uncollectible accounts $ 4.0 1.1 — 0.2 $ 5.3 (1) Represents net collections (charge-offs) of receivable balances and foreign currency translation .

Schedule VI - Insurance Operati

Schedule VI - Insurance Operations	12 Months Ended
	Dec. 31, 2018
Schedule III - Insurance Information
Insurance Operations	Sirius International Insurance Group, Ltd. Schedule VI Insurance Operations As at and for the years ended December 31, 2018, 2017, and 2016 (Millions) Losses and Losses loss and expenses loss Loss and Unearned Net earned incurred expenses Insurance loss insurance insurance related incurred Net paid and Deferred adjustment and and Net to related losses reinsurance Net acquisition expense reinsurance reinsurance investment current to prior and loss acquisition premiums Affiliation with registrant costs reserves premiums premiums income year year expenses costs written Consolidated Subsidiaries 2018 $ 141.6 $ 2,016.7 $ 647.2 $ 1,262.3 $ 71.4 $ 907.3 $ (7.3) $ 791.7 $ 255.4 $ 1,357.1 2017 120.9 1,898.5 506.8 1,035.3 56.8 811.8 (0.6) 612.3 197.2 1,090.2 2016 84.7 1,620.1 398.0 890.1 56.2 583.0 (63.7) 548.3 210.3 938.1

Summary of significant accoun_2

Summary of significant accounting policies (Policies)	12 Months Ended
	Dec. 31, 2018
Summary of significant accounting policies
Basis of presentation	Basis of presentation The accompanying consolidated financial statements at December 31, 2018, have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) and the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). The accompanying consolidated financial statements present the consolidated results of operations, financial condition, and cash flows of the Company and its subsidiaries and those entities in which the Company has control and a majority economic interest as well as those variable interest entities (“VIEs”) that meet the requirements for consolidation. All intercompany transactions have been eliminated in consolidation. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Certain amounts in the prior period financial statements have been reclassified to conform to the current presentation. Tabular dollar amounts are in millions, with the exception of share and per share amounts. All amounts are reported in U.S. dollars, except where noted otherwise.
Investment securities	Investment securities Sirius Group’s invested assets consist of securities and other investments held for general investment purposes. Sirius Group’s portfolio of fixed maturity investments and equity securities held for general investment purposes are classified as trading and are reported at fair value as of the balance sheet date. Changes in unrealized gains and losses are reported pre-tax in revenues. Realized investment gains and losses are accounted for using the first-in first-out method and are reported pre-tax in revenues. Premiums and discounts on all fixed maturity investments are amortized and/or accreted to income over the anticipated life of the investment and are reported in Net investment income. Sirius Group’s invested assets that are measured at fair value include fixed maturity investments, common and preferred equity securities, and other long-term investments, such as interests in hedge funds and private equities. Fair value is defined as the price received to sell an asset in an orderly transaction between market participants at the measurement date reflecting the highest and best use valuation concepts. In determining its estimates of fair value, Sirius Group uses a variety of valuation approaches and inputs. Whenever possible, Sirius Group estimates fair value using valuation methods that maximize the use of quoted prices and other observable inputs.
Short-term investments	Short-term investments Short-term investments consist of money market funds, certificates of deposit and other securities which, at the time of purchase, mature or become available for use within one year. Short-term investments are carried at fair value.
Other long-term investments	Other long-term investments Other long-term investments consist primarily of hedge funds, private equity funds, other investments in limited partnerships and other private equity securities. The fair value of other long-term investments is generally based upon Sirius Group’s proportionate interest in the underlying fund’s net asset value, which is deemed to approximate fair value. In addition, due to a lag in reporting, some of the fund managers, fund administrators, or both, are unable to provide final fund valuations as of the Company’s reporting date. In these circumstances, Sirius Group estimates the return of the current period and uses all credible information available. This includes utilizing preliminary estimates reported by its fund managers and using information that is available to Sirius Group with respect to the underlying investments, as necessary. The changes in fair value are reported in pre-tax revenues in Net unrealized investment (losses). Actual final fund valuations may differ from Sirius Group’s estimates and these differences are recorded in the period they become known as a change in estimate. Other long-term investments also includes certain investments that are eligible for the equity method where Sirius Group has elected the fair value option under which the changes in fair value are reported in pre-tax revenues in Net unrealized investment (losses). (See Note 19 .)
Cash	Cash Cash includes amounts on hand and demand deposits with banks and other financial institutions. Amounts presented in the statement of cash flows are shown net of balances acquired and sold in the purchase or sale of the Company’s consolidated subsidiaries.
Restricted cash	Restricted cash Restricted cash represents cash and cash equivalents that Sirius Group is (a) holding for the benefit of a third party and is legally or contractually restricted as to withdrawal or usage for general corporate purposes; and (b) not replaceable by another type of asset other than cash or cash equivalents, under the terms of Sirius Group’s contractual arrangements with such third parties.
Insurance and reinsurance operations	Insurance and reinsurance operations Premiums written are recognized as revenues and are earned ratably over the term of the related policy or reinsurance treaty. Premiums written include amounts reported by brokers, managing general underwriters, and ceding companies, supplemented by the Company’s own estimates of premiums where reports have not been received. The determination of premium estimates requires a review of the Company’s experience with the ceding companies, managing general underwriters, familiarity with each market, the timing of the reported information, an analysis and understanding of the characteristics of each class of business, and management’s judgment of the impact of various factors, including premium or loss trends, on the volume of business written and ceded to the Company. On an ongoing basis, the Company’s underwriters review the amounts reported by these third parties for reasonableness based on their experience and knowledge of the subject class of business, taking into account the Company’s historical experience with the brokers or ceding companies. Unearned premiums represent the portion of premiums written that are applicable to future insurance or reinsurance coverage provided by policies or treaties in force. Deferred acquisition costs represent commissions, premium taxes, brokerage expenses, and other costs which are directly attributable to the successful acquisition or renewal of contracts and vary with the production of business. These costs are deferred and amortized over the period during which the premiums are earned. Amortization of Deferred acquisition costs are shown net of contractual commissions earned on reinsurance ceded within Insurance and reinsurance acquisition expenses. Deferred acquisition costs are limited to the amount expected to be recovered from future earned premiums and anticipated investment income. This limitation is referred to as a premium deficiency. A premium deficiency is recognized if the sum of expected loss and loss adjustment expenses (“LAE”), expected dividends to policyholders, unamortized acquisition costs, and maintenance costs exceeds related unearned premiums and anticipated investment income. A premium deficiency is recognized by charging any unamortized acquisition costs to expense to the extent required in order to eliminate the deficiency. If the premium deficiency exceeds unamortized acquisition costs, then a liability is accrued for the excess deficiency. Other underwriting expenses consist primarily of personnel related expenses (including salaries, benefits, and variable compensation expense) and other general operating expenses related to the underwriting operations. Losses and LAE are charged against income as incurred. Unpaid insurance loss and LAE reserves are based on estimates (generally determined by claims adjusters, legal counsel, and actuarial staff) of the ultimate costs of settling claims, including the effects of inflation and other societal and economic factors. Unpaid reinsurance loss and LAE reserves are based primarily on reports received from ceding companies and actuarial projections. Unpaid loss and LAE reserves represent management’s best estimate of ultimate losses and LAE, net of estimated salvage and subrogation recoveries, if applicable. Such estimates are regularly reviewed and updated and any resulting adjustments are reflected in current operations. The process of estimating loss and LAE reserves involves a considerable degree of judgment by management and the ultimate amount of expense to be incurred could be greater or less than the amounts currently reflected in the financial statements. Sirius Group enters into ceded reinsurance contracts to protect its businesses from losses due to concentration of risk, to manage its operating leverage ratios and to limit losses arising from catastrophic events. Such reinsurance contracts are executed through excess of loss treaties and catastrophe contracts under which the reinsurer indemnifies for a specified part or all of certain types of losses over stipulated amounts arising from any one occurrence or event. Sirius Group has also entered into quota share treaties with reinsurers under which all risks meeting prescribed criteria are covered on a pro-rata basis. The amount of each risk ceded by Sirius Group is subject to maximum limits which vary by line of business and type of coverage. Although these contracts protect Sirius Group, these reinsurance arrangements do not relieve Sirius Group from its primary obligations to insureds. Amounts recoverable from reinsurers are estimated in a manner consistent with the claim liability associated with the reinsured policies. The collectability of reinsurance recoverables is subject to the solvency of the reinsurers. Sirius Group is selective in regard to its reinsurers, principally placing reinsurance with those reinsurers with a strong financial condition, industry ratings, and underwriting ability. Management monitors the financial condition and ratings of its reinsurers on an ongoing basis. Reinsurance premiums, commissions, expense reimbursements, and reserves related to reinsured business are accounted for on a basis consistent with those used in accounting for the original policies issued and the terms of the reinsurance contracts. Reinsurance premiums ceded are expensed over the period the reinsurance coverage is provided. Ceded unearned insurance and reinsurance premiums represent the portion of premiums ceded applicable to the unexpired term of policies in force. Funds held by ceding companies represent amounts due to Sirius Group in connection with certain assumed reinsurance agreements in which the ceding company retains a portion of the premium to provide security against future loss payments. The funds held by ceding companies are generally invested by the ceding company and a contractually agreed interest amount is credited to Sirius Group and recognized as investment income. Funds held under reinsurance treaties represent contractual payments due from Sirius Group that have been retained to secure such obligations. Accruals for contingent commission liabilities are established for reinsurance contracts that provide for the stated commission percentage to increase or decrease based on the loss experience of the contract. Changes in the estimated liability for contingent commission arrangements are recorded as Insurance and reinsurance acquisition expenses. Accruals for contingent commission liabilities are determined through the review of the contracts that have these adjustable features and are estimated based on expected loss and LAE.
Derivative financial instruments	Derivative financial instruments Sirius Group holds derivative financial instruments for both risk management and investment purposes. Sirius Group recognizes all derivatives as either assets or liabilities, measured at fair value, in the Consolidated Balance Sheets. Changes in the fair value of derivative instruments are recognized in current period pre-tax income.
Deferred software costs	Deferred software costs Sirius Group capitalizes costs related to computer software developed for internal use during the application development stage of software development projects. These costs generally consist of certain external, payroll, and payroll-related costs. Sirius Group begins amortization of these costs once the project is completed and ready for its intended use. Amortization is on a straight-line basis and over a useful life of three to five years. As of December 31, 2018 and 2017, Sirius Group had unamortized deferred software costs of $9.3 million and $10.5 million, respectively. For the years ended December 31, 2018, 2017, and 2016, Sirius Group had amortization expenses of $4.8 million, $4.6 million, and $3.2 million, respectively, related to software developed for internal use.
Share-based compensation	Share-based compensation Share-based compensation plans are accounted for in accordance with the Accounting Standards Codification (“ASC”)Topic 718 “Compensation - Stock Compensation” Sirius Group recognizes the compensation expense for stock restricted share and performance share awards based on the fair value of the award on the date of grant over the requisite service period. Awards under both the 2016 Long Term Incentive Plan and 2018 Omnibus plan vest over three years. The Company has elected to recognize forfeitures as they occur rather than estimating service-based forfeitures over the requisite service period.
Defined benefit plans	Defined benefit plans Certain Sirius Group employees in Europe participate in defined benefit plans. The liability for the defined benefit plans that is reported on the Consolidated Balance Sheets is the current value of the defined benefit obligation at the end of the period, reduced by the fair value of the plan’s managed assets, with adjustments for actuarial gains and losses. The defined benefit pension plan obligation is calculated annually by independent actuaries. The current value of the defined benefit obligation is determined through discounting of expected future cash flows, using interest rates determined by current market interest rates. The service costs and actuarial gains and losses on the defined benefit obligation and the fair value on the plan assets are recognized in the Consolidated Statements of Income.
Commission and other revenue recognition	Commission and other revenue recognition Sirius Group recognizes agent commissions and other revenues when it has fulfilled all of its obligations necessary to earn the revenue and when it can both reliably estimate the amount of revenue, net of any amounts expected to be uncollectible, and any amounts associated with expected cancellations.
Earnings per share	Earnings per share Earnings per share is reported in accordance with ASC Topic 260 Earnings per Share . Basic earnings (loss) per share is computed by dividing net income (loss) available to Sirius Group common shareholders by the weighted-average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income available to Sirius Group common shareholders by the weighted-average number of common shares outstanding adjusted to give effect to potentially dilutive securities. (See Note 16 .)
Federal and foreign income taxes	Federal and foreign income taxes Some of Sirius Group’s subsidiaries file consolidated tax returns in the United States. Sirius Group has subsidiaries in various jurisdictions, including but not limited to Sweden, the United Kingdom, and Luxembourg, which are subject to applicable taxes in those jurisdictions. Deferred tax assets and liabilities are recorded when a difference between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts for tax purposes exists, and for other temporary differences. The deferred tax asset or liability is recorded based on tax rates expected to be in effect when the difference reverses. The deferred tax asset is recognized when it is more likely than not that it will be realized. The Tax Cuts and Jobs Act (the “TCJA”) which was enacted into law in the U.S. in December 31, 2017 includes a new base erosion and anti-abuse tax (“BEAT”), which is essentially a minimum tax that is potentially applicable to certain otherwise deductible payments made by U.S. entities to non-U.S. affiliates, including cross-border interest payments and reinsurance premiums. The statutory BEAT rate is 5% in 2018 and will rise to 10% in 2019-2025 and then 12.5% in 2026 and thereafter. The TCJA also includes provisions for Global Intangible Low-Taxed Income (“GILTI”) under which taxes on foreign income are imposed on the excess of a deemed return on tangible assets of certain foreign subsidiaries. Consistent with accounting guidance, Sirius Group will treat BEAT as an in period tax charge when incurred in future periods for which no deferred taxes need to be provided and has made an accounting policy election to treat GILTI taxes in a similar manner.
Foreign currency exchange	Foreign currency exchange The U.S. dollar is the functional currency for Sirius Group’s businesses except for Sirius International Insurance Corporation (“Sirius International”), Lloyd’s Syndicate 1945 (“Syndicate 1945”), several subsidiaries of International Medical Group Acquisition, Inc. (“IMG”), and the Canadian reinsurance operations of Sirius America Insurance Company (“Sirius America”). Sirius Group also invests in securities denominated in foreign currencies. Assets and liabilities recorded in these foreign currencies are translated into U.S. dollars at exchange rates in effect at the balance sheet date, and revenues and expenses are converted using the average exchange rates for the period. Net foreign exchange gains and losses arising from the translation of functional currencies are reported in shareholder’s equity, in Accumulated other comprehensive (loss). As of December 31, 2018 and 2017, Sirius Group had Net unrealized foreign currency translation losses of $202.4 million and $140.5 million, respectively, recorded in Accumulated other comprehensive (loss) on its Consolidated Balance Sheets. Assets and liabilities relating to foreign operations are remeasured into the functional currency using current exchange rates; revenues and expenses are remeasured into the functional currency using the weighted average exchange rate for the period. The resulting exchange gains and losses are reported as a component of net income in the period in which they arise within Net realized investment gains (losses), Net unrealized investment (losses), and Net foreign exchange gains (losses). The following rates of exchange for the U.S. dollar have been used for translation of assets and liabilities for subsidiaries whose functional currency is not the U.S. dollar at December 31, 2018 and 2017: Closing Closing Currency Rate 2018 Rate 2017 Swedish kronor 8.9397 8.2051 British pound 0.7850 0.7398 Euro 0.8734 0.8339 Canadian dollar 1.3614 1.2556
Goodwill and intangible assets	Goodwill and intangible assets Goodwill represents the excess of the purchase price of an acquisition over the fair value of the identifiable net assets acquired and is assigned to the applicable reporting unit at acquisition. Goodwill is evaluated for impairment on an annual basis. Sirius Group initially evaluates goodwill using a qualitative approach to determine whether it is more likely than not that the fair value of goodwill is greater than its carrying value. If the results of the qualitative evaluation indicate that it is more likely than not that the carrying value of goodwill exceeds its fair value, Sirius Group performs the quantitative test for impairment. Indefinite‑lived intangible assets are evaluated for impairment similar to goodwill. Finite‑lived intangible are amortized on a straight‑line basis over their estimated useful lives. The amortization periods approximate the period over which Sirius Group expects to generate future net cash inflows from the use of these assets. All of these assets are subject to impairment testing for the impairment or disposal of long‑lived assets when events or conditions indicate that the carrying value of an asset may not be fully recoverable from future cash flows. If goodwill or intangible assets are impaired, such assets are written down to their fair values with the related expense recorded in Sirius Group’s results of operations. (See Note 10 .)
Non-controlling interests	Non‑controlling interests Non‑controlling interests consist of the ownership interests of non‑controlling shareholders in consolidated subsidiaries, and are presented separately on the balance sheet.
Mezzanine equity	Mezzanine equity In connection with significant transactions the Company has entered into, the Company has issued preference shares. (See Note 3.) At the date of issuance, Sirius Group evaluates the conversion and redemption features associated with the preference shares in order to determine the balance sheet classification of the instrument. The preference shares are classified outside of permanent equity (as Mezzanine equity) when the preference shares are redeemable at a fixed or determinable price on a fixed or determinable date, at the option of the shareholder or upon the occurrence of an event that is not solely within the control of Sirius Group. Sirius Group accounts for the Series B preference shares outside of permanent equity as Mezzanine equity in the Consolidated Balance Sheets as the ability to settle in common shares cannot be assured.
Variable interest entities	Variable interest entities Sirius Group consolidates a VIE when it has both the power to direct the activities of the VIE that most significantly impact its economic performance and either the obligation to absorb losses or the right to receive returns from the VIE that could potentially be significant to the VIE. An entity in which Sirius Group holds a variable interest is a VIE if any of the following conditions exist: (a) the total equity investment at risk is not sufficient to permit the entity to finance its activities without additional subordinated financial support, (b) as a group, the holders of equity investment at risk lack either the direct or indirect ability through voting rights or similar rights to make decisions about an entity’s activities that most significantly impact the entity’s economic performance or the obligation to absorb the expected losses or right to receive the expected residual returns, or (c) the voting rights of some investors are disproportionate to their obligation to absorb the expected losses of the entity, their rights to receive the expected residual returns of the entity, or both, and substantially all of the entity’s activities either involve or are conducted on behalf of an investor with disproportionately few voting rights. The primary beneficiary is defined as the variable interest holder that is determined to have the controlling financial interest as a result of having both (a) the power to direct the activities of a VIE that most significantly impact the economic performance of the VIE and (b) the obligation to absorb losses or right to receive benefits from the VIE that could potentially be significant to the VIE. At inception of the VIE, as well as following an event that requires reassessment, Sirius Group determines whether it is the primary beneficiary based on the facts and circumstances surrounding each entity. (See Note 20 .)
Recently adopted changes in accounting principles	Recently adopted changes in accounting principles Definition of a business Effective January 1, 2018, Sirius Group adopted Accounting Standards Update (“ASU”) 2017-01, Business Combinations: Clarifying the Definition of a Business (ASC 805), which clarifies the definition of a business and affects the determination of whether acquisitions or disposals are accounted for as assets or as a business. Under the new guidance, when substantially all of the fair value of the assets is concentrated in a single identifiable asset or a group of similar identifiable assets, it is not a business. Sirius Group has applied the guidance in the update when determining the accounting treatment for transactions that have occurred during the year ended December 31, 2018. (See Note 3 ). Financial instruments - recognition and measurement Effective January 1, 2018, Sirius Group adopted ASU 2016-01, Recognition and Measurement of Financial Assets and Financial Liabilities (ASC 825-10). The new guidance modifies the guidance for financial instruments, including investments in equity securities. Under the new guidance, all equity securities with readily determinable fair values are required to be measured at fair value with changes therein recognized through current period earnings. In addition, the new guidance requires a qualitative assessment for equity securities without readily determinable fair values to identify impairment, and for impaired equity securities to be measured at fair value. Sirius Group measures its portfolio of investment securities at fair value with changes therein recognized through current period earnings and, accordingly, adoption did not have any impact on its consolidated financial statements. Revenue recognition Effective January 1, 2018, Sirius Group adopted ASU 2014-09, Revenue from Contracts with Customers (ASC 606), which modifies the guidance for revenue recognition. The scope of the new guidance excludes insurance contracts but is applicable to certain fee arrangements as well as commissions and other non-insurance revenues. This guidance impacts the timing of service fee recognition by IMG and ArmadaCorp Capital, LLC (“Armada”). Sirius Group used the modified retrospective transition approach to adopt this guidance, which resulted in the recognition of a cumulative effect of adoption as an adjustment to the beginning balance of retained earnings at the date of initial application of $1.6 million, net of tax.
Recent accounting pronouncements	Recent accounting pronouncements Premium amortization on callable debt securities In March 2017, the Financial Accounting Standards Board (“FASB”) issued ASU 2017-08, Premium Amortization on Purchased Callable Debt Securities (ASC 310-20), which changes the amortization period for certain purchased callable debt securities. Under the new guidance, for investments in callable debt securities held at a premium, the premium will be amortized over the period to the earliest call date. The new guidance does not change the amortization period for callable debt securities held at a discount. The new guidance is effective for annual and interim periods beginning after December 15, 2018. We plan to adopt the standard on its effective date of January 1, 2019. We do not expect the standard to have a material impact on our reported consolidated financial condition, results of operations, cash flows or required disclosures. Credit losses In June 2016, the FASB issued ASU 2016‑13, Measurement of Credit Losses on Financial Instruments (ASC 326), which establishes new guidance for the recognition of credit losses for financial assets measured at amortized cost. The new guidance, which applies to financial assets that have the contractual right to receive cash, including reinsurance receivables, requires reporting entities to estimate the credit losses expected over the life of a credit exposure using historical information, current information and reasonable and supportable forecasts that affect the collectability of the financial asset. The new guidance is effective for annual and interim periods beginning after December 15, 2019. We plan to adopt the standard on its effective date of January 1, 2020. We do not expect the standard to have a material impact on our reported consolidated financial condition, results of operations, cash flows or required disclosures. Leases In February 2016, the FASB issued ASU 2016-02, Leases (ASC 842). The new guidance requires lessees to recognize lease assets and liabilities on the balance sheet for both operating and financing leases, with the exception of leases with an original term of 12 months or less. Under existing guidance, recognition of lease assets and liabilities is not required for operating leases. The new guidance requires that lease assets and liabilities to be recognized and measured initially based on the present value of the lease payments. The new guidance is effective for annual and interim periods beginning after December 15, 2018. Sirius Group will adopt this guidance as of January 1, 2019. We estimate adoption of this standard will result in recognition of additional net lease assets and lease liabilities of approximately $37.7 million. We do not believe this standard will materially affect our consolidated net earnings.

Summary of significant accoun_3

Summary of significant accounting policies (Tables)	12 Months Ended
	Dec. 31, 2018
Summary of significant accounting policies
Summary of foreign currency exchange for translation of assets and liabilities	Closing Closing Currency Rate 2018 Rate 2017 Swedish kronor 8.9397 8.2051 British pound 0.7850 0.7398 Euro 0.8734 0.8339 Canadian dollar 1.3614 1.2556

Significant transactions (Table

Significant transactions (Tables)	12 Months Ended
	Dec. 31, 2018
IMG and its subsidiaries
Business combination
Schedule of fair value of net assets acquired and allocation of purchase price	(Millions) Total Useful Life Purchase price Cash paid $ 250.8 Series A redeemable preference shares 100.0 Contingent consideration 43.1 Total enterprise value 393.9 Less: Debt assumed (129.5) Total purchase price (a) $ 264.4 Assets acquired Total investments $ 41.0 Cash 10.5 Accrued investment income 0.2 Insurance and reinsurance premiums receivable 1.6 Deferred acquisition costs 2.9 Other assets 12.9 Intangible asset – distribution relationships 91.0 13.0 years Intangible asset – customer relationships 17.0 12.5 years Intangible asset – trade names 27.0 Intangible asset – technology 10.0 5.0 years Total assets acquired 214.1 Liabilities assumed Loss and loss adjustment expense reserves 14.3 Unearned insurance and reinsurance premiums 9.8 Deferred tax liability 55.9 Debt 129.5 Other liabilities 18.2 Total liabilities assumed 227.7 Net assets acquired (b) (13.6) Goodwill (a)-(b) $ 278.0
Schedule of supplemental pro forma information	Unaudited Pro Forma for the Years Ended December 31, (Millions) 2017 2016 Total revenues $ 1,176.8 $ 1,096.0 Net income $ (173.2) $ (4.6)
Armada and its Subsidiaries
Business combination
Schedule of fair value of net assets acquired and allocation of purchase price	(Millions) Total Useful Life Purchase price Cash paid $ 123.4 Contingent consideration 79.1 Total purchase price (a) $ 202.5 Assets acquired Restricted cash $ 10.4 Other assets 1.2 Intangible asset – distribution relationships 60.0 22.5 years Intangible asset – trade name 16.0 7.5 years Intangible asset – technology 5.5 9.0 years Total assets acquired 93.1 Liabilities assumed Other liabilities 13.3 Total liabilities assumed 13.3 Net assets acquired (b) 79.8 Goodwill (a)-(b) $ 122.7
Schedule of supplemental pro forma information	Unaudited Pro Forma for the Years Ended December 31, (Millions) 2017 2016 Total revenues $ 1,144.6 $ 1,032.6 Net income $ (155.1) $ 45.9

Segment information (Tables)

Segment information (Tables)	12 Months Ended
	Dec. 31, 2018
Segment information
Summary of segment results	For the year ended December 31, 2018 Specialty & Runoff & Corporate (Millions) Global Property Global A&H Casualty Other Elimination Total Gross written premiums $ 962.4 $ 500.6 $ 325.1 $ 32.9 $ — $ 1,821.0 Net written premiums $ 655.0 $ 379.8 $ 292.7 $ 29.6 $ — $ 1,357.1 Net earned insurance and reinsurance premiums $ 636.0 $ 357.6 $ 239.5 $ 29.2 $ — $ 1,262.3 Loss and allocated LAE (1) (518.2) (189.0) (142.9) (13.0) — (863.1) Insurance and reinsurance acquisition expenses (121.1) (109.7) (65.5) (2.8) 43.7 (255.4) Technical profit (loss) (3.3) 58.9 31.1 13.4 43.7 143.8 Unallocated LAE (2) (10.5) (5.9) (5.9) (1.6) (13.0) (36.9) Other underwriting expenses (68.2) (27.4) (28.2) (6.3) (16.1) (146.2) Underwriting (loss) income (82.0) 25.6 (3.0) 5.5 14.6 (39.3) Service fee revenue (3) — 115.7 — — (44.7) 71.0 Managing general underwriter unallocated LAE (4) — (14.0) — — 14.0 — Managing general underwriter other underwriting expenses (5) — (16.1) — — 16.1 — General and administrative expenses, MGU + Runoff & Other (6) — (53.6) — (3.1) — (56.7) Underwriting (loss) income, including net service fee income (82.0) 57.6 (3.0) 2.4 — (25.0) Net investment income — — — — — 71.4 Net realized investment gains (losses) — — — — — 2.3 Net unrealized investment (losses) gains — — — — — (23.2) Net foreign exchange gains (losses) — — — — — 22.7 Gain on revaluation of contingent consideration — — — — — 9.6 Other revenue (7) — — — — — 41.7 General and administrative expenses (8) — — — — — (21.2) Intangible asset amortization expenses — — — — — (15.8) Impairment of intangible assets — — — — — (8.0) Interest expense on debt — — — — — (30.8) Pre-tax income (loss) — — — — — $ 23.7 Underwriting Ratios Loss ratio 83.1 % 54.5 % 62.1 % NM NM 71.3 % Acquisition expense ratio 19.0 % 30.7 % 27.3 % NM NM 20.2 % Other underwriting expense ratio 10.7 % 7.7 % 11.8 % NM NM 11.6 % Combined ratio (9) 112.8 % 92.9 % 101.2 % NM NM 103.1 % Goodwill and intangible assets (10) $ — $ 588.1 $ — $ 8.1 $ — $ 596.2 (1) Loss and allocated LAE are part of Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income (the sum of Loss and allocated LAE and Unallocated LAE is equal to Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income). (2) Unallocated LAE are part of Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income (the sum of Loss and allocated LAE and Unallocated LAE is equal to Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income). (3) Service fee revenue is part of Other revenue on the Consolidated Statements of (Loss) Income (the sum of Service fee revenue and Other revenue is equal to Other revenue on the Consolidated Statements of (Loss) Income). (4) Managing general underwriter unallocated LAE represents IMG and Armada generated operating expenses following their integration with the Accident and Health insurance and reinsurance underwriting unit, representing costs associated with the claims process. In prior periods, all Armada and IMG expenses were disclosed within General and administrative expenses, MGU + Runoff & Other. (5) Managing general underwriter other underwriting expenses represent IMG and Armada generated operating expenses following their integration with the Accident and Health insurance and reinsurance underwriting unit, representing costs associated with the underwriting process. In prior periods, all Armada and IMG expenses were disclosed within General and administrative expenses, MGU + Runoff & Other. (6) General and administrative expenses, MGU + Runoff & Other is part of General and administrative expenses on the Consolidated Statements of (Loss) Income (the sum of General and administrative expenses, MGU + Runoff & Other and General and administrative expenses is equal to General and administrative expenses on the Consolidated Statements of (Loss) Income). (7) Other revenue is presented net of Service fee revenue and is comprised mainly of the right of indemnification, gains (losses) from derivatives (see Note 13 ), and the termination of the call option to purchase The Phoenix Holdings, Ltd. (the sum of Service fee revenue and Other revenue is equal to Other revenue on the Consolidated Statements of (Loss) Income). (8) General and administrative expenses are presented net of General and administrative expenses, MGU + Runoff & Other (the sum of General and administrative expenses, MGU + Runoff & Other and General and administrative expenses is equal to General and administrative expenses on the Consolidated Statements of (Loss) Income). (9) Ratios considered not meaningful (“NM”) to Runoff & Other and Corporate Elimination. (10) Sirius Group does not allocate its assets by segment, with the exception of goodwill and intangible assets . For the year ended December 31, 2017 Specialty & Runoff & Corporate (Millions) Global Property Global A&H Casualty Other Elimination Total Gross written premiums $ 732.1 $ 494.6 $ 218.1 $ (5.5) $ — $ 1,439.3 Net written premiums $ 556.2 $ 341.5 $ 193.0 $ (0.5) $ — $ 1,090.2 Net earned insurance and reinsurance premiums $ 564.4 $ 306.8 $ 163.2 $ 0.9 $ — $ 1,035.3 Loss and allocated LAE (1) (499.5) (175.0) (99.6) (11.0) — (785.1) Insurance and reinsurance acquisition expenses (112.9) (89.6) (41.1) 3.5 42.9 (197.2) Technical profit (loss) (48.0) 42.2 22.5 (6.6) 42.9 53.0 Unallocated LAE (2) (12.9) (4.8) (5.3) (3.1) — (26.1) Other underwriting expenses (63.3) (23.4) (16.5) (2.9) — (106.1) Underwriting (loss) income (124.2) 14.0 0.7 (12.6) 42.9 (79.2) Service fee revenue (3) — 65.9 — — (42.9) 23.0 Managing general underwriter unallocated LAE (4) — — — — — — Managing general underwriter other underwriting expenses (5) — — — — — — General and administrative expenses, MGU + Runoff & Other (6) — (44.8) — (4.0) — (48.8) Underwriting (loss) income, including net service fee income (124.2) 35.1 0.7 (16.6) — (105.0) Net investment income — — — — — 56.8 Net realized investment gains (losses) — — — — — (27.2) Net unrealized investment (losses) gains — — — — — (10.5) Net foreign exchange gains (losses) — — — — — 9.2 Gain on revaluation of contingent consideration — — — — — 48.8 Other revenue (7) — — — — — (1.3) General and administrative expenses (8) — — — — — (43.1) Intangible asset amortization expenses — — — — — (10.2) Impairment of intangible assets — — — — — (5.0) Interest expense on debt — — — — — (22.4) Pre-tax income (loss) — — — — — $ (109.9) Underwriting Ratios Loss ratio 90.8 % 58.6 % 64.3 % NM NM 78.4 % Acquisition expense ratio 20.0 % 29.2 % 25.2 % NM NM 19.0 % Other underwriting expense ratio 11.2 % 7.6 % 10.1 % NM NM 10.2 % Combined ratio (9) 122.0 % 95.4 % 99.6 % NM NM 107.6 % Goodwill and intangible assets (10) $ — $ 612.3 $ — $ 5.0 $ — $ 617.3 (1) Loss and allocated LAE are part of Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income (the sum of Loss and allocated LAE and Unallocated LAE is equal to Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income). (2) Unallocated LAE are part of Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income (the sum of Loss and allocated LAE and Unallocated LAE is equal to Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income). (3) Service fee revenue is part of Other revenue on the Consolidated Statements of (Loss) Income (the sum of Service fee revenue and Other revenue is equal to Other revenue on the Consolidated Statements of (Loss) Income). (4) Managing general underwriter unallocated LAE represents IMG and Armada generated operating expenses following their integration with the Accident and Health insurance and reinsurance underwriting unit, representing costs associated with the claims process. In prior periods, all Armada and IMG expenses were disclosed within General and administrative expenses, MGU + Runoff & Other. (5) Managing general underwriter other underwriting expenses represent IMG and Armada generated operating expenses following their integration with the Accident and Health insurance and reinsurance underwriting unit, representing costs associated with the underwriting process. In prior periods, all Armada and IMG expenses were disclosed within General and administrative expenses, MGU + Runoff & Other. (6) General and administrative expenses, MGU + Runoff & Other is part of General and administrative expenses on the Consolidated Statements of (Loss) Income (the sum of General and administrative expenses, MGU + Runoff & Other and General and administrative expenses is equal to General and administrative expenses on the Consolidated Statements of (Loss) Income). (7) Other revenue is presented net of Service fee revenue and is comprised mainly of gains (losses) from derivatives (see Note 13) (the sum of Service fee revenue and Other revenue is equal to Other revenue on the Consolidated Statements of (Loss) Income). (8) General and administrative expenses are presented net of General and administrative expenses, MGU + Runoff & Other (the sum of General and administrative expenses, MGU + Runoff & Other and General and administrative expenses is equal to General and administrative expenses on the Consolidated Statements of (Loss) Income). (9) Ratios considered not meaningful (“NM”) to Runoff & Other and Corporate Elimination. (10) Sirius Group does not allocate its assets by segment, with the exception of goodwill and intangible assets. For the year ended December 31, 2016 Specialty & Runoff & Corporate (Millions) Global Property Global A&H Casualty Other Elimination Total Gross written premiums $ 634.9 $ 436.1 $ 170.7 $ 27.3 $ — $ 1,269.0 Net written premiums $ 514.2 $ 277.6 $ 137.4 $ 8.9 $ — $ 938.1 Net earned insurance and reinsurance premiums $ 481.8 $ 272.2 $ 135.2 $ 0.9 $ — $ 890.1 Loss and allocated LAE (1) (256.6) (164.8) (71.2) (2.6) — (495.2) Insurance and reinsurance acquisition expenses (100.3) (71.7) (37.7) (0.6) — (210.3) Technical profit (loss) 124.9 35.7 26.3 (2.3) — 184.6 Unallocated LAE (2) (11.9) (6.8) (4.4) (1.0) — (24.1) Other underwriting expenses (65.1) (23.3) (15.1) (3.8) — (107.3) Underwriting (loss) income 47.9 5.6 6.8 (7.1) — 53.2 Service fee revenue (3) — — — 4.3 — 4.3 Managing general underwriter unallocated LAE (4) — — — — — — Managing general underwriter other underwriting expenses (5) — — — — — — General and administrative expenses, MGU + Runoff & Other (6) — — — (6.2) — (6.2) Underwriting (loss) income, including net service fee income 47.9 5.6 6.8 (9.0) — 51.3 Net investment income — — — — — 56.2 Net realized investment gains (losses) — — — — — 288.3 Net unrealized investment (losses) gains — — — — — (238.2) Net foreign exchange gains (losses) — — — — — (11.0) Gain on revaluation of contingent consideration — — — — — — Other revenue (7) — — — — — 4.8 General and administrative expenses (8) — — — — — (78.9) Intangible asset amortization expenses — — — — — — Impairment of intangible assets — — — — — — Interest expense on debt — — — — — (34.6) Pre-tax income (loss) — — — — — $ 37.9 Underwriting Ratios Loss ratio 55.7 % 63.0 % 55.9 % NM NM 58.3 % Acquisition expense ratio 20.8 % 26.3 % 27.9 % NM NM 23.6 % Other underwriting expense ratio 13.5 % 8.6 % 11.2 % NM NM 12.1 % Combined ratio (9) 90.0 % 97.9 % 95.0 % NM NM 94.0 % Goodwill and intangible assets (10) $ — $ — $ — $ 5.0 $ — $ 5.0 (1) Loss and allocated LAE are part of Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income (the sum of Loss and allocated LAE and Unallocated LAE is equal to Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income). (2) Unallocated LAE are part of Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income (the sum of Loss and allocated LAE and Unallocated LAE is equal to Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income). (3) Service fee revenue is part of Other revenue on the Consolidated Statements of (Loss) Income (the sum of Service fee revenue and Other revenue is equal to Other revenue on the Consolidated Statements of (Loss) Income). (4) Managing general underwriter unallocated LAE represents IMG and Armada generated operating expenses following their integration with the Accident and Health insurance and reinsurance underwriting unit, representing costs associated with the claims process. In prior periods, all Armada and IMG expenses were disclosed within General and administrative expenses, MGU + Runoff & Other. (5) Managing general underwriter other underwriting expenses represent IMG and Armada generated operating expenses following their integration with the Accident and Health insurance and reinsurance underwriting unit, representing costs associated with the underwriting process. In prior periods, all Armada and IMG expenses were disclosed within General and administrative expenses, MGU + Runoff & Other. (6) General and administrative expenses, MGU + Runoff & Other is part of General and administrative expenses on the Consolidated Statements of (Loss) Income (the sum of General and administrative expenses, MGU + Runoff & Other and General and administrative expenses is equal to General and administrative expenses on the Consolidated Statements of (Loss) Income). (7) Other revenue is presented net of Service fee revenue and is comprised mainly of gains (losses) from derivatives (see Note 13 ) (the sum of Service fee revenue and Other revenue is equal to Other revenue on the Consolidated Statements of (Loss) Income). (8) General and administrative expenses are presented net of General and administrative expenses, MGU + Runoff & Other (the sum of General and administrative expenses, MGU + Runoff & Other and General and administrative expenses is equal to General and administrative expenses on the Consolidated Statements of (Loss) Income). (9) Ratios considered not meaningful (“NM”) to Runoff & Other and Corporate Elimination. (10) Sirius Group does not allocate its assets by segment, with the exception of goodwill and intangible assets.
Summary information regarding net premiums written by client location and underwriting location by reportable segment	For the year ended December 31, 2018 Specialty & Runoff & (Millions) Global Property Global A&H Casualty Other Total Net written premiums by client location: United States $ 284.4 $ 307.7 $ 173.4 $ 29.2 $ 794.7 Europe 171.3 30.4 74.8 — 276.5 Canada, the Caribbean, Bermuda and Latin America 78.3 12.5 12.8 — 103.6 Asia and Other 121.0 29.2 31.7 0.4 182.3 Total net written premium by client location $ 655.0 $ 379.8 $ 292.7 $ 29.6 $ 1,357.1 Net written premiums by underwriting location: United States $ 31.6 $ 109.5 $ 9.8 $ 29.2 $ 180.1 Europe 304.9 224.9 162.3 — 692.1 Canada, the Caribbean, Bermuda and Latin America 270.6 44.7 118.5 — 433.8 Asia and Other 47.9 0.7 2.1 0.4 51.1 Total written premiums by underwriting location $ 655.0 $ 379.8 $ 292.7 $ 29.6 $ 1,357.1 For the year ended December 31, 2017 Specialty & Runoff & (Millions) Global Property Global A&H Casualty Other Total Net written premiums by client location: United States $ 220.8 $ 284.5 $ 59.0 $ (1.2) $ 563.1 Europe 142.4 28.2 91.7 — 262.3 Canada, the Caribbean, Bermuda and Latin America 93.0 9.5 8.7 0.2 111.4 Asia and Other 100.0 19.3 33.6 0.5 153.4 Total net written premium by client location $ 556.2 $ 341.5 $ 193.0 $ (0.5) $ 1,090.2 Net written premiums by underwriting location: United States $ 54.4 $ 98.2 $ (1.0) $ (1.1) $ 150.5 Europe 239.4 196.4 147.5 — 583.3 Canada, the Caribbean, Bermuda and Latin America 225.2 46.4 43.9 — 315.5 Asia and Other 37.2 0.5 2.6 0.6 40.9 Total written premiums by underwriting location $ 556.2 $ 341.5 $ 193.0 $ (0.5) $ 1,090.2 For the year ended December 31, 2016 Specialty & Runoff & (Millions) Global Property Global A&H Casualty Other Total Net written premiums by client location: United States $ 214.8 $ 211.7 $ 28.4 $ 8.1 $ 463.0 Europe 146.0 34.0 78.9 — 258.9 Canada, the Caribbean, Bermuda and Latin America 67.4 9.4 11.3 0.2 88.3 Asia and Other 86.0 22.5 18.8 0.6 127.9 Total net written premium by client location $ 514.2 $ 277.6 $ 137.4 $ 8.9 $ 938.1 Net written premiums by underwriting location: United States $ 192.9 $ 111.6 $ 6.5 $ 8.3 $ 319.3 Europe 238.3 164.2 128.8 — 531.3 Canada, the Caribbean, Bermuda and Latin America 50.1 1.4 — — 51.5 Asia and Other 32.9 0.4 2.1 0.6 36.0 Total written premiums by underwriting location $ 514.2 $ 277.6 $ 137.4 $ 8.9 $ 938.1

Reserves for unpaid losses an_2

Reserves for unpaid losses and loss adjustment expenses (Tables)	12 Months Ended
	Dec. 31, 2018
Reserves for unpaid losses and loss adjustment expenses
Summary of the loss and LAE reserve activities	(Millions) 2018 2017 2016 Gross beginning balance $ 1,898.5 $ 1,620.1 $ 1,644.4 Less beginning reinsurance recoverable on unpaid losses (319.7) (291.5) (283.1) Net loss and LAE reserve balance 1,578.8 1,328.6 1,361.3 Loss and LAE reserves acquired (1) 0.2 14.3 9.8 Losses and LAE incurred relating to: Current year losses 907.3 811.8 583.0 Prior years losses (7.3) (0.6) (63.7) Total net incurred losses and LAE 900.0 811.2 519.3 Accretion of fair value adjustment to net loss and LAE reserves 0.1 0.1 0.5 Foreign currency translation adjustment to net loss and LAE reserves (20.9) 36.8 (14.0) Loss and LAE paid relating to: Current year losses 251.4 222.8 207.6 Prior years losses 540.3 389.5 340.7 Total loss and LAE payments 791.7 612.3 548.3 Net ending balance 1,666.5 1,578.8 1,328.6 Plus ending reinsurance recoverable on unpaid losses 350.2 319.7 291.5 Gross ending balance $ 2,016.7 $ 1,898.5 $ 1,620.1 (1) Loss and LAE reserves acquired in 2018 relate to Sirius Group’s purchase of WRM America; 2017 relate to Sirius Group's purchase of IMG; 2016 relates to Sirius Group’s purchase of Mount Beacon.
Schedule of asbestos and environmental loss and loss adjustment expense reserve activity	2018 2017 2016 (Millions) Gross Net Gross Net Gross Net Asbestos: Beginning balance $ 259.2 $ 204.6 $ 187.0 $ 166.4 $ 193.5 $ 172.9 Incurred losses and LAE (6.9) (6.9) 96.9 59.0 15.3 13.6 Paid losses and LAE (15.5) (13.3) (24.7) (20.8) (21.8) (20.1) Ending balance 236.8 184.4 259.2 204.6 187.0 166.4 Environmental: Beginning balance 16.7 16.0 18.5 13.9 21.5 16.8 Incurred losses and LAE 4.0 4.0 2.9 6.1 0.4 0.4 Paid losses and LAE (4.0) (4.1) (4.7) (4.0) (3.4) (3.3) Ending balance 16.7 15.9 16.7 16.0 18.5 13.9 Total asbestos and environmental: Beginning balance 275.9 220.6 205.5 180.3 215.0 189.7 Incurred losses and LAE (3.0) (2.9) 99.8 65.1 15.7 14.0 Paid losses and LAE (19.5) (17.4) (29.4) (24.8) (25.2) (23.4) Ending balance $ 253.4 $ 200.3 $ 275.9 $ 220.6 $ 205.5 $ 180.3
Schedule of net loss reserves by type	(Millions) 2018 2017 Case Reserve $ 924.5 $ 833.9 IBNR Reserve 742.0 744.9 Loss and loss adjustment expense reserves, net of reinsurance $ 1,666.5 $ 1,578.8
Schedule of reconciliation of liabilities for unpaid loss and loss adjustment expense	(Millions) As of Liabilities for unpaid loss and LAE, net of reinsurance December 31, 2018 Unpaid and allocated LAE reserves, net of reinsurance Other Property $ 450.8 Property Catastrophe Excess 245.7 Agriculture 40.9 Global Accident & Health 148.2 Aviation & Space 86.6 Trade credit 42.1 Environmental 0.4 Marine 58.9 Surety 4.5 Contingency 13.7 Casualty 65.4 Runoff & Other 473.7 Total unpaid and allocated LAE reserves, net of reinsurance 1,631.0 Unallocated LAE 35.5 Total unpaid loss and LAE reserves, net of reinsurance 1,666.5 Reinsurance recoverable on unpaid losses Other Property 104.6 Property Catastrophe Excess 53.4 Agriculture 0.5 Global Accident & Health 45.0 Aviation & Space 18.6 Trade credit 10.9 Environmental 0.4 Marine 8.9 Surety 0.5 Contingency 4.9 Casualty — Runoff & Other 102.5 Total reinsurance recoverable on unpaid losses 350.2 Total unpaid loss and LAE reserves $ 2,016.7
Other property
Reserves for unpaid losses and loss adjustment expenses
Schedule of incurred losses and allocated loss adjustment expenses and cumulative paid losses and cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	Other Property (Millions) Incurred losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, December 31, 2018 Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Total IBNR liabilities plus Cumulative Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 development on reported claims number of reported claims 2009 118.3 108.7 98.3 94.2 94.1 93.1 95.8 94.6 92.8 93.1 0.2 NA 2010 156.1 153.4 144.7 145.3 140.4 139.5 138.8 137.2 136.9 1.4 NA 2011 163.5 150.9 141.7 133.7 131.8 132.5 132.8 131.6 0.1 NA 2012 163.4 150.0 144.8 140.4 135.7 133.7 133.6 1.6 NA 2013 131.2 127.4 116.6 113.0 112.7 112.2 (0.2) NA 2014 115.0 117.6 115.1 115.3 113.0 1.0 NA 2015 141.2 133.3 135.6 135.5 0.6 NA 2016 196.2 215.2 219.8 0.6 NA 2017 334.2 370.9 46.5 NA 2018 273.1 97.4 NA Total 1,719.7 Other Property (Millions) Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 2009 22.6 59.5 78.7 85.4 89.4 90.5 90.2 90.9 90.9 90.1 2010 31.2 88.7 115.6 123.3 128.2 130.3 130.8 130.9 130.7 2011 26.9 79.5 103.3 116.2 122.3 124.7 127.4 127.1 2012 20.1 85.4 108.2 116.5 119.8 125.1 126.0 2013 27.5 72.0 96.3 102.7 106.0 106.6 2014 19.0 69.4 96.2 104.5 106.7 2015 31.0 93.7 115.2 124.9 2016 31.5 128.9 181.8 2017 58.8 223.5 2018 55.7 Total 1,273.1 All outstanding liabilities before 2009, net of reinsurance 4.2 Liabilities for loss and allocated loss adjustment expenses, net of reinsurance 450.8
Schedule of average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance	Other Property Average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance Years 1 2 3 4 5 6 7 8 9 10 18.9 % 43.7 % 20.3 % 7.0 % 3.3 % 1.9 % 0.7 % 0.1 % (0.1) % (0.9) %
Property Catastrophe Excess
Reserves for unpaid losses and loss adjustment expenses
Schedule of incurred losses and allocated loss adjustment expenses and cumulative paid losses and cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	Property Catastrophe Excess (Millions) Incurred losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, December 31, 2018 Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Total IBNR liabilities plus Cumulative Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 development on reported claims number of reported claims 2009 48.2 49.0 47.7 46.7 45.9 45.1 44.8 44.9 44.9 44.9 (0.1) NA 2010 136.1 133.6 131.0 130.2 122.8 121.9 121.4 120.7 121.3 (0.2) NA 2011 148.6 153.2 142.7 121.0 117.4 116.6 116.6 116.6 0.1 NA 2012 70.8 59.2 52.6 50.6 51.1 46.3 46.5 0.5 NA 2013 71.6 78.2 75.3 74.7 73.9 73.6 0.0 NA 2014 56.2 57.7 54.9 54.9 54.8 0.3 NA 2015 27.6 29.6 27.2 26.2 0.0 NA 2016 50.6 48.2 42.8 1.8 NA 2017 106.3 124.4 20.3 NA 2018 157.3 60.6 NA Total 808.4 Property Catastrophe Excess (Millions) Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 2009 7.4 31.4 39.8 42.7 43.7 44.0 44.1 44.2 44.2 44.2 2010 49.8 90.0 102.5 107.6 111.1 113.6 117.5 117.5 118.0 2011 15.7 54.1 95.6 114.7 115.0 115.4 116.4 116.5 2012 2.8 26.2 35.8 40.5 41.5 43.3 44.5 2013 11.1 49.4 62.1 67.1 68.4 69.6 2014 9.4 36.1 42.3 47.9 49.5 2015 1.8 9.5 16.9 20.2 2016 10.4 25.7 31.9 2017 13.3 67.9 2018 2.8 Total 565.1 All outstanding liabilities before 2009, net of reinsurance 2.4 Liabilities for loss and allocated loss adjustment expenses, net of reinsurance 245.7
Schedule of average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance	Property Catastrophe Excess Average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance Years 1 2 3 4 5 6 7 8 9 10 15.4 % 41.3 % 19.8 % 9.4 % 1.9 % 1.6 % 1.9 % 0.1 % 0.3 % 0.0 %
Agriculture
Reserves for unpaid losses and loss adjustment expenses
Schedule of incurred losses and allocated loss adjustment expenses and cumulative paid losses and cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	Agriculture (Millions) Incurred losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, December 31, 2018 Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Total IBNR liabilities plus Cumulative Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 development on reported claims number of reported claims 2009 11.9 10.0 8.7 8.7 8.5 8.6 8.6 8.6 8.6 8.6 — NA 2010 12.8 10.8 10.9 10.7 10.7 10.7 10.7 10.7 10.7 (0.3) NA 2011 21.5 21.6 21.7 21.7 21.7 21.7 21.7 21.7 — NA 2012 41.0 45.8 45.8 45.7 46.9 46.9 46.9 (0.3) NA 2013 9.1 10.8 12.9 13.0 12.8 12.8 (0.1) NA 2014 9.6 8.1 8.4 8.8 8.8 0.2 NA 2015 7.0 9.2 9.5 9.5 — NA 2016 33.5 30.8 29.9 0.2 NA 2017 50.5 47.0 2.5 NA 2018 39.4 33.8 NA Total 235.3 Agriculture (Millions) Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 2009 2.2 9.0 8.6 8.6 8.4 8.4 8.4 8.4 8.4 8.4 2010 0.5 10.7 10.8 10.6 10.6 10.7 10.7 10.7 10.7 2011 1.0 21.3 21.6 21.6 21.6 21.6 21.6 21.6 2012 19.0 45.4 45.7 45.6 46.9 46.9 46.9 2013 7.1 10.6 12.8 13.0 12.8 12.8 2014 6.5 8.1 8.8 8.8 8.9 2015 1.5 7.8 9.0 9.3 2016 10.1 28.1 29.6 2017 9.2 43.7 2018 2.6 Total 194.5 All outstanding liabilities before 2009, net of reinsurance 0.1 Liabilities for loss and allocated loss adjustment expenses, net of reinsurance 40.9
Schedule of average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance	Agriculture Average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance Years 1 2 3 4 5 6 7 8 9 10 25.4 % 65.2 % 3.8 % 0.3 % 0.9 % 0.1 % 0.0 % 0.0 % 0.0 % 0.0 %
Global Accident & Health
Reserves for unpaid losses and loss adjustment expenses
Schedule of incurred losses and allocated loss adjustment expenses and cumulative paid losses and cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	Global Accident & Health (Millions) Incurred losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, December 31, 2018 Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Total IBNR liabilities plus Cumulative Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 development on reported claims number of reported claims 2009 86.6 84.3 81.3 79.2 78.9 79.0 78.9 79.0 79.0 79.0 — NA 2010 118.4 125.4 122.9 122.1 121.8 121.8 121.8 121.7 121.6 (0.1) NA 2011 161.3 176.7 172.3 171.7 171.7 171.6 171.5 171.4 0.1 NA 2012 163.4 160.1 147.8 147.1 146.8 146.7 146.6 (0.1) NA 2013 125.6 123.2 118.7 118.2 117.6 116.8 — NA 2014 131.1 132.2 130.6 130.6 129.6 0.2 NA 2015 153.5 149.5 146.1 144.8 0.7 NA 2016 176.7 190.9 186.7 5.0 NA 2017 176.4 168.3 13.2 NA 2018 202.8 52.3 NA Total 1,467.6 Global Accident & Health (Millions) Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 2009 27.7 67.7 76.1 77.7 78.5 78.6 78.7 78.8 78.8 78.8 2010 53.1 102.2 119.2 121.4 121.7 121.8 121.9 121.9 121.9 2011 71.2 139.2 166.1 171.1 171.5 171.6 171.6 171.6 2012 72.1 136.0 146.0 146.4 146.6 146.6 146.6 2013 54.4 103.6 114.1 115.5 116.7 116.2 2014 59.3 111.3 124.8 126.6 126.6 2015 75.7 130.3 141.8 143.4 2016 97.7 131.9 143.7 2017 95.7 146.0 2018 128.1 Total 1,322.9 All outstanding liabilities before 2009, net of reinsurance 3.5 Liabilities for loss and allocated loss adjustment expenses, net of reinsurance 148.2
Schedule of average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance	Global Accident & Health Average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance Years 1 2 3 4 5 6 7 8 9 10 50.1 % 36.5 % 10.0 % 1.5 % 0.4 % 0.0 % 0.0 % 0.0 % 0.0 % 0.0 %
Aviation & Space
Reserves for unpaid losses and loss adjustment expenses
Schedule of incurred losses and allocated loss adjustment expenses and cumulative paid losses and cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	Aviation & Space (Millions) Incurred losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, December 31, 2018 Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Total IBNR liabilities plus Cumulative Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 development on reported claims number of reported claims 2009 30.9 34.0 35.0 36.9 35.3 35.1 34.2 31.9 31.9 35.8 0.2 NA 2010 42.5 47.5 47.2 44.7 43.2 42.3 42.1 41.6 41.9 (0.5) NA 2011 46.9 42.3 37.9 35.9 34.7 34.5 35.8 35.1 (0.2) NA 2012 35.6 34.3 30.2 28.2 28.4 29.5 29.6 (0.2) NA 2013 40.6 36.4 33.4 32.0 32.9 33.0 (0.1) NA 2014 35.7 38.2 35.0 34.2 34.3 — NA 2015 39.5 35.9 40.0 39.0 0.1 NA 2016 32.1 32.6 33.6 1.3 NA 2017 34.0 43.0 5.9 NA 2018 48.0 19.8 NA Total 373.3 Aviation & Space (Millions) Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 2009 7.9 16.6 21.4 26.4 27.6 28.5 31.7 31.2 32.0 35.9 2010 12.0 22.1 31.5 36.2 37.8 38.8 39.7 39.9 41.0 2011 10.2 22.7 28.6 31.5 32.7 34.1 34.8 34.7 2012 7.6 18.4 22.6 24.6 27.3 28.2 28.7 2013 13.5 19.9 24.0 26.7 28.5 29.2 2014 8.0 17.9 23.6 26.2 28.2 2015 10.5 21.1 27.1 33.5 2016 7.8 19.7 26.9 2017 9.0 23.7 2018 14.3 Total 296.1 All outstanding liabilities before 2009, net of reinsurance 9.4 Liabilities for loss and allocated loss adjustment expenses, net of reinsurance 86.6
Schedule of average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance	Aviation & Space Average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance Years 1 2 3 4 5 6 7 8 9 10 27.0 % 29.4 % 16.8 % 10.5 % 5.0 % 2.8 % 3.7 % (0.4) % 2.4 % 10.9 %
Trade credit
Reserves for unpaid losses and loss adjustment expenses
Schedule of incurred losses and allocated loss adjustment expenses and cumulative paid losses and cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	Trade credit (Millions) Incurred losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, December 31, 2018 Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Total IBNR liabilities plus Cumulative Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 development on reported claims number of reported claims 2009 9.4 10.0 9.8 9.7 9.4 9.4 9.3 9.3 9.4 10.1 (0.1) NA 2010 14.1 12.3 9.6 9.7 9.8 9.7 9.6 9.8 9.8 (0.3) NA 2011 29.2 29.0 27.4 27.1 27.1 26.5 26.5 26.3 (0.2) NA 2012 34.5 34.3 32.5 32.8 32.4 32.4 32.0 (0.3) NA 2013 29.5 28.4 27.5 27.3 27.9 27.4 0.2 NA 2014 22.8 22.7 23.5 21.4 21.1 0.3 NA 2015 20.2 19.7 19.2 18.4 — NA 2016 15.3 13.2 12.5 0.6 NA 2017 19.2 20.1 6.2 NA 2018 25.0 13.3 NA Total 202.7 Trade credit (Millions) Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 2009 3.4 7.7 8.5 8.8 8.9 9.0 9.1 9.1 9.1 10.0 2010 1.8 5.2 7.7 8.6 9.0 9.1 9.3 9.4 9.5 2011 6.5 17.5 23.5 24.8 25.7 26.0 25.7 25.8 2012 14.7 26.8 31.0 31.8 32.1 31.9 31.9 2013 11.6 19.8 22.8 24.0 24.4 24.5 2014 7.8 13.7 17.7 19.2 19.7 2015 4.5 12.2 15.7 16.6 2016 4.6 8.9 10.6 2017 3.0 8.8 2018 7.7 Total 165.1 All outstanding liabilities before 2009, net of reinsurance 4.5 Liabilities for loss and allocated loss adjustment expenses, net of reinsurance 42.1
Schedule of average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance	Trade credit Average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance Years 1 2 3 4 5 6 7 8 9 10 32.3 % 35.3 % 16.4 % 4.6 % 2.1 % 0.4 % 0.0 % 0.3 % 1.0 % 8.2 %
Environmental
Reserves for unpaid losses and loss adjustment expenses
Schedule of incurred losses and allocated loss adjustment expenses and cumulative paid losses and cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	Environmental (Millions) Incurred losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, December 31, 2018 Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Total IBNR liabilities plus expected Cumulative Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 development on reported claims number of reported claims 2009 — — — — — — — — — — — NA 2010 — — — — — — — — — — NA 2011 — — — — — — — — — NA 2012 — — — — — — — — NA 2013 — — — — — — — NA 2014 — — — — — — NA 2015 — — — — — NA 2016 — — — — NA 2017 — — — NA 2018 0.4 0.4 NA Total 0.4 Environmental (Millions) Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 2009 — — — — — — — — — — 2010 — — — — — — — — — 2011 — — — — — — — — 2012 — — — — — — — 2013 — — — — — — 2014 — — — — — 2015 — — — — 2016 — — — 2017 — — 2018 — Total — All outstanding liabilities before 2009, net of reinsurance - Liabilities for loss and allocated loss adjustment expenses, net of reinsurance 0.4
Schedule of average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance	Environmental Average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance Years 1 2 3 4 5 6 7 8 9 10 0.9 % 0.0 % 0.0 % 0.0 % 0.0 % 0.0 % 0.0 % 0.0 % 0.0 % 0.0 %
Marine
Reserves for unpaid losses and loss adjustment expenses
Schedule of incurred losses and allocated loss adjustment expenses and cumulative paid losses and cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	Marine (Millions) Incurred losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, December 31, 2018 Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Total IBNR liabilities plus Cumulative Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 development on reported claims number of reported claims 2009 27.9 25.8 24.8 24.4 24.0 24.1 24.2 23.8 24.1 24.0 (0.1) NA 2010 32.3 35.1 32.7 32.4 33.3 32.9 31.6 31.3 31.1 — NA 2011 36.6 32.8 30.6 31.1 32.1 31.5 31.6 31.5 (0.3) NA 2012 27.3 33.4 36.1 37.5 37.9 36.8 36.3 1.2 NA 2013 23.3 20.5 19.3 18.3 18.1 18.0 — NA 2014 23.3 21.6 19.5 18.2 17.9 — NA 2015 29.5 31.5 29.2 28.8 0.1 NA 2016 28.3 29.2 28.4 1.1 NA 2017 37.5 35.1 6.3 NA 2018 23.3 9.3 NA Total 274.4 Marine (Millions) Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 2009 3.6 12.5 17.5 19.8 21.7 22.6 22.8 23.0 23.1 23.2 2010 5.0 12.2 17.1 19.5 21.3 26.7 27.5 28.5 28.7 2011 4.3 14.3 21.6 25.1 27.9 28.7 29.1 29.6 2012 5.2 14.7 24.2 27.1 29.1 31.0 32.6 2013 2.8 9.3 12.6 14.0 14.4 14.9 2014 4.1 10.3 13.7 15.0 15.8 2015 4.3 11.8 21.8 26.2 2016 6.8 17.5 21.4 2017 7.2 18.2 2018 5.3 Total 215.9 All outstanding liabilities before 2009, net of reinsurance 0.4 Liabilities for loss and allocated loss adjustment expenses, net of reinsurance 58.9
Schedule of average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance	Marine Average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance Years 1 2 3 4 5 6 7 8 9 10 17.8 % 30.7 % 22.0 % 9.7 % 6.1 % 6.7 % 2.4 % 1.9 % 0.6 % 0.4 %
Surety
Reserves for unpaid losses and loss adjustment expenses
Schedule of incurred losses and allocated loss adjustment expenses and cumulative paid losses and cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	Surety (Millions) Incurred losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, December 31, 2018 Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Total IBNR liabilities plus Cumulative Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 development on reported claims number of reported claims 2009 — — — — — — — — — — — NA 2010 0.1 0.1 0.2 0.4 0.4 0.3 0.3 0.1 0.1 0.1 NA 2011 0.3 0.5 0.6 0.6 0.4 0.4 0.2 0.2 0.2 NA 2012 0.5 0.6 0.6 0.4 0.4 0.3 0.3 0.3 NA 2013 1.0 0.9 0.7 0.5 0.7 0.9 0.7 NA 2014 1.2 1.1 1.0 1.1 1.3 1.1 NA 2015 1.0 1.2 1.0 0.8 0.8 NA 2016 — — 0.5 0.4 NA 2017 0.6 0.4 0.3 NA 2018 0.9 0.9 NA Total 5.4 Surety (Millions) Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 2009 — — — — — — — — — — 2010 — 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 2011 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 2012 0.1 0.1 0.1 0.2 0.2 0.2 0.2 2013 0.1 0.1 0.2 0.3 0.5 0.6 2014 — 0.2 0.4 0.7 0.9 2015 0.1 0.2 0.3 0.4 2016 — — 0.3 2017 — — 2018 — Total 2.7 All outstanding liabilities before 2009, net of reinsurance 1.8 Liabilities for loss and allocated loss adjustment expenses, net of reinsurance 4.5
Schedule of average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance	Surety Average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance Years 1 2 3 4 5 6 7 8 9 10 8.5 % 9.4 % 17.7 % 15.2 % 14.6 % 11.6 % 3.5 % 0.9 % 1.7 % 0.0 %
Contingency
Reserves for unpaid losses and loss adjustment expenses
Schedule of incurred losses and allocated loss adjustment expenses and cumulative paid losses and cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	Contingency (Millions) Incurred losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, December 31, 2018 Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Total IBNR liabilities plus Cumulative Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 development on reported claims number of reported claims 2009 6.9 6.4 6.3 6.2 6.2 6.2 6.3 6.3 6.4 6.3 — NA 2010 5.6 6.0 4.5 4.4 4.3 4.1 4.1 4.1 4.2 — NA 2011 7.8 7.1 6.6 6.5 6.5 6.6 6.6 6.6 0.1 NA 2012 9.5 8.5 8.6 8.4 8.2 8.0 8.0 — NA 2013 5.4 4.2 3.6 3.5 3.5 3.5 0.1 NA 2014 4.2 7.0 5.2 4.7 4.7 — NA 2015 10.0 9.7 9.0 8.9 0.1 NA 2016 18.0 18.4 17.4 0.3 NA 2017 9.8 10.7 1.2 NA 2018 9.5 4.2 NA Total 79.8 Contingency (Millions) Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 2009 4.9 5.9 6.1 6.1 6.1 6.2 6.2 6.2 6.3 6.4 2010 1.9 3.4 3.5 3.5 3.9 4.1 4.1 4.1 4.1 2011 2.1 5.7 6.4 6.4 6.4 6.5 6.5 6.5 2012 5.2 7.1 8.4 8.4 8.2 8.0 8.0 2013 1.8 3.0 3.2 3.3 3.3 3.3 2014 1.6 3.7 4.4 4.5 4.5 2015 2.8 7.2 7.8 7.8 2016 12.1 15.6 16.4 2017 3.0 7.1 2018 1.9 Total 66.0 All outstanding liabilities before 2009, net of reinsurance (0.1) Liabilities for loss and allocated loss adjustment expenses, net of reinsurance 13.7
Schedule of average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance	Contingency Average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance Years 1 2 3 4 5 6 7 8 9 10 46.7 % 33.0 % 8.0 % 0.4 % 0.8 % 0.0 % 0.4 % 0.5 % 1.3 % 0.6 %
Casualty
Reserves for unpaid losses and loss adjustment expenses
Schedule of incurred losses and allocated loss adjustment expenses and cumulative paid losses and cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	Casualty (Millions) Incurred losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, December 31, 2018 Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Total IBNR liabilities plus Cumulative Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 development on reported claims number of reported claims 2009 0.9 0.8 0.7 0.6 0.5 0.4 0.3 0.2 0.2 0.2 — NA 2010 1.7 1.5 1.6 1.4 1.1 0.9 0.6 0.6 0.5 — NA 2011 0.5 0.4 0.4 0.3 0.3 0.2 0.2 0.2 — NA 2012 0.2 0.2 0.4 0.5 0.5 0.5 0.5 0.1 NA 2013 0.4 0.4 0.4 0.4 0.5 0.5 — NA 2014 0.4 0.4 0.5 0.5 0.5 — NA 2015 0.5 0.8 0.6 0.5 — NA 2016 0.2 0.3 0.3 0.1 NA 2017 9.7 9.7 6.8 NA 2018 53.4 44.6 NA Total 66.3 Casualty (Millions) Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 2009 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.2 2010 — — 0.1 0.1 0.2 0.4 0.3 0.4 0.4 2011 — — 0.1 0.1 0.2 0.2 0.2 0.2 2012 — — 0.1 0.2 0.1 0.2 0.2 2013 0.1 0.1 0.2 0.3 0.4 0.4 2014 0.1 0.2 0.4 0.4 0.4 2015 0.2 0.4 0.4 0.4 2016 — 0.1 0.1 2017 — 0.6 2018 2.0 Total 4.9 All outstanding liabilities before 2009, net of reinsurance 4.0 Liabilities for loss and allocated loss adjustment expenses, net of reinsurance 65.4
Schedule of average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance	Casualty Average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance Years 1 2 3 4 5 6 7 8 9 10 3.7 % 9.7 % 14.4 % 10.8 % 8.1 % 11.9 % 3.4 % 3.4 % 3.0 % 2.8 %
Runoff & Other
Reserves for unpaid losses and loss adjustment expenses
Schedule of incurred losses and allocated loss adjustment expenses and cumulative paid losses and cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	Runoff & Other (Millions) Incurred losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, December 31, 2018 Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Total IBNR liabilities plus Cumulative Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 development on reported claims number of reported claims 2009 527.0 520.5 510.0 509.6 510.0 510.7 511.6 512.7 511.9 512.2 7.9 NA 2010 389.1 390.4 390.6 391.1 392.3 393.8 394.8 394.8 394.1 3.8 NA 2011 306.4 307.6 308.7 309.4 309.9 310.8 310.3 309.8 5.5 NA 2012 3.6 4.0 4.1 4.2 4.1 4.1 3.9 1.3 NA 2013 1.2 0.2 0.2 0.2 0.1 0.2 — NA 2014 0.2 0.2 0.3 0.4 0.5 — NA 2015 9.5 15.7 17.5 18.0 0.6 NA 2016 11.8 12.1 11.7 0.6 NA 2017 0.6 0.9 — NA 2018 30.3 6.6 NA Total 1,281.6 Runoff & Other (Millions) Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance Year ended December 31, Accident 2009 2010 2011 2012 2013 2014 2015 2016 2017 Year Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited Unaudited 2018 2009 289.1 402.5 480.3 483.8 488.3 492.1 495.1 496.5 498.9 499.6 2010 225.7 370.4 372.7 376.8 380.0 383.6 385.5 387.4 388.1 2011 291.8 293.8 296.1 297.8 299.5 301.6 303.1 303.6 2012 0.3 1.3 1.8 2.2 2.4 2.4 2.5 2013 0.7 0.1 0.1 0.1 0.1 0.1 2014 — — 0.1 0.2 0.3 2015 5.2 10.0 15.3 16.6 2016 6.2 10.1 10.9 2017 0.4 0.5 2018 7.9 Total 1,230.1 All outstanding liabilities before 2009, net of reinsurance 422.2 Liabilities for loss and allocated loss adjustment expenses, net of reinsurance 473.7
Schedule of average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance	Runoff & Other Average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance Years 1 2 3 4 5 6 7 8 9 10 64.5 % 21.5 % 7.1 % 0.9 % 0.8 % 0.8 % 0.5 % 0.3 % 0.3 % 0.1 %

Third party reinsurance (Tables

Third party reinsurance (Tables)	12 Months Ended
	Dec. 31, 2018
Third party reinsurance
Schedule of effects of reinsurance	(Millions) 2018 2017 2016 Written premiums: Direct $ 454.5 $ 450.2 $ 368.5 Assumed 1,366.5 989.1 900.5 Gross written premiums 1,821.0 1,439.3 1,269.0 Ceded (463.9) (349.1) (330.9) Net written premiums $ 1,357.1 $ 1,090.2 $ 938.1 Earned premiums: Direct $ 432.6 $ 405.7 $ 351.6 Assumed 1,236.2 942.2 877.7 Gross earned premiums 1,668.8 1,347.9 1,229.3 Ceded (406.5) (312.6) (339.2) Net earned premiums $ 1,262.3 $ 1,035.3 $ 890.1 Losses and LAE: Direct $ 260.5 $ 294.9 $ 216.9 Assumed 819.1 701.3 463.8 Gross losses and LAE 1,079.6 996.2 680.7 Ceded (179.6) (185.0) (161.4) Net losses and LAE $ 900.0 $ 811.2 $ 519.3
Schedule of industry loss warranty contracts	Sirius Group periodically purchases industry loss warranties (“ILW”) contracts to augment its overall retrocessional program. The following ILW contracts are currently in force: Scope Limit Trigger Expiration Date United States excluding North East, all natural perils $ 5.0 million $ 40.0 billion July 5, 2019 Europe, wind $ 5.0 million $ 7.5 billion April 30, 2019
Schedule of WTM covers purchased in connection with the CMIG International acquisition	The following table summarizes the WTM Covers purchased in connection with the CMIG International acquisition that expired in 2016: Scope Limit Industry Loss Trigger United States first event $ 75.0 million $ 40.0 billion United States first event $ 22.5 million $ 50.0 billion United States second event $ 45.0 million $ 15.0 billion Japan first event $ 25.0 million $ 12.5 billion
Schedule of gross, net recoverable amounts and percentage of total recoverables	. December 31, 2018 Rating(1) Gross Collateral Net % of Net Total AA $ 115.1 $ 1.5 $ 113.6 35 % A 212.9 45.4 167.5 52 % BBB+ — — — 0 % BBB or lower 19.5 13.3 6.2 2 % Not rated 57.7 23.2 34.5 11 % Total $ 405.2 $ 83.4 $ 321.8 100 % (1) Standard & Poor’s ratings as detailed above are: “AA” (Very strong), “A” (Strong), and “BBB+” and “BBB” (Adequate). December 31, 2017 Rating(1) Gross Collateral Net % of Net Total AA $ 116.9 $ 1.0 $ 115.9 43 % A 153.9 27.9 126.0 46 % BBB+ — — — 0 % BBB or lower 13.4 12.5 0.9 1 % Not rated 53.0 23.9 29.1 10 % Total $ 337.2 $ 65.3 $ 271.9 100 % (1) Standard & Poor’s ratings as detailed above are: “AA” (Very strong), “A” (Strong), and “BBB+” and “BBB” (Adequate).
Schedule of highest gross recoverable amounts and percentage of total recoverable amount by reinsurer	December 31, 2018 (Millions) Balance % of Total S&P rating % Collateralized Reinsurer: General Insurance Corporation of India (1) $ 82.7 20 % A− 97 % Swiss Reinsurance Company Ltd. 44.1 11 % AA− 0 % Berkshire Hathaway, Inc. 39.3 10 % AA+ 1 % Argo Capital Group Ltd. 16.7 4 % A− 87 % Lloyd's of London 13.4 3 % A+ 5 % (1) Reflects an A.M. Best rating of “A-” (Excellent). December 31, 2017 (Millions) Balance % of Total S&P rating % Collateralized Reinsurer: Swiss Reinsurance Company Ltd. $ 45.5 13 % AA− 0 % Berkshire Hathaway, Inc. 41.1 12 % AA+ 0 % Lloyd's of London 19.4 6 % A+ 16 % Argo Capital Group Ltd. 18.2 5 % A− 78 % General Insurance Corporation of India (1) 17.3 5 % A− 11 % Reflects an A.M. Best rating of “A-” (Excellent) .

Deferred acquisition costs (Tab

Deferred acquisition costs (Tables)	12 Months Ended
	Dec. 31, 2018
Deferred acquisition costs
Schedule of deferred acquisition costs	(Millions) 2018 2017 2016 Deferred acquisition costs - balance, beginning of the year $ 120.9 $ 84.7 $ 74.6 Acquisition costs deferred(1) 202.6 220.7 137.7 Amortization expense (180.4) (186.7) (126.7) Other, including foreign exchange (1.5) 2.2 (0.9) Deferred acquisition costs - balance, end of the year $ 141.6 $ 120.9 $ 84.7 (1) 2017 amount includes $2.9 from Acquisition of IMG. (See Note 3.)

Investment securities (Tables)

Investment securities (Tables)	12 Months Ended
	Dec. 31, 2018
Marketable securities
Schedule of net investment income	(Millions) 2018 2017 2016 Fixed maturity investments $ 53.2 $ 51.5 $ 58.0 Short-term investments 5.1 1.5 0.9 Equity securities 16.5 5.1 4.1 Other long-term investments 8.4 8.5 4.9 Interest on funds held under reinsurance treaties (0.5) — (0.5) Total investment income 82.7 66.6 67.4 Investment expenses (11.3) (9.8) (11.2) Net investment income $ 71.4 $ 56.8 $ 56.2
Schedule of net realized and unrealized investment (losses) gains	(Millions) 2018 2017 2016 Gross realized gains $ 42.3 $ 24.4 $ 310.8 Gross realized (losses) (40.0) (51.6) (22.5) Net realized gains (losses) on investments (1)(2) 2.3 (27.2) 288.3 Net unrealized (losses) on investments (3) (23.2) (10.5) (238.2) Net realized and unrealized investment (losses) gains on investments $ (20.9) $ (37.7) $ 50.1 (1) Includes 17.3, $(19.1), and $50.0 of realized gains (losses) due to foreign currency during 2018, 2017, and 2016, respectively. (2) Includes net realized gains of $222.5 related to Symetra in 2016. (See Note 3 .) (3) Includes $35.7, $(51.7), and $(7.7) of unrealized gains (losses) due to foreign currency during 2018, 2017, and 2016, respectively.
Schedule of net realized investment gains (losses)	(Millions) 2018 2017 2016 Fixed maturity investments $ 3.6 $ (19.1) $ 57.4 Equity securities (6.4) 0.1 231.9 Other long-term investments 5.1 (8.2) (1.0) Net realized investment gains (losses) $ 2.3 $ (27.2) $ 288.3
Schedule of net unrealized investment gains (losses)	(Millions) 2018 2017 2016 Fixed maturity investments $ 14.1 $ (41.3) $ (25.0) Equity securities (51.1) 25.2 (214.5) Other long-term investments 13.8 5.6 1.3 Net unrealized investment (losses) $ (23.2) $ (10.5) $ (238.2)
Level 3
Marketable securities
Schedule of net unrealized investment gains (losses)	(Millions) 2018 2017 2016 Fixed maturity investments $ (6.1) $ (0.2) $ (0.1) Equity securities — 0.1 — Other long-term investments 4.0 (0.6) 1.2 Total unrealized investment (losses) gains - Level 3 investments $ (2.1) $ (0.7) $ 1.1
Hedge funds and private equity funds
Marketable securities
Schedule of redemption frequency and advance notice period requirements for investments	The following summarizes the December 31, 2018 fair value of hedge funds subject to restrictions on redemption frequency and advance notice period requirements for investments in active hedge funds: Notice Period Redemption Frequency 30-59 days 60-89 days 90-119 days 120+ days (Millions) notice notice notice notice Total Monthly $ — $ 25.4 $ — $ — $ 25.4 Quarterly 0.8 — — — 0.8 Semi-annual — 0.8 — — 0.8 Annual — 15.6 55.7 20.0 91.3 Total $ 0.8 $ 41.8 $ 55.7 $ 20.0 $ 118.3
Private equity securities
Marketable securities
Schedule of investment securities by lock-up period.	As of December 31, 2018, investments in private equity funds were subject to lock-up periods as follows: (Millions) 1 - 3 years 3 – 5 years 5 – 10 years Total Private Equity Funds -- expected lock up period remaining $ 17.2 $ 4.6 $ 161.3 $ 183.1
Fixed maturity investments
Marketable securities
Schedule of investment securities and other long-term investments	2018 Cost or Gross Net foreign amortized unrealized Gross currency gains (Millions) cost gains unrealized losses (losses) Fair value Corporate debt securities $ 694.1 $ 1.4 $ (7.3) $ 7.6 $ 695.8 Asset-backed securities 496.3 0.1 (3.8) 1.9 494.5 Residential mortgage-backed securities 413.0 1.7 (7.1) 5.9 413.5 U.S. government and government agency 163.9 0.3 (0.5) 4.2 167.9 Commercial mortgage-backed securities 117.7 0.2 (2.7) 0.7 115.9 Non-U.S. government and government agency 50.6 — (0.2) (0.1) 50.3 Preferred stocks 14.5 0.6 (6.8) 0.2 8.5 U.S. States, municipalities and political subdivision 2.8 — — — 2.8 Total fixed maturity investments $ 1,952.9 $ 4.3 $ (28.4) $ 20.4 $ 1,949.2 2017 Cost or Gross Gross Net foreign amortized unrealized unrealized currency gains (Millions) cost gains losses (losses) Fair value Corporate debt securities $ 1,017.0 $ 3.1 $ (4.8) $ (0.8) $ 1,014.5 Asset-backed securities 478.1 0.4 (0.6) (2.5) 475.4 Residential mortgage-backed securities (1) 300.7 0.1 (5.6) (1.7) 293.5 U.S. government and government agency 85.8 — (0.8) (0.2) 84.8 Commercial mortgage-backed securities (1) 193.8 0.8 (3.6) — 191.0 Non-U.S. government and government agency 106.8 0.1 (0.9) 1.2 107.2 Preferred stocks 9.3 0.3 — 0.2 9.8 U.S. States, municipalities and political subdivision 3.8 — — — 3.8 Total fixed maturity investments $ 2,195.3 $ 4.8 $ (16.3) $ (3.8) $ 2,180.0 (1) 2017 figures have been revised to correct for a misclassification in prior disclosure of subcategories within residential mortgage-backed securities. Cost or amortized cost and fair value balances increased by $41.4 for residential mortgage-backed securities and decreased by the same amounts for commercial mortgage-backed securities. Gross unrealized losses and net foreign currency gains (losses) increased by $0.3 for residential mortgage-backed securities and decreased by the same amounts for commercial mortgage-backed securities.
Schedule of fixed maturity investment by contractual maturity	2018 2017 Cost or amortized Cost or amortized (Millions) cost Fair value cost Fair value Due in one year or less $ 249.6 $ 254.6 $ 106.3 $ 106.5 Due after one year through five years 635.6 636.4 1,009.0 1,006.4 Due after five years through ten years 26.2 25.7 71.2 70.8 Due after ten years 0.1 0.1 26.9 26.6 Mortgage-backed and asset-backed securities 1,026.9 1,023.9 972.6 959.9 Preferred stocks 14.5 8.5 9.3 9.8 Total $ 1,952.9 $ 1,949.2 $ 2,195.3 $ 2,180.0
Schedule of ratings and fair value of fixed maturity investments	(Millions) 2018 2017 AAA $ 602.0 $ 689.4 AA 818.0 635.2 A 290.5 416.4 BBB 167.4 333.8 Other 71.3 105.2 Total fixed maturity investments (1) $ 1,949.2 $ 2,180.0 (1) Credit ratings are assigned based on the following hierarchy: 1) Standard & Poor’s and 2) Moody’s Investor Service.
Fixed maturity investments | Estate, Equity and Other
Marketable securities
Schedule of investment securities and other long-term investments	(Millions) 2018 2017 (1) Mortgage-backed securities: Agency: Federal national mortgage association $ 185.0 $ 159.8 Federal home loan mortgage corporation 166.9 62.0 Government national mortgage association 59.4 57.2 Total agency (2) 411.3 279.0 Non-agency: Commercial 85.5 148.3 Residential 32.6 57.2 Total non-agency 118.1 205.5 Total mortgage-backed securities 529.4 484.5 Asset-backed securities: Collateralized loan obligations 373.0 — Vehicle receivables 63.8 314.6 Credit card receivables 10.7 53.0 Other 47.0 107.8 Total asset-backed securities 494.5 475.4 Total mortgage and asset-backed securities (3) $ 1,023.9 $ 959.9 (1) 2017 figures have been revised to correct for a misclassification in prior disclosure of subcategories within agency and non-agency mortgage-backed securities: total agency balances increased by $39.7 and total non-agency balances decreased by the same amount. (2) Represents publicly traded mortgage-backed securities which carry the full faith and credit guaranty of the U.S. government (i.e., GNMA) or are guaranteed by a government-sponsored entity (i.e., FNMA, FHLMC). (3) At December 31, 2018 and 2017, all mortgage- and asset-backed securities held by Sirius Group were classified as Level 2 investments.
Other long-term investments
Marketable securities
Schedule of investment securities and other long-term investments	(Millions) 2018 2017 Hedge funds and private equity funds $ 301.4 $ 205.3 Limited liability companies and private equity securities 63.6 64.2 Total other long-term investments $ 365.0 $ 269.5
Other long-term investments | Hedge funds and private equity funds
Marketable securities
Summary of investment securities by investment objective and sector	(Millions) 2018 2017 Unfunded Unfunded Fair Value Commitments Fair Value Commitments Hedge funds: Long/short multi-sector $ 41.0 $ — $ 31.5 $ — Distressed mortgage credit 54.8 — 25.5 — Private credit 20.0 — — — Other 2.5 — 3.2 — Total hedge funds 118.3 — 60.2 — Private equity funds: Energy infrastructure & services 93.7 54.2 73.5 56.4 Multi-sector 9.0 0.7 9.5 1.0 Healthcare 31.7 15.6 23.4 28.6 Life settlement 23.7 — 21.5 — Manufacturing/Industrial 23.6 10.4 15.9 5.1 Private equity secondaries 1.1 1.1 1.1 1.0 Real estate 0.3 — 0.2 — Total private equity funds 183.1 82.0 145.1 92.1 Total hedge and private equity funds included in other long-term investments $ 301.4 $ 82.0 $ 205.3 $ 92.1
Equity securities and Other long-term investments
Marketable securities
Schedule of investment securities and other long-term investments	(Millions) 2018 Cost or amortized Gross unrealized Gross unrealized Net foreign currency cost gains losses gains (losses) Fair value Equity securities $ 409.4 $ 17.8 $ (50.8) $ 3.6 $ 380.0 Other long-term investments $ 337.6 $ 32.6 $ (13.5) $ 8.3 $ 365.0 (Millions) 2017 Cost or amortized Gross unrealized Gross unrealized Net foreign currency cost gains losses gains (losses) Fair value Equity securities $ 275.1 $ 29.3 $ (5.1) $ (0.1) $ 299.2 Other long-term investments $ 255.5 $ 14.2 $ (4.1) $ 3.9 $ 269.5

Fair value measurements (Tables

Fair value measurements (Tables)	12 Months Ended
	Dec. 31, 2018
Fair value measurements
Summary of financial assets and liabilities measured at fair value	2018 Fair Level 1 Level 2 Level 3 (Millions) value inputs inputs inputs Assets measured at fair value Fixed maturity investments: U.S. Government and government agency $ 167.9 $ 164.7 $ 3.2 $ — Corporate debt securities 695.8 — 695.8 — Asset-backed securities 494.5 — 494.5 — Residential mortgage-backed securities 413.5 — 413.5 — Commercial mortgage-backed securities 115.9 — 115.9 — Non-U.S. government and government agency 50.3 42.9 7.4 — Preferred stocks 8.5 — 3.1 5.4 U.S. States, municipalities, and political subdivision 2.8 — 2.8 — Total fixed maturity investments 1,949.2 207.6 1,736.2 5.4 Short-term investments 715.5 679.3 36.2 — Equity securities 380.0 380.0 — — Other long-term investments (1) 63.6 — — 63.6 Total investments $ 3,108.3 $ 1,266.9 $ 1,772.4 $ 69.0 Derivative instruments 4.1 — — 4.1 Total assets measured at fair value $ 3,112.4 $ 1,266.9 $ 1,772.4 $ 73.1 Liabilities measured at fair value Contingent consideration liabilities $ 28.8 $ — $ — $ 28.8 Derivative instruments 5.1 0.5 — 4.6 Total liabilities measured at fair value $ 33.9 $ 0.5 $ — $ 33.4 (1) Excludes fair value of $301.4 associated with hedge funds and private equity funds which fair value is measured at net asset value using the practical expedient. 2017 Fair Level 1 Level 2 Level 3 (Millions) value inputs inputs inputs Assets measured at fair value Fixed maturity investments: U.S. Government and government agency $ 84.8 $ 83.2 $ 1.6 $ — Corporate debt securities 1,014.5 — 1,014.5 — Asset-backed securities 475.4 — 475.4 — Residential mortgage-backed securities (1) 293.5 — 293.5 — Commercial mortgage-backed securities (1) 191.0 — 191.0 — Non-U.S. government and government agency 107.2 94.8 12.4 — Preferred stocks 9.8 — 1.8 8.0 U.S. States, municipalities, and political subdivision 3.8 — 3.8 — Total fixed maturity investments 2,180.0 178.0 1,994.0 8.0 Short-term investments 625.0 566.2 58.8 — Equity securities 299.2 298.6 0.6 — Other long-term investments (2) 64.2 — — 64.2 Total investments $ 3,168.4 $ 1,042.8 $ 2,053.4 $ 72.2 Derivative instruments 4.5 — — 4.5 Total assets measured at fair value $ 3,172.9 $ 1,042.8 $ 2,053.4 $ 76.7 Liabilities measured at fair value Contingent consideration liabilities $ 42.8 $ — $ — $ 42.8 Derivative instruments 10.6 — — 10.6 Total liabilities measured at fair value $ 53.4 $ — $ — $ 53.4 (1) 2017 figures have been revised to correct for a misclassification in prior disclosure of subcategories within residential mortgage-backed securities and commercial mortgage-backed securities. Fair value and Level 2 input balances increased by $41.4 for residential mortgage-backed securities and decreased by the same amount for commercial mortgage-backed securities. (2) Excludes fair value of $205.3 associated with hedge funds and private equity funds which fair value is measured at net asset value using the practical expedient.
Rollforward of Level 3 fair value measurements	2018 Derivative Other instruments Contingent Fixed long-term assets & consideration (Millions) maturities investments (1) (liabilities) (liabilities) Balance at January 1, 2018 $ 8.0 $ 64.2 $ (6.1) $ (42.8) Fair value of contingent consideration liabilities at date of purchase (See Note 3 ) — — — — Total realized and unrealized gains (6.1) 6.8 12.0 9.6 Foreign currency losses through Other Comprehensive Income — (4.4) — — Purchases 4.0 1.2 — — Sales/settlements (0.5) (4.2) (6.4) 4.4 Transfers out — — — — Balance at December 31, 2018 $ 5.4 $ 63.6 $ (0.5) $ (28.8) (1) Excludes fair value of $301.5 associated with hedge funds and private equity funds which fair value is measured at net asset value using the practical expedient. 2017 Derivative Other instruments Contingent Fixed long-term assets & consideration (Millions) maturities investments (1) (liabilities) (liabilities) Balance at January 1, 2017 $ 27.7 $ 29.1 $ 12.7 $ — Fair value of contingent consideration liabilities at date of purchase (See Note 3 ) — — — (122.2) Total realized and unrealized gains (4.9) (0.5) (14.6) 48.8 Foreign currency losses through Other Comprehensive Income (0.1) 1.0 — — Purchases 4.7 36.0 — — Sales/settlements (1.0) (1.4) (4.2) 30.6 Transfers out (2) (18.4) — — — Balance at December 31, 2017 $ 8.0 $ 64.2 $ (6.1) $ (42.8) (1) Excludes fair value of $205.3 associated with hedge funds and private equity funds which fair value is measured at net asset value using the practical expedient. (2) Transfer from Level 3 to Level 2.
Schedule of significant unobservable inputs used for recurring fair value measurements for Level 3 instruments	(Millions) 2018 Fair Description Valuation technique(s) value Unobservable input Private equity securities (1) Share price of recent transaction $ 32.5 Purchase share price $ 40.63 Private equity securities (1) Multiple of GAAP book value $ 14.7 Book value multiple 0.9 X Private debt instrument (1) Purchase price of recent transaction $ 9.0 Purchase price $ 9.0 Private debt instrument (1) Purchase price of recent transaction $ 6.0 Purchase price $ 6.0 Preferred stock (1) Share price of recent transaction $ 4.6 Purchase price $ 1.88 Weather derivatives (2) Third party appraisal $ 3.9 Broker quote $ 3.9 Common stock (1) Purchase price of recent transaction $ 0.9 Purchase price $ 1.88 Preferred stock (1) Share price of recent transaction $ 0.8 Purchase price $ 0.8 Common stock (1) Share price of recent transaction $ 0.3 Purchase price $ 10.0 Private debt instrument (1) Purchase price of recent transaction $ 0.2 Purchase price $ 0.2 Interest rate cap (2) Third party appraisal $ 0.2 Broker quote $ 0.2 Currency swaps (2) Third party appraisal $ (4.6) Broker quote $ (4.6) Contingent consideration External valuation model $ (28.8) Discounted future payments $ (28.8) (1) As of December 31, 2018, each asset type consists of one security. (2) See Note 13 for discussion of derivative instruments. (Millions) 2017 Fair Description Valuation technique(s) value Unobservable input Private equity securities (1) Share price of recent transaction $ 25.0 Purchase share price $ 31.25 Private equity securities (1) Multiple of GAAP book value $ 17.2 Book value multiple 1.0 X Private debt instrument (1) Purchase price of recent transaction $ 9.0 Purchase price $ 9.0 Private debt instrument (1) Purchase price of recent transaction $ 9.0 Purchase price $ 9.0 Preferred stock (1) Purchase price of recent transaction $ 6.0 Average share price $ 0.6 Weather derivatives (2) Third party appraisal $ 4.2 Broker quote $ 4.2 Private debt instrument (1) Internal valuation model $ 2.5 Purchase price less pay down $ 2.5 Preferred stock (1) Share price of recent transaction $ 2.0 Average share price $ 11.79 Private debt instrument (1) Purchase price of recent transaction $ 1.5 Purchase price $ 1.5 Interest rate cap (2) Third party appraisal $ 0.3 Broker quote $ 0.3 Currency swaps (2) Third party appraisal $ (10.6) Broker quote $ (10.6) Contingent consideration External valuation model $ (42.8) Discounted future payments $ (42.8) (1) As of December 31, 2017, each asset type consists of one security. (2) See Note 13 for discussion of derivative instruments.
Schedule of financial instruments disclosed, but not carried at fair value	2018 2017 Fair Carrying Fair Carrying (Millions) Value (1) Value Value (1) Value Liabilities, Mezzanine equity, and Non-controlling interest: 2017 SEK Subordinated Notes $ 309.5 $ 303.6 $ 341.4 $ 330.7 2016 SIG Senior Notes $ 347.6 $ 393.2 $ 392.3 $ 392.5 Series B preference shares $ 191.7 $ 232.2 $ — $ — Series A redeemable preference shares $ — $ — $ 90.0 $ 106.1 (1) Fair value estimated by internal pricing and considered a Level 3 measurement.

Goodwill and intangible assets

Goodwill and intangible assets (Tables)	12 Months Ended
	Dec. 31, 2018
Goodwill and intangible assets
Schedule of changes in goodwill and intangible assets	Intangible Intangible assets with an assets with (Millions) Goodwill indefinite life a finite life Total Net balance at December 31, 2016 (1) $ — $ 5.0 $ — $ 5.0 Additions (2) 400.7 27.0 199.5 627.2 Foreign currency translation (2) 0.3 — — 0.3 Impairments (2) — (5.0) — (5.0) Amortization — — (10.2) (10.2) Net balance at December 31, 2017 (2) 401.0 27.0 189.3 617.3 Additions (3) — 3.1 — 3.1 Foreign currency translation (2) (0.4) — — (0.4) Impairments (2) — (8.0) — (8.0) Amortization (2) — — (15.8) (15.8) Net balance at December 31, 2018 $ 400.6 $ 22.1 $ 173.5 $ 596.2 (1) Net balance at December 31, 2016 for Intangible assets with an indefinite life relate to insurance licenses allocated to the Runoff & Other segment. (2) Foreign currency translation, impairments, and amortization in 2017 and 2018 relate to Armada and IMG and are allocated to the Global A&H segment. (3) Additions in 2018 relate to insurance licenses allocated to the Runoff & Other segment.
Schedule of components of goodwill and intangible assets	2018 Foreign Gross Accumulated currency Net (Millions) balance amortization Impairments translation balance Customer relationships – finite life (1) $ 17.0 $ (2.2) $ — $ — $ 14.8 Distribution relationships – finite life (1) 151.0 (15.8) — — 135.2 Goodwill – infinite life (1) 400.7 — — (0.1) 400.6 Insurance licenses – infinite life (2) 8.1 — — — 8.1 Technology – finite life (1) 15.5 (4.3) — — 11.2 Trade names – finite life (1) 16.0 (3.7) — — 12.3 Trade names – infinite life (1) 27.0 — (13.0) — 14.0 Net balance at December 31, 2018 $ 635.3 $ (26.0) $ (13.0) $ (0.1) $ 596.2 (1) Allocated to the Global A&H segment. (2) Allocated to the Runoff & Other segment. 2017 Foreign Gross Accumulated currency Net (Millions) balance amortization Impairments translation balance Customer relationships – finite life (1) $ 17.0 $ (0.8) $ — $ — $ 16.2 Distribution relationships – finite life (1) 151.0 (6.2) — — 144.8 Goodwill – infinite life (1) 400.7 — — 0.3 401.0 Insurance licenses – infinite life (2) 5.0 — — — 5.0 Technology – finite life (1) 15.5 (1.6) — — 13.9 Trade names – finite life (1) 16.0 (1.6) — — 14.4 Trade names – infinite life (1) 27.0 — (5.0) — 22.0 Net balance at December 31, 2017 $ 632.2 $ (10.2) $ (5.0) $ 0.3 $ 617.3 (1) Allocated to the Global A&H segment. (2) Allocated to the Runoff & Other segment.
Schedule of remaining amortization expense	(Millions) 2019 $ 15.8 2020 15.8 2021 15.8 2022 14.6 2023 13.8 2024 and thereafter 97.7 Total remaining amortization expense $ 173.5

Debt and standby letters of c_2

Debt and standby letters of credit facilities (Tables)	12 Months Ended
	Dec. 31, 2018
Debt and standby letters of credit facilities
Schedule of debt outstanding	December 31, Effective December 31, Effective (Millions) 2018 rate (1) 2017 rate (1) 2017 SEK Subordinated Notes, at face value $ 307.6 3.8 % $ 335.2 3.5 % Unamortized issuance costs (4.0) (4.5) 2017 SEK Subordinated Notes, carrying value 303.6 330.7 2016 SIG Senior Notes, at face value 400.0 4.7 % 400.0 4.7 % Unamortized discount (2.6) (2.9) Unamortized issuance costs (4.2) (4.6) 2016 SIG Senior Notes, carrying value 393.2 392.5 Total debt $ 696.8 $ 723.2 (1) Effective rate considers the effect of the debt issuance costs.
Schedule of contractual repayments of debt	December 31, (Millions) 2018 Due in one year or less $ — Due in one to three years — Due in three to five years — Due after five years 707.6 Total $ 707.6

Income taxes (Tables)

Income taxes (Tables)	12 Months Ended
	Dec. 31, 2018
Income taxes
Schedule of net income (loss) before income taxes	(Millions) 2018 2017 2016 Domestic: Bermuda $ 62.7 $ (95.0) $ (4.9) Foreign: U.S. (10.1) (22.4) (25.3) U.K. (14.9) (27.0) (7.0) Sweden (74.2) (26.1) (29.5) Luxembourg 60.3 43.4 105.3 Netherlands (0.1) 18.2 (0.1) Other — (1.0) (0.6) Total income (loss) before income taxes $ 23.7 $ (109.9) $ 37.9
Schedule of total income tax (expense) benefit	(Millions) 2018 2017 2016 Current tax (expense): U.S. Federal $ (7.0) $ (0.9) $ 2.1 State (2.2) (2.0) (1.7) Non-U.S. (19.8) (3.6) (11.4) Total current tax (expense) (29.0) (6.5) (11.0) Deferred tax (expense) benefit: U.S. Federal 14.5 (10.7) 16.0 State — — — Non-U.S. (25.9) (9.2) 2.3 Total deferred tax (expense) benefit (11.4) (19.9) 18.3 Total income tax (expense) benefit $ (40.4) $ (26.4) $ 7.3
Schedule of effective rate reconciliation	(Millions) 2018 2017 2016 Tax (expense) benefit at the statutory rate $ (5.2) $ 24.2 $ (8.3) Differences in taxes resulting from: Tax reserve adjustments (42.0) (0.7) (6.0) Tax rate change enacted in Sweden 15.4 — — Tax on Safety Reserve (15.3) — — Foreign tax credits 10.8 2.2 6.9 Section 197 Intangible as result of internal restructuring 6.9 — — Non-Sweden earnings 2.3 (18.4) (6.9) Gain on internal restructuring (9.1) — — State taxes expense (2.9) (0.7) (1.1) Change in valuation allowance 2.3 1.4 55.0 Withholding taxes (1.9) (0.8) (1.4) Tax rate change - other 0.1 (29.7) — Tax rate change enacted in Luxembourg — 0.4 (30.6) Other, net (1.8) (4.3) (0.3) Total income tax (expense) benefit on pre-tax earnings $ (40.4) $ (26.4) $ 7.3
Schedule of deferred tax assets and liabilities	(Millions) 2018 2017 Deferred income tax assets related to: Non-U.S. net operating loss carry forwards $ 249.8 $ 305.1 U.S. federal net operating loss and capital carry forwards 33.8 34.7 Tax credit carry forwards 28.7 18.3 Loss reserve discount 7.3 8.9 Unearned premiums 3.1 1.5 Deferred interest 2.1 0.2 Incentive compensation and benefits accruals 1.9 2.0 Allowance for doubtful accounts 1.4 1.4 Foreign currency translations on investments and other assets 0.8 — Net unrealized investment losses — 1.8 Other items 2.7 3.6 Total gross deferred income tax assets 331.6 377.5 Valuation allowance (64.3) (71.8) Total adjusted deferred tax asset 267.3 305.7 Deferred income tax liabilities related to: Safety reserve (See Note 18) 261.1 286.6 Intangible assets 28.7 42.0 Deferred acquisition costs 3.1 1.2 Purchase accounting 3.0 2.4 Investment basis differences 2.4 1.1 Net unrealized investment gains 0.3 — Foreign currency translations on investments and other assets — 7.3 Other items 3.6 3.2 Total deferred income tax liabilities 302.2 343.8 Net deferred tax (liability) asset $ (34.9) $ (38.1)
Schedule of net operating loss and capital loss carryforwards	(Millions) 2018 United States Luxembourg Sweden U.K. Total 2019-2023 $ 8.7 $ — $ — $ — $ 8.7 2024-2038 151.9 0.1 — — 152.0 No expiration date — 871.5 273.0 72.0 1,216.5 Total 160.6 871.6 273.0 72.0 1,377.2 Gross deferred tax asset 33.8 226.7 10.8 12.3 283.6 Valuation allowance — (64.6) — — (64.6) Net deferred tax asset $ 33.8 $ 162.1 $ 10.8 $ 12.3 $ 219.0
Schedule of reconciliation of the beginning and ending amount of unrecognized tax benefits	Permanent Temporary Interest and (Millions) differences (1) differences (2) penalties (3) Total Balance at January 1, 2016 $ 19.8 $ 6.6 $ — $ 26.4 Changes in prior year tax positions — — — — Tax positions taken during the current year 4.4 (2.5) 0.2 2.1 Lapse in statute of limitations — — — — Settlements with tax authorities — — — — Balance at December 31, 2016 $ 24.2 $ 4.1 $ 0.2 $ 28.5 Changes in prior year tax positions 0.2 (0.1) 0.1 0.2 Tax positions taken during the current year 3.8 (2.2) — 1.6 Lapse in statute of limitations (0.5) — — (0.5) Settlements with tax authorities (0.3) — (0.2) (0.5) Balance at December 31, 2017 $ 27.4 $ 1.8 $ 0.1 $ 29.3 Changes in prior year tax positions 1.4 — 0.1 1.5 Tax positions taken during the current year 36.2 (1.7) — 34.5 Lapse in statute of limitations — — — — Settlements with tax authorities (0.1) — — (0.1) Balance at December 31, 2018 $ 64.9 $ 0.1 $ 0.2 $ 65.2 (1) Represents the amount of unrecognized tax benefits that, if recognized, would impact the effective tax rate. (2) Represents the amount of unrecognized tax benefits that, if recognized, would create a temporary difference between the reported amount of an item in the Consolidated Balance Sheets and its tax basis. (3) Net of tax benefit.

Derivatives (Tables)

Derivatives (Tables)	12 Months Ended
	Dec. 31, 2018
Derivatives
Schedule of Interest Rate Cap collateral balances held	2018 (Millions) Collateral Balances Held S&P Rating (1) Barclays Bank Plc $ 0.2 A Nordea Bank Finland Abp 0.1 AA- Total $ 0.3 (1) Standard & Poor’s ratings as detailed above are: “AA -" (Very Strong, which is the fourth highest of twenty-three creditworthiness ratings) and “A” (Strong, which is the sixth highest of twenty-three credit worthiness ratings) .
Schedule of classification and amount of fair value of derivatives not designated as hedging instruments within Consolidated Balance Sheets	(Millions) 2018 2017 Liability Liability Derivatives not derivative at derivative at designated as hedging Asset derivative fair Asset derivative fair instruments Notional value at fair value (1) value (2) Notional value at fair value (1) value (2) Interest rate cap $ 250.0 $ 0.2 $ — $ 250.0 $ 0.3 $ — Foreign currency swaps $ 45.0 $ — $ 4.6 $ 45.0 $ — $ 10.6 Weather derivatives $ 150.5 $ 3.9 $ — $ 113.3 $ 4.2 $ — Equity put options $ 6.2 $ — $ 0.5 $ — $ — $ — (1) Asset derivatives are classified within Other assets within the Company’s Consolidated Balance Sheets at December 31, 2018 and 2017. (2) Liability derivatives are classified within Other liabilities within the Company’s Consolidated Balance Sheets at December 31, 2018 and 2017.
Schedule of classification and net impact on earnings, recognized in Consolidated Statements of (Loss) Income relating to derivatives	(Millions) Derivatives not designated as hedging instruments Classification of gains (losses) recognized in earnings 2018 2017 2016 Interest rate cap Other revenues $ 0.1 $ (1.5) $ (0.2) Foreign currency swaps Net foreign exchange gains (losses) $ 6.9 $ (11.3) $ 6.6 Foreign currency forwards (1) Net foreign exchange gains (losses) $ — $ (0.3) $ — Weather derivatives Other revenues $ 5.2 $ (1.5) $ 5.2 Equity futures contracts (2) Net realized investment gains (losses) $ 1.7 $ — $ — (1) There were no Foreign currency forwards at December 31, 2017 and an insignificant amount at December 31, 2016 on the Consolidated Balance Sheets . (2) There were no Equity futures contracts at December 31, 2018.

Employee benefit plans and co_2

Employee benefit plans and compensation plans (Tables)	12 Months Ended
	Dec. 31, 2018
Employee benefit plans and compensation plans
Schedule of breakdown of plan assets	2018 2017 International equities 11.4 % 18.1 % Swedish equities 7.5 % 9.8 % Swedish nominal bonds 40.3 % 32.7 % Real estate 11.2 % 11.3 % Private equity 10.4 % 9.7 % Other 19.2 % 18.4 %
Schedule of reconciliation of beginning and ending funded status and net amounts recognized	(Millions) 2018 2017 Change in benefit obligation Projected benefit obligation, beginning of year $ 17.4 $ 14.9 Service cost 1.0 0.8 Interest cost 0.4 0.3 Actuarial losses 0.6 0.4 Benefit payments (0.4) (0.5) Tax payments (0.2) (0.2) Currency revaluation effect (1.3) 1.7 Projected benefit obligation, end of year 17.5 17.4 Change in plan assets Fair value of plan assets, beginning of year 16.1 11.6 Employer contributions 1.2 0.9 Benefit payments (0.3) (0.3) Interest income 0.8 2.5 Currency revaluation effect (1.4) 1.4 Fair value of plan assets, end of year 16.4 16.1 Funded status at end of year (1) $ (1.1) $ (1.3) (1) At December 31, 2018, the Swedish plan had a funding status of $3.0 and the German plan had a funding status of $(4.1). At December 31, 2017, the Swedish plan had a funding status of $3.1 and the German plan had a funding status of $(4.4).
Schedule of components of net periodic pension expense	(Millions) 2018 2017 2016 Service cost $ (1.2) $ (0.8) $ (0.9) Interest cost 0.1 2.2 — Actuarial (loss) (0.8) (0.3) (0.9) Net periodic pension expense $ (1.9) $ 1.1 $ (1.8)
Schedule of projected benefit payments required for defined pension benefit plans	(Millions) December 31, 2018 2019 $ 0.4 2020 0.4 2021 0.4 2022 0.4 2023 0.4 2024-2028 2.9 Total benefit payments required $ 4.9
Sweden
Employee benefit plans and compensation plans
Schedule of assumptions used to determine benefit obligations	2018 2017 Discount rate 2.5 % 2.5 % Increase in compensation levels rate 3.2 % 3.2 % Turnover rate 3.0 % 3.0 %
Germany
Employee benefit plans and compensation plans
Schedule of assumptions used to determine benefit obligations	2018 2017 Discount rate 1.7 % 1.7 % Increase in compensation levels rate 2.0 % 2.0 %

Common shareholder's equity, me

Common shareholder's equity, mezzanine equity, and non-controlling interests (Tables)	12 Months Ended
	Dec. 31, 2018
Common shareholder's equity, mezzanine equity, and non-controlling interests
Schedule of changes in the company's issued and outstanding common shares	2018 2017 2016 Common shares: Shares issued and outstanding, beginning of year 120,000,000 120,000,000 12,000 Issuance of shares (See Note 3 ) 4,670,531 — — Shares redeemed (See Note 3 ) (9,519,280) — — Stock split (1) — — 119,988,000 Shares issued and outstanding, end of year 115,151,251 120,000,000 120,000,000 (1) On April 27, 2016, the Company split its common shares by a multiple of 10,000 resulting in 120,000,000 common shares issued and outstanding and changed the par value of the common shares from $1.00 per share to $0.01 per share.
Schedule of change in non-controlling interest	(Millions) Total Non-controlling interests as of December 31, 2015 $ 250.1 Net income attributable to non-controlling interests 19.3 Dividends to non-controlling interests (18.8) Other, net 0.7 Non-controlling interests as of December 31, 2016 $ 251.3 Net income attributable to non-controlling interests 13.7 Dividends to non-controlling interests (14.1) Other, net (250.7) Non-controlling interests as of December 31, 2017 $ 0.2 Net income attributable to non-controlling interests 1.4 Dividends to non-controlling interests — Other, net 0.1 Non-controlling interests as of December 31, 2018 $ 1.7

Earnings per share (Tables)

Earnings per share (Tables)	12 Months Ended
	Dec. 31, 2018
Earnings per share
Schedule of computation of basic and diluted earnings per common share	(Millions, except share and per share information) 2018 2017 2016 Numerator: Net (loss) income $ (16.7) $ (136.3) $ 51.8 Less: Income attributable to non-controlling interests (1.4) (13.7) (19.3) Less: Accrued dividends on Series A redeemable preference shares (2.6) (6.1) — Less: Change in carrying value of Series B preference shares (36.4) — — Add: Redemption of Series A redeemable preference shares 13.8 — — Net (loss) income attributable to Sirius Group common shareholders $ (43.3) $ (156.1) $ 32.5 Denominator: Weighted average shares outstanding for basic and diluted earnings per share (1)(2) 119,253,924 120,000,000 120,000,000 Earnings (loss) per share Basic earnings per share $ (0.36) $ (1.30) $ 0.27 Diluted earnings per share $ (0.36) $ (1.30) $ 0.27 (1) On April 27, 2016, the Company split its common shares by a multiple of 10,000 resulting in 120,000,000 common shares. The stock split has been applied retroactively to January 1,2016. (2) Due to the net loss incurred during the year ended December 31, 2018, all potentially dilutive securities have been excluded from Diluted earnings per share as they would be anti-dilutive. As of December 31, 2018, there were a total of 23,433,114 potentially dilutive securities excluded from the calculation of Diluted earnings per share. As of both December 31, 2017 and 2016, there were no potentially dilutive securities.

Accumulated other comprehensi_2

Accumulated other comprehensive (loss) (Tables)	12 Months Ended
	Dec. 31, 2018
Accumulated other comprehensive (loss)
Schedule of changes in accumulated other comprehensive (loss), by component	For the year ended December 31, 2018 Foreign currency translation (Millions) adjustment Other, net Total Balance, beginning of year $ (140.5) $ — $ (140.5) Other comprehensive (loss) (61.9) — (61.9) Balance, end of year $ (202.4) $ — $ (202.4) For the year ended December 31, 2017 Foreign currency translation (Millions) adjustment Other, net Total Balance, beginning of year $ (212.2) $ — $ (212.2) Other comprehensive (loss) 71.7 — 71.7 Balance, end of year $ (140.5) $ — $ (140.5) For the year ended December 31, 2016 Foreign currency translation (Millions) adjustment Other, net (1) Total Balance, beginning of year $ (144.9) $ (1.2) $ (146.1) Other comprehensive (loss) (67.3) 1.2 (66.1) Balance, end of year $ (212.2) $ — $ (212.2) (1) Other, net consists of accumulated other comprehensive income related to balances arising from Sirius Group’s share in OneBeacon’s Pension Liability (See Note 19 ) and from amortization of hedge related to the 2007 SIG Senior Notes.

Investments in unconsolidated_2

Investments in unconsolidated entities (Tables)	12 Months Ended
	Dec. 31, 2018
Schedule of Equity Method Investments [Line Items]
Schedule of components of Other long-term investments	(Millions) 2018 2017 Equity method eligible unconsolidated entities, at fair value $ 169.4 $ 121.2 Other unconsolidated investments, at fair value (1) 195.6 148.3 Total Other long-term investments (2) $ 365.0 $ 269.5 (1) Includes Other long-term investments that are not equity method eligible. (2) There were no investments accounted for using the equity method as of December 31, 2018 and 2017.
Schedule of investments in equity method eligible unconsolidated entities	Ownership interest at December 31, Investee 2018 2017 Instrument Held BE Reinsurance Limited 25.0 % 25.0 % Common shares BioVentures Investors (Offshore) IV LP 73.0 % 73.0 % Units Camden Partners Strategic Fund V (Cayman), LP 36.4 % 36.5 % Units NEC Cypress Buyer LLC (1) 13.3 % 23.5 % Units New Energy Capital Infrastructure Credit Fund LP 22.9 % 23.3 % Units New Energy Capital Infrastructure Offshore Credit Fund LP 54.9 % 56.2 % Units Scion G7, LP 28.8 % N/A Units Tuckerman Capital V LP 47.6 % 48.3 % Units Tuckerman Capital V Co-Investment I LP 47.7 % 49.5 % Units (1) The ownership percentage of NEC Cypress Buyer LLC was greater than 20% at December 31, 2017 but was less than 20% at December 31, 2018 and is included in the table for comparative purposes.
Schedule of summarized financial information of investments in equity method eligible unconsolidated entities	As of December 31, (Millions) 2018 2017 Balance sheet data: Total assets $ 503.5 $ 336.7 Total liabilities $ 71.6 $ 31.2 For the years ended December 31, (Millions) 2018 2017 2016 Income statement data: Revenues $ 42.8 $ 38.1 $ 21.6 Expenses $ (14.9) $ (12.2) $ (14.1)
OneBeacon
Schedule of Equity Method Investments [Line Items]
Schedule of carrying value of investment under equity method investment	(Millions) Total Equity method carrying value of investment in OneBeacon as of December 31, 2015 $ 151.9 Equity in earnings of OneBeacon 6.6 Dividends received (3.0) Other, net 0.7 Proceeds received for the sale of OneBeacon (178.3) Excess of fair value received over equity method carrying value of OneBeacon 22.1 Equity method carrying value of investment in OneBeacon as of April 18, 2016 $ —
Schedule of financial information of investee	March 31, (Millions) 2016 OneBeacon balance sheet data: Total investments $ 2,562.1 Total assets 3,529.0 Unpaid loss and loss adjustment expense reserves 1,343.8 Long-term debt 272.9 Total liabilities 2,509.2 Total non-controlling interests 3.2 Common shareholders' equity 1,016.6 The following table presents financial information for OneBeacon for the three months ended March 31, 2016: Three months ended (Millions) March 31, 2016 OneBeacon income statement data: Net premiums earned $ 278.6 Net investment income 14.4 Total revenues 310.5 Loss and loss adjustment expenses 158.8 Total expenses 272.3 Net income 46.4

Variable interest entities (Tab

Variable interest entities (Tables)	12 Months Ended
	Dec. 31, 2018
Variable interest entities
Schedule of assets and liabilities related to the consolidated VIEs	(Millions) 2018 2017 Assets: Fixed maturity investments $ 4.0 $ — Short-term investments 0.3 — Cash 0.2 4.5 Total investments 4.5 4.5 Accrued investment income 0.1 — Insurance and reinsurance premiums receivable 3.7 4.1 Funds held by ceding companies 5.2 2.7 Deferred acquisition costs 0.9 1.3 Total assets $ 14.4 $ 12.6 Liabilities Loss and loss adjustment expense reserves $ 4.6 $ 3.5 Unearned insurance and reinsurance premiums 3.7 4.3 Total liabilities $ 8.3 $ 7.8
Schedule of total assets of unconsolidated VIEs	Maximum Exposure to Loss Total VIE On-Balance Off-Balance (Millions) Assets Sheet Sheet Total December 31, 2018 Other long-term investments (1) $ 209.1 $ 103.1 $ 32.0 $ 135.1 Total at December 31, 2018 $ 209.1 $ 103.1 $ 32.0 $ 135.1 December 31, 2017 Other long-term investments (1) $ 1,378.1 $ 108.2 $ 57.4 $ 165.6 Total at December 31, 2017 $ 1,378.1 $ 108.2 $ 57.4 $ 165.6 (1) Comprised primarily of hedge funds and private equity funds.

Commitments and contingencies (

Commitments and contingencies (Tables)	12 Months Ended
	Dec. 31, 2018
Commitments and contingencies
Schedule of gross reinsurance premiums written by intermediaries	Gross written premium by intermediary 2018 2017 2016 AON Corporation and subsidiaries 26 % 22 % 22 % Guy Carpenter & Company and subsidiaries 18 % 18 % 18 % WT Butler and Co. Ltd. 10 % 10 % 8 % Total 54 % 50 % 48 %
Schedule of net written premiums by geographic region	(Millions) 2018 2017 2016 United States $ 794.7 $ 563.1 $ 463.0 Europe 276.5 262.3 258.9 Canada, the Caribbean, Bermuda and Latin America 103.6 111.4 88.3 Asia and Other 182.3 153.4 127.9 Total $ 1,357.1 $ 1,090.2 $ 938.1
Schedule of future annual minimum rental payments required under non cancellable leases for office space	Future (Millions) Payments 2019 $ 10.4 2020 9.2 2021 7.6 2022 6.8 2023 and after 6.1 Total $ 40.1

Unaudited condensed quarterly_2

Unaudited condensed quarterly financial data (Tables)	12 Months Ended
	Dec. 31, 2018
Unaudited condensed quarterly financial data
Schedule of unaudited condensed quarterly financial data	December 31, September 30, June 30, March 31, (Expressed in millions of U.S. dollars, except per share amounts) 2018 2018 2018 2018 Unaudited Unaudited Unaudited Unaudited Total revenues $ 336.8 $ 351.7 $ 441.8 $ 327.5 Total expenses $ 482.3 $ 386.3 $ 292.4 $ 273.1 Net (loss) income attributable to Sirius Group’s common shareholders $ (153.6) $ (28.0) $ 97.8 $ 40.5 Basic earnings per common share and common share equivalent $ (1.31) $ (0.23) $ 0.78 $ 0.32 Diluted earnings per common share and common share equivalent $ (1.31) $ (0.23) $ 0.78 $ 0.32 December 31, September 30, June 30, March 31, (Expressed in millions of U.S. dollars, except per share amounts) 2017 2017 2017 2017 Unaudited Unaudited Unaudited Unaudited Total revenues $ 362.6 $ 293.0 $ 252.6 $ 225.9 Total expenses $ 305.8 $ 478.1 $ 240.2 $ 219.9 Net (loss) income attributable to Sirius Group’s common shareholder $ 16.0 $ (179.0) $ (0.8) $ 7.7 Basic earnings per common share and common share equivalent $ 0.13 $ (1.49) $ (0.01) $ 0.06 Diluted earnings per common share and common share equivalent $ 0.13 $ (1.49) $ (0.01) $ 0.06

Summary of significant accoun_4

Summary of significant accounting policies - Deferred software costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Summary of significant accounting policies
Unamortized deferred software costs	$ 173.5	$ 189.3
Amortization of intangible assets	$ 15.8	10.2
Minimum
Summary of significant accounting policies
Amortization straight-line basis and over useful life	3 years 3 months 18 days
Maximum
Summary of significant accounting policies
Amortization straight-line basis and over useful life	20 years 10 months 24 days
Deferred software costs
Summary of significant accounting policies
Unamortized deferred software costs	$ 9.3	10.5
Amortization of intangible assets	$ 4.8	$ 4.6	$ 3.2
Deferred software costs | Minimum
Summary of significant accounting policies
Amortization straight-line basis and over useful life	3 years
Deferred software costs | Maximum
Summary of significant accounting policies
Amortization straight-line basis and over useful life	5 years

Summary of significant accoun_5

Summary of significant accounting policies - Share-based compensation (Details)	12 Months Ended
	Dec. 31, 2018
2016 Long Term Incentive Plan
Summary of significant accounting policies
Vesting period	3 years
2018 Omnibus plan
Summary of significant accounting policies
Vesting period	3 years

Summary of significant accoun_6

Summary of significant accounting policies - Federal and foreign income taxes (Details)	12 Months Ended
	Dec. 31, 2018
Summary of significant accounting policies
Tax Cuts and Jobs Act of 2017, BEAT tax rate, 2018 (as a percent)	5.00%
Tax Cuts and Jobs Act of 2017, BEAT tax rate, 2019-2025 (as a percent)	10.00%
Tax Cuts and Jobs Act of 2017, BEAT tax rate, 2026 and thereafter (as a percent)	12.50%

Summary of significant accoun_7

Summary of significant accounting policies - Foreign currency exchange (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Summary of significant accounting policies
Net unrealized foreign currency translation losses	$ 202.4	$ 140.5
Swedish kronor
Summary of significant accounting policies
Currency Closing Rate	8.9397	8.2051
British pound
Summary of significant accounting policies
Currency Closing Rate	0.7850	0.7398
Euro
Summary of significant accounting policies
Currency Closing Rate	0.8734	0.8339
Canadian dollar
Summary of significant accounting policies
Currency Closing Rate	1.3614	1.2556

Summary of significant accoun_8

Summary of significant accounting policies - Recent adopted changes in accouting principle and Recent accounting pronouncements (Details) - USD ($) $ in Millions	Jan. 01, 2019	Jan. 01, 2018
ASU 2014-09
Summary of significant accounting policies
Cumulative effect adjustment to retained earnings		$ 1.6
ASU 2016-02 | Restatement
Summary of significant accounting policies
Additional net lease assets	$ 37.7
Additional net lease liabilities	$ 37.7

Significant transactions - East

Significant transactions - Easterly Acquisition Corp., WRM America Indemnity Company, Inc. and The Phoenix Holdings Ltd. (Details) $ / shares in Units, $ in Millions	Nov. 16, 2018USD ($)	Nov. 05, 2018USD ($)$ / sharesemployeeshares	Nov. 02, 2018USD ($)$ / sharesshares	Sep. 30, 2018$ / shares	Aug. 22, 2018shares	Aug. 16, 2018USD ($)	Dec. 31, 2018USD ($)shares
Significant transactions
Value of shares redeemed		$ 164
Shares issued | shares							4,670,531
Share-based compensation expense							$ 2.5
Stock redeemed (in shares) | shares							9,519,280
ESPP
Significant transactions
Minimum number of shares to be purchased | shares					100
Maximum number of shares to be purchased | shares					1,000
Preference Share Investors | Private Placement | Series B preference shares
Significant transactions
Share subscriptions (in shares) | shares		11,901,670
The Phoenix
Significant transactions
Charge on termination of share repurchase agreement							$ 4.5
Merger Agreement
Significant transactions
Gross proceeds		$ 226.1
Proceeds from merger, private placement and employee stock purchase plan		$ 268
Merger Agreement | Private Placement
Significant transactions
Number of Times of Diluted Book Value Per Share, Exchange Price of Share		1.05
Adjusted diluted book value per share | $ / shares		17.22447
Merger Agreement | ESPP
Significant transactions
Number of Times of Diluted Book Value Per Share, Exchange Price of Share		1.05
Minimum number of shares to be purchased | shares		100
Maximum number of shares to be purchased | shares		1,000
Loan repayment term		2 years
Number of employees that purchased shares | employee		405
Number of common shares purchased | shares		149,236
Share-based compensation expense		$ 2.6
Merger Agreement | CM Bermuda
Significant transactions
Adjustment to consideration payable	$ 1.6
Merger related contractual costs	9
Merger related legal, advisory and other costs	$ 7.1
Merger Agreement | CM Bermuda | Common shares
Significant transactions
Reported book value per share (in dollars per share) | $ / shares				$ 16.44
Subscription Agreement | Preference Share Investors | Private Placement
Significant transactions
Warrants Received | shares		5,418,434
Exercisable period of warrants		5 years
Strike price as a percentage of the per share purchase price		125.00%
Warrant strike price per share | $ / shares		$ 21.53
Cost value of warrants		$ 9.6
Stock issuance costs		$ 2
Subscription Agreement | Preference Share Investors | Private Placement | Series B preference shares
Significant transactions
Share subscriptions (in shares) | shares		11,901,670
Value of share subscriptions		$ 195.8
Subscription Agreement | Preference Share Investors | Private Placement | Series B preference shares | Common shares
Significant transactions
Share subscriptions (in shares) | shares		1,225,954
Value of share subscriptions		$ 20.8
Redemption Agreement | CM Bermuda | Common shares
Significant transactions
Value of shares redeemed			$ 164
Stock redeemed (in shares) | shares			9,519,280
Share price (in dollars per share) | $ / shares			$ 17.22447
Redemption Agreement | IMGAH
Significant transactions
Redemption amount of preference shares		$ 95
For the first 100 shares | ESPP
Significant transactions
Purchase price of common shares as a percentage on its market value					85.00%
For the first 100 shares | Merger Agreement | ESPP
Significant transactions
Purchase price of common shares as a percentage on its market value		85.00%
For the next 900 shares | ESPP
Significant transactions
Purchase price of common shares as a percentage on its market value					100.00%
For the next 900 shares | Merger Agreement | ESPP
Significant transactions
Purchase price of common shares as a percentage on its market value		100.00%
Easterly | Merger Agreement
Significant transactions
Public shares held by Easterly's public stockholders in trust		$ 39.3	$ 149
Shares issued | shares		2,280,241
Issuance of converted warrants | shares		6,088,535
Easterly | Merger Agreement | Common shares
Significant transactions
Number of Times of Diluted Book Value Per Share, Exchange Price of Share				1.05
Exchange ratio		0.609
Value of shares redeemed		$ 109.7
WRM America Indemnity Company, Inc.
Significant transactions
Percentage of ownership interest acquired						100.00%
Consideration						$ 16.9
Acquisition of intangible assets						$ 3.1

Significant transactions - IMG

Significant transactions - IMG Acquisition (Details) - USD ($) $ in Millions	Nov. 08, 2018	May 26, 2017	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Liabilities assumed
Goodwill			$ 400.6				$ 401				$ 400.6	$ 401
Payment of contingent consideration											4.4	30.6
Gain on revaluation of contingent consideration											9.6	48.8
Gross written premiums											1,821	1,439.3	$ 1,269
Revenues			336.8	$ 351.7	$ 441.8	$ 327.5	$ 362.6	$ 293	$ 252.6	$ 225.9	1,457.8	1,134.1	994.5
Net income											(18.1)	(150)	$ 32.5
IMG and its subsidiaries
Business combination
Percentage of ownership interest acquired		100.00%
Earnout		$ 50
Purchase price
Cash paid		250.8
Series A redeemable preference shares		100
Contingent consideration		43.1	$ 19.9								19.9
Total enterprise value		393.9
Less: Debt assumed		(129.5)
Total purchase price		264.4
Assets acquired
Total investments		41
Cash		10.5
Accrued investment income		0.2
Insurance and reinsurance premiums receivable		1.6
Deferred acquisition costs		2.9
Other assets		12.9
Total assets acquired		214.1
Liabilities assumed
Loss and loss adjustment expense reserves		14.3
Unearned insurance and reinsurance premiums		9.8
Deferred tax liability		55.9
Debt		129.5
Other liabilities		18.2
Total liabilities assumed		227.7
Net assets acquired		(13.6)
Goodwill		278
Goodwill recognized is expected to be deductible for income tax purposes		0
Payment of contingent consideration	$ 3.5
Gain on revaluation of contingent consideration											6.1	$ 13.6
Gross written premiums											$ 136
Gross written premiums (in percent)											7.00%	11.00%	14.00%
Revenues												$ 79.6
Net income												$ 13.3
IMG and its subsidiaries | Trade Names
Assets acquired
Intangible asset-trade names		27
IMG and its subsidiaries | Distribution relationships
Assets acquired
Intangible asset		$ 91
Intangible asset useful life		13 years
IMG and its subsidiaries | Customer relationships
Assets acquired
Intangible asset		$ 17
Intangible asset useful life		12 years 6 months
IMG and its subsidiaries | Technology
Assets acquired
Intangible asset		$ 10
Intangible asset useful life		5 years
IMG and its subsidiaries | Certus
Business combination
Secured promissory note issued		$ 9

Significant transactions - IM_2

Significant transactions - IMG Acquisition - Series A Redeemable Preference Shares (Details) - IMG and its subsidiaries - Series A redeemable preference shares - USD ($) $ / shares in Units, $ in Millions	Nov. 05, 2018	May 26, 2017	Dec. 31, 2017
Temporary Equity [Line Items]
Redeemable preferred shares authorized		150,000
Redeemable preferred shares issued as a consideration		100,000
Redeemable preference share liquidation preference per share (in dollars per share)		$ 1,000
Maximum redeemable preferred shares available pursuant to earnout		50,000
Redemption of redeemable preference shares in cash	$ 95
Redeemable preferred shares carrying amount			$ 106.1

Significant transactions - IM_3

Significant transactions - IMG Acquisition - Supplemental Pro Forma Information (Details) - IMG and its subsidiaries - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Supplemental Pro Forma Information
Total revenues	$ 1,176.8	$ 1,096
Net income	$ (173.2)	$ (4.6)

Significant transactions - Arma

Significant transactions - Armada Acquisition (Details) - USD ($) $ in Millions	Apr. 03, 2017	Dec. 31, 2017	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Liabilities assumed
Goodwill		$ 401	$ 400.6				$ 401				$ 400.6	$ 401
Earnout payment											4.4	30.6
Gain on revaluation of contingent consideration											9.6	48.8
Revenues			336.8	$ 351.7	$ 441.8	$ 327.5	362.6	$ 293	$ 252.6	$ 225.9	1,457.8	1,134.1	$ 994.5
Net income											$ (18.1)	(150)	$ 32.5
Maximum
Assets acquired
Intangible asset useful life											20 years 10 months 24 days
Armada and its Subsidiaries
Business combination
Percentage of ownership interest acquired	100.00%
Purchase price
Cash paid	$ 123.4
Contingent consideration	79.1	$ 13.3	$ 8.9				$ 13.3				$ 8.9	13.3
Total purchase price	202.5
Assets acquired
Restricted cash	10.4
Other assets	1.2
Total assets acquired	93.1
Liabilities assumed
Other liabilities	13.3
Total liabilities assumed	13.3
Net assets acquired	79.8
Goodwill	122.7
Earnout payment percentage		82.00%
Earnout payment		$ 30.6									0.9
Gain on revaluation of contingent consideration											$ 3.5	35.2
Revenues												24.7
Net income												$ 9.7
Armada and its Subsidiaries | Distribution relationships
Assets acquired
Intangible asset	$ 60
Intangible asset useful life	22 years 6 months
Armada and its Subsidiaries | Customer relationships
Assets acquired
Intangible asset	$ 16
Intangible asset useful life	7 years 6 months
Armada and its Subsidiaries | Technology
Assets acquired
Intangible asset	$ 5.5
Intangible asset useful life	9 years
First 50% acquisition of Armada
Purchase price
Total purchase price	$ 123.4
Remaining 50% acquisition of Armada
Purchase price
Contingent consideration	79.1
Remaining 50% acquisition of Armada | Maximum
Business combination
Earnout	$ 125
Remaining 50% of Armada
Business combination
Period of contingent earn-out mechanism on which the redemption price is based	3 years

Significant transactions - Ar_2

Significant transactions - Armada Acquisition - Supplemental Pro Forma Information (Details) - Armada and its Subsidiaries - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Supplemental Pro Forma Information
Total revenues	$ 1,144.6	$ 1,032.6
Net income	$ (155.1)	$ 45.9

Significant transactions - Moun

Significant transactions - Mount Beacon, OneBeacon, Ashmere and Symetra (Details) - USD ($) $ / shares in Units, $ in Millions	May 17, 2016	Apr. 18, 2016	Feb. 01, 2016
OneBeacon
Other significant transactions
Proceeds from sale of investments		$ 178.3
Amount of excess of fair value over the equity method carrying value accounted as additional paid-in surplus		22.1
Symetra
Other significant transactions
Proceeds from sale of investments			$ 559.8
Sale price of equity investment (in dollars per share)			$ 32
Sirius Global Solutions | Ashmere Insurance Company
Other significant transactions
Proceeds from sale of investments		$ 18.5
Sirius Global Solutions | FSA
Other significant transactions
Consideration	$ 15.8
Percentage of ownership interest acquired	100.00%

Segment information (Details)

Segment information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)segmentproduct	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Segment information
Number of reportable segments | segment	4
Gross written premiums	$ 1,821	$ 1,439.3	$ 1,269
Net written premiums	1,357.1	1,090.2	938.1
Net earned insurance and reinsurance premiums	1,262.3	1,035.3	890.1
Loss and allocated LAE	(863.1)	(785.1)	(495.2)
Insurance and reinsurance acquisition expenses	(255.4)	(197.2)	(210.3)
Technical profit (loss)	143.8	53	184.6
Unallocated LAE	(36.9)	(26.1)	(24.1)
Other underwriting expenses	(146.2)	(106.1)	(107.3)
Underwriting (loss) income	(39.3)	(79.2)	53.2
Service fee revenue	71	23	4.3
General and administrative expenses	77.9	91.9	85.1
Underwriting (loss) income, including net service fee income	(25)	(105)	51.3
Net investment income	71.4	56.8	56.2
Net realized investment gains (losses)	2.3	(27.2)	288.3
Net unrealized investment gains (losses)	(23.2)	(10.5)	(238.2)
Net foreign exchange gains (losses)	22.7	9.2	(11)
Gain on revaluation of contingent consideration	9.6	48.8
Other revenue	41.7	(1.3)	4.8
General and administrative expenses	(21.2)	(43.1)	(78.9)
Intangible asset amortization expenses	(15.8)	(10.2)
Impairment of intangible assets	(8)	(5)
Interest expense on debt	(30.8)	(22.4)	(34.6)
Pre-tax income (loss)	$ 23.7	$ (109.9)	$ 37.9
Underwriting Ratios
Loss ratio	71.30%	78.40%	58.30%
Acquisition expense ratio	20.20%	19.00%	23.60%
Other underwriting expense ratio	11.60%	10.20%	12.10%
Combined ratio	103.10%	107.60%	94.00%
Goodwill and intangible assets	$ 596.2	$ 617.3	$ 5
Managing general underwriters
Segment information
General and administrative expenses	56.7	48.8	6.2
Corporate Elimination
Segment information
Insurance and reinsurance acquisition expenses	43.7	42.9
Technical profit (loss)	43.7	42.9
Unallocated LAE	(13)
Other underwriting expenses	(16.1)
Underwriting (loss) income	14.6	42.9
Service fee revenue	(44.7)	(42.9)
Corporate Elimination | Managing general underwriters
Segment information
Unallocated LAE	14
Other underwriting expenses	16.1
Global Property | Reportable segments
Segment information
Gross written premiums	962.4	732.1	634.9
Net written premiums	655	556.2	514.2
Net earned insurance and reinsurance premiums	636	564.4	481.8
Loss and allocated LAE	(518.2)	(499.5)	(256.6)
Insurance and reinsurance acquisition expenses	(121.1)	(112.9)	(100.3)
Technical profit (loss)	(3.3)	(48)	124.9
Unallocated LAE	(10.5)	(12.9)	(11.9)
Other underwriting expenses	(68.2)	(63.3)	(65.1)
Underwriting (loss) income	(82)	(124.2)	47.9
Underwriting (loss) income, including net service fee income	$ (82)	$ (124.2)	$ 47.9
Underwriting Ratios
Loss ratio	83.10%	90.80%	55.70%
Acquisition expense ratio	19.00%	20.00%	20.80%
Other underwriting expense ratio	10.70%	11.20%	13.50%
Combined ratio	112.80%	122.00%	90.00%
Global A&H | Reportable segments
Segment information
Gross written premiums	$ 500.6	$ 494.6	$ 436.1
Net written premiums	379.8	341.5	277.6
Net earned insurance and reinsurance premiums	357.6	306.8	272.2
Loss and allocated LAE	(189)	(175)	(164.8)
Insurance and reinsurance acquisition expenses	(109.7)	(89.6)	(71.7)
Technical profit (loss)	58.9	42.2	35.7
Unallocated LAE	(5.9)	(4.8)	(6.8)
Other underwriting expenses	(27.4)	(23.4)	(23.3)
Underwriting (loss) income	25.6	14	5.6
Service fee revenue	115.7	65.9
Underwriting (loss) income, including net service fee income	$ 57.6	$ 35.1	$ 5.6
Underwriting Ratios
Loss ratio	54.50%	58.60%	63.00%
Acquisition expense ratio	30.70%	29.20%	26.30%
Other underwriting expense ratio	7.70%	7.60%	8.60%
Combined ratio	92.90%	95.40%	97.90%
Goodwill and intangible assets	$ 588.1	$ 612.3
Global A&H | Reportable segments | Managing general underwriters
Segment information
Unallocated LAE	(14)
Other underwriting expenses	(16.1)
General and administrative expenses	$ 53.6	44.8
Specialty & Casualty | Reportable segments
Segment information
Number of core products | product	4
Gross written premiums	$ 325.1	218.1	$ 170.7
Net written premiums	292.7	193	137.4
Net earned insurance and reinsurance premiums	239.5	163.2	135.2
Loss and allocated LAE	(142.9)	(99.6)	(71.2)
Insurance and reinsurance acquisition expenses	(65.5)	(41.1)	(37.7)
Technical profit (loss)	31.1	22.5	26.3
Unallocated LAE	(5.9)	(5.3)	(4.4)
Other underwriting expenses	(28.2)	(16.5)	(15.1)
Underwriting (loss) income	(3)	0.7	6.8
Underwriting (loss) income, including net service fee income	$ (3)	$ 0.7	$ 6.8
Underwriting Ratios
Loss ratio	62.10%	64.30%	55.90%
Acquisition expense ratio	27.30%	25.20%	27.90%
Other underwriting expense ratio	11.80%	10.10%	11.20%
Combined ratio	101.20%	99.60%	95.00%
Specialty & Casualty | Reportable segments | Minimum
Segment information
Pre-agreed domestic and export sales of goods and services coverage period	60 days
Specialty & Casualty | Reportable segments | Maximum
Segment information
Pre-agreed domestic and export sales of goods and services coverage period	120 days
Runoff & Other | Reportable segments
Segment information
Gross written premiums	$ 32.9	$ (5.5)	$ 27.3
Net written premiums	29.6	(0.5)	8.9
Net earned insurance and reinsurance premiums	29.2	0.9	0.9
Loss and allocated LAE	(13)	(11)	(2.6)
Insurance and reinsurance acquisition expenses	(2.8)	3.5	(0.6)
Technical profit (loss)	13.4	(6.6)	(2.3)
Unallocated LAE	(1.6)	(3.1)	(1)
Other underwriting expenses	(6.3)	(2.9)	(3.8)
Underwriting (loss) income	5.5	(12.6)	(7.1)
Service fee revenue			4.3
Underwriting (loss) income, including net service fee income	2.4	(16.6)	(9)
Underwriting Ratios
Goodwill and intangible assets	8.1	5	5
Runoff & Other | Reportable segments | Managing general underwriters
Segment information
General and administrative expenses	$ 3.1	$ 4	$ 6.2

Segment information - Net premi

Segment information - Net premiums written by client location and underwriting location by reportable segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	$ 1,357.1	$ 1,090.2	$ 938.1
Client location: United States
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	794.7	563.1	463
Client location: Europe
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	276.5	262.3	258.9
Client location: Canada, the Caribbean, Bermuda and Latin America
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	103.6	111.4	88.3
Client location: Asia and Other
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	182.3	153.4	127.9
Underwriting location: United States
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	180.1	150.5	319.3
Underwriting location: Europe
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	692.1	583.3	531.3
Underwriting location: Canada, the Caribbean, Bermuda and Latin America
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	433.8	315.5	51.5
Underwriting location: Asia and Other
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	51.1	40.9	36
Global Property | Reportable segments
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	655	556.2	514.2
Global Property | Client location: United States | Reportable segments
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	284.4	220.8	214.8
Global Property | Client location: Europe | Reportable segments
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	171.3	142.4	146
Global Property | Client location: Canada, the Caribbean, Bermuda and Latin America | Reportable segments
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	78.3	93	67.4
Global Property | Client location: Asia and Other | Reportable segments
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	121	100	86
Global Property | Underwriting location: United States | Reportable segments
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	31.6	54.4	192.9
Global Property | Underwriting location: Europe | Reportable segments
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	304.9	239.4	238.3
Global Property | Underwriting location: Canada, the Caribbean, Bermuda and Latin America | Reportable segments
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	270.6	225.2	50.1
Global Property | Underwriting location: Asia and Other | Reportable segments
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	47.9	37.2	32.9
Global A&H | Reportable segments
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	379.8	341.5	277.6
Global A&H | Client location: United States | Reportable segments
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	307.7	284.5	211.7
Global A&H | Client location: Europe | Reportable segments
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	30.4	28.2	34
Global A&H | Client location: Canada, the Caribbean, Bermuda and Latin America | Reportable segments
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	12.5	9.5	9.4
Global A&H | Client location: Asia and Other | Reportable segments
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	29.2	19.3	22.5
Global A&H | Underwriting location: United States | Reportable segments
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	109.5	98.2	111.6
Global A&H | Underwriting location: Europe | Reportable segments
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	224.9	196.4	164.2
Global A&H | Underwriting location: Canada, the Caribbean, Bermuda and Latin America | Reportable segments
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	44.7	46.4	1.4
Global A&H | Underwriting location: Asia and Other | Reportable segments
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	0.7	0.5	0.4
Specialty & Casualty | Reportable segments
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	292.7	193	137.4
Specialty & Casualty | Client location: United States | Reportable segments
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	173.4	59	28.4
Specialty & Casualty | Client location: Europe | Reportable segments
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	74.8	91.7	78.9
Specialty & Casualty | Client location: Canada, the Caribbean, Bermuda and Latin America | Reportable segments
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	12.8	8.7	11.3
Specialty & Casualty | Client location: Asia and Other | Reportable segments
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	31.7	33.6	18.8
Specialty & Casualty | Underwriting location: United States | Reportable segments
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	9.8	(1)	6.5
Specialty & Casualty | Underwriting location: Europe | Reportable segments
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	162.3	147.5	128.8
Specialty & Casualty | Underwriting location: Canada, the Caribbean, Bermuda and Latin America | Reportable segments
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	118.5	43.9
Specialty & Casualty | Underwriting location: Asia and Other | Reportable segments
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	2.1	2.6	2.1
Runoff & Other | Reportable segments
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	29.6	(0.5)	8.9
Runoff & Other | Client location: United States | Reportable segments
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	29.2	(1.2)	8.1
Runoff & Other | Client location: Canada, the Caribbean, Bermuda and Latin America | Reportable segments
Net premiums written by client location and underwriting location by reportable segment
Net written premiums		0.2	0.2
Runoff & Other | Client location: Asia and Other | Reportable segments
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	0.4	0.5	0.6
Runoff & Other | Underwriting location: United States | Reportable segments
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	29.2	(1.1)	8.3
Runoff & Other | Underwriting location: Asia and Other | Reportable segments
Net premiums written by client location and underwriting location by reportable segment
Net written premiums	$ 0.4	$ 0.6	$ 0.6

Reserves for unpaid losses an_3

Reserves for unpaid losses and loss adjustment expenses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Summary of the loss and LAE reserve activities
Gross beginning balance	$ 1,898.5	$ 1,620.1	$ 1,644.4
Less beginning reinsurance recoverable on unpaid losses	(319.7)	(291.5)	(283.1)
Net loss and LAE reserve balance	1,578.8	1,328.6	1,361.3
Loss and LAE reserves acquired(1)	0.2	14.3	9.8
Losses and LAE incurred relating to:
Current year losses	907.3	811.8	583
Prior years losses	(7.3)	(0.6)	(63.7)
Total net incurred losses and LAE	900	811.2	519.3
Accretion of fair value adjustment to net loss and LAE reserves	0.1	0.1	0.5
Foreign currency translation adjustment to net loss and LAE reserves	(20.9)	36.8	(14)
Loss and LAE paid relating to:
Current year losses	251.4	222.8	207.6
Prior years losses	540.3	389.5	340.7
Total loss and LAE payments	791.7	612.3	548.3
Net ending balance	1,666.5	1,578.8	1,328.6
Plus ending reinsurance recoverable on unpaid losses	350.2	319.7	291.5
Gross ending balance	$ 2,016.7	$ 1,898.5	$ 1,620.1

Reserves for unpaid losses an_4

Reserves for unpaid losses and loss adjustment expenses - By segment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Reserves for unpaid losses and loss adjustment expenses
Unfavorable (favorable) loss reserve development	$ (7.3)	$ (0.6)	$ (63.7)
Increase (decrease) in asbestos claims reserves		59
Asbestos losses	(6.9)	59	13.6
Accretion of fair value adjustment to net loss and LAE reserves	0.1	0.1	0.5
Pre-tax un-accreted adjustment	2.7
Global Property
Reserves for unpaid losses and loss adjustment expenses
Unfavorable (favorable) loss reserve development	43.6		(26.8)
Other property
Reserves for unpaid losses and loss adjustment expenses
Unfavorable (favorable) loss reserve development	34.9
Other property | Natural catastrophes
Reserves for unpaid losses and loss adjustment expenses
Unfavorable (favorable) loss reserve development			(23.4)
Property Catastrophe Excess
Reserves for unpaid losses and loss adjustment expenses
Unfavorable (favorable) loss reserve development	13.2
Hurricanes Harvey, Irma and Maria
Reserves for unpaid losses and loss adjustment expenses
Unfavorable (favorable) loss reserve development	21.4
Global A&H
Reserves for unpaid losses and loss adjustment expenses
Unfavorable (favorable) loss reserve development	(15)
Specialty & Casualty
Reserves for unpaid losses and loss adjustment expenses
Unfavorable (favorable) loss reserve development	(18.3)	(12.1)	(24.8)
Marine
Reserves for unpaid losses and loss adjustment expenses
Unfavorable (favorable) loss reserve development	(6.8)	(5.4)	(7.2)
Trade credit
Reserves for unpaid losses and loss adjustment expenses
Unfavorable (favorable) loss reserve development		(4.2)
Aviation & Space
Reserves for unpaid losses and loss adjustment expenses
Unfavorable (favorable) loss reserve development	(7.9)	(1.7)	$ (11.5)
Contingency
Reserves for unpaid losses and loss adjustment expenses
Unfavorable (favorable) loss reserve development		(0.8)
Runoff & Other
Reserves for unpaid losses and loss adjustment expenses
Unfavorable (favorable) loss reserve development	$ (17.6)
Unfavorable (favorable) other claims loss reserve development		$ (45.7)

Reserves for unpaid losses an_5

Reserves for unpaid losses and loss adjustment expenses - Asbestos and Environmental Loss and Loss Adjustment Expense Reserve Activity (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Reserves for unpaid losses and loss adjustment expenses
Asbestos three year net paid survival ratio	10 years 2 months 12 days	10 years 2 months 12 days
Environmental three year net paid survival ratio	4 years 2 months 12 days	4 years 3 months 18 days
Asbestos, Gross:
Beginning balance, Gross	$ 259.2	$ 187	$ 193.5
Incurred losses and LAE, Gross	(6.9)	96.9	15.3
Paid losses and LAE, Gross	(15.5)	(24.7)	(21.8)
Ending balance, Gross	236.8	259.2	187
Asbestos, Net:
Beginning balance, Net	204.6	166.4	172.9
Incurred losses and LAE, Net	(6.9)	59	13.6
Paid losses and LAE, Net	(13.3)	(20.8)	(20.1)
Ending balance, Net	184.4	204.6	166.4
Environmental Claims, Gross:
Beginning balance, Gross	16.7	18.5	21.5
Incurred losses and LAE, Gross	4	2.9	0.4
Paid losses and LAE, Gross	(4)	(4.7)	(3.4)
Ending balance, Gross	16.7	16.7	18.5
Environmental Claims, Net:
Beginning balance, Net	16	13.9	16.8
Incurred losses and LAE, Net	4	6.1	0.4
Paid losses and LAE, Net	(4.1)	(4)	(3.3)
Ending balance, Net	15.9	16	13.9
Total asbestos and environmental, Gross:
Beginning balance, Gross	275.9	205.5	215
Incurred losses and LAE, Gross	(3)	99.8	15.7
Paid losses and LAE, Gross	(19.5)	(29.4)	(25.2)
Ending balance, Gross	253.4	275.9	205.5
Total asbestos and environmental, Net:
Beginning balance, Net	220.6	180.3	189.7
Incurred losses and LAE, Net	(2.9)	65.1	14
Paid losses and LAE, Net	(17.4)	(24.8)	(23.4)
Ending balance, Net	200.3	220.6	180.3
Net loss reserves by type
Case Reserve	924.5	833.9
IBNR Reserve	742	744.9
Liability for Unpaid Claims and Claims Adjustment Expense, Net, Total	$ 1,666.5	$ 1,578.8	$ 1,328.6	$ 1,361.3

Reserves for unpaid losses an_6

Reserves for unpaid losses and loss adjustment expenses - Reconciliation of liabilities for unpaid loss and LAE (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Reserves for unpaid losses and loss adjustment expenses
Total unpaid loss and LAE reserves, net of reinsurance	$ 1,631
Unallocated LAE	35.5
Liability for Unpaid Claims and Claims Adjustment Expense, Net, Total	1,666.5	$ 1,578.8	$ 1,328.6	$ 1,361.3
Reinsurance recoverable on unpaid losses
Total reinsurance recoverable on unpaid losses	350.2	319.7	291.5	283.1
Total unpaid loss and LAE reserves	2,016.7	$ 1,898.5	$ 1,620.1	$ 1,644.4
Other property
Reserves for unpaid losses and loss adjustment expenses
Total unpaid loss and LAE reserves, net of reinsurance	450.8
Reinsurance recoverable on unpaid losses
Total reinsurance recoverable on unpaid losses	104.6
Property Catastrophe Excess
Reserves for unpaid losses and loss adjustment expenses
Total unpaid loss and LAE reserves, net of reinsurance	245.7
Reinsurance recoverable on unpaid losses
Total reinsurance recoverable on unpaid losses	53.4
Agriculture
Reserves for unpaid losses and loss adjustment expenses
Total unpaid loss and LAE reserves, net of reinsurance	40.9
Reinsurance recoverable on unpaid losses
Total reinsurance recoverable on unpaid losses	0.5
Global Accident & Health
Reserves for unpaid losses and loss adjustment expenses
Total unpaid loss and LAE reserves, net of reinsurance	148.2
Reinsurance recoverable on unpaid losses
Total reinsurance recoverable on unpaid losses	45
Aviation & Space
Reserves for unpaid losses and loss adjustment expenses
Total unpaid loss and LAE reserves, net of reinsurance	86.6
Reinsurance recoverable on unpaid losses
Total reinsurance recoverable on unpaid losses	18.6
Trade credit
Reserves for unpaid losses and loss adjustment expenses
Total unpaid loss and LAE reserves, net of reinsurance	42.1
Reinsurance recoverable on unpaid losses
Total reinsurance recoverable on unpaid losses	10.9
Environmental
Reserves for unpaid losses and loss adjustment expenses
Total unpaid loss and LAE reserves, net of reinsurance	0.4
Reinsurance recoverable on unpaid losses
Total reinsurance recoverable on unpaid losses	0.4
Marine
Reserves for unpaid losses and loss adjustment expenses
Total unpaid loss and LAE reserves, net of reinsurance	58.9
Reinsurance recoverable on unpaid losses
Total reinsurance recoverable on unpaid losses	8.9
Surety
Reserves for unpaid losses and loss adjustment expenses
Total unpaid loss and LAE reserves, net of reinsurance	4.5
Reinsurance recoverable on unpaid losses
Total reinsurance recoverable on unpaid losses	0.5
Contingency
Reserves for unpaid losses and loss adjustment expenses
Total unpaid loss and LAE reserves, net of reinsurance	13.7
Reinsurance recoverable on unpaid losses
Total reinsurance recoverable on unpaid losses	4.9
Casualty
Reserves for unpaid losses and loss adjustment expenses
Total unpaid loss and LAE reserves, net of reinsurance	65.4
Runoff & Other
Reserves for unpaid losses and loss adjustment expenses
Total unpaid loss and LAE reserves, net of reinsurance	473.7
Reinsurance recoverable on unpaid losses
Total reinsurance recoverable on unpaid losses	$ 102.5

Reserves for unpaid losses an_7

Reserves for unpaid losses and loss adjustment expenses - Claim Development (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Other property
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	$ 1,719.7
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	1,273.1
All outstanding liabilities before 2009, net of reinsurance	4.2
Liabilities for loss and allocated loss adjustment expenses, net of reinsurance	450.8
Other property | Accident Year, 2009
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	93.1	$ 92.8	$ 94.6	$ 95.8	$ 93.1	$ 94.1	$ 94.2	$ 98.3	$ 108.7	$ 118.3
Total IBNR liabilities plus expected development on reported claims	0.2
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	90.1	90.9	90.9	90.2	90.5	89.4	85.4	78.7	59.5	22.6
Other property | Accident Year, 2010
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	136.9	137.2	138.8	139.5	140.4	145.3	144.7	153.4	156.1
Total IBNR liabilities plus expected development on reported claims	1.4
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	130.7	130.9	130.8	130.3	128.2	123.3	115.6	88.7	31.2
Other property | Accident Year, 2011
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	131.6	132.8	132.5	131.8	133.7	141.7	150.9	163.5
Total IBNR liabilities plus expected development on reported claims	0.1
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	127.1	127.4	124.7	122.3	116.2	103.3	79.5	26.9
Other property | Accident Year, 2012
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	133.6	133.7	135.7	140.4	144.8	150	163.4
Total IBNR liabilities plus expected development on reported claims	1.6
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	126	125.1	119.8	116.5	108.2	85.4	20.1
Other property | Accident Year, 2013
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	112.2	112.7	113	116.6	127.4	131.2
Total IBNR liabilities plus expected development on reported claims	(0.2)
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	106.6	106	102.7	96.3	72	27.5
Other property | Accident Year, 2014
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	113	115.3	115.1	117.6	115
Total IBNR liabilities plus expected development on reported claims	1
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	106.7	104.5	96.2	69.4	19
Other property | Accident Year, 2015
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	135.5	135.6	133.3	141.2
Total IBNR liabilities plus expected development on reported claims	0.6
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	124.9	115.2	93.7	31
Other property | Accident Year, 2016
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	219.8	215.2	196.2
Total IBNR liabilities plus expected development on reported claims	0.6
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	181.8	128.9	31.5
Other property | Accident Year, 2017
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	370.9	334.2
Total IBNR liabilities plus expected development on reported claims	46.5
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	223.5	58.8
Other property | Accident Year, 2018
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	273.1
Total IBNR liabilities plus expected development on reported claims	97.4
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	55.7
Property Catastrophe Excess
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	808.4
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	565.1
All outstanding liabilities before 2009, net of reinsurance	2.4
Liabilities for loss and allocated loss adjustment expenses, net of reinsurance	245.7
Property Catastrophe Excess | Accident Year, 2009
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	44.9	44.9	44.9	44.8	45.1	45.9	46.7	47.7	49	48.2
Total IBNR liabilities plus expected development on reported claims	(0.1)
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	44.2	44.2	44.2	44.1	44	43.7	42.7	39.8	31.4	7.4
Property Catastrophe Excess | Accident Year, 2010
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	121.3	120.7	121.4	121.9	122.8	130.2	131	133.6	136.1
Total IBNR liabilities plus expected development on reported claims	(0.2)
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	118	117.5	117.5	113.6	111.1	107.6	102.5	90	49.8
Property Catastrophe Excess | Accident Year, 2011
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	116.6	116.6	116.6	117.4	121	142.7	153.2	148.6
Total IBNR liabilities plus expected development on reported claims	0.1
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	116.5	116.4	115.4	115	114.7	95.6	54.1	15.7
Property Catastrophe Excess | Accident Year, 2012
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	46.5	46.3	51.1	50.6	52.6	59.2	70.8
Total IBNR liabilities plus expected development on reported claims	0.5
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	44.5	43.3	41.5	40.5	35.8	26.2	2.8
Property Catastrophe Excess | Accident Year, 2013
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	73.6	73.9	74.7	75.3	78.2	71.6
Total IBNR liabilities plus expected development on reported claims	0
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	69.6	68.4	67.1	62.1	49.4	11.1
Property Catastrophe Excess | Accident Year, 2014
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	54.8	54.9	54.9	57.7	56.2
Total IBNR liabilities plus expected development on reported claims	0.3
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	49.5	47.9	42.3	36.1	9.4
Property Catastrophe Excess | Accident Year, 2015
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	26.2	27.2	29.6	27.6
Total IBNR liabilities plus expected development on reported claims	0
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	20.2	16.9	9.5	1.8
Property Catastrophe Excess | Accident Year, 2016
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	42.8	48.2	50.6
Total IBNR liabilities plus expected development on reported claims	1.8
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	31.9	25.7	10.4
Property Catastrophe Excess | Accident Year, 2017
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	124.4	106.3
Total IBNR liabilities plus expected development on reported claims	20.3
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	67.9	13.3
Property Catastrophe Excess | Accident Year, 2018
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	157.3
Total IBNR liabilities plus expected development on reported claims	60.6
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	2.8
Agriculture
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	235.3
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	194.5
All outstanding liabilities before 2009, net of reinsurance	0.1
Liabilities for loss and allocated loss adjustment expenses, net of reinsurance	40.9
Agriculture | Accident Year, 2009
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	8.6	8.6	8.6	8.6	8.6	8.5	8.7	8.7	10	11.9
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	8.4	8.4	8.4	8.4	8.4	8.4	8.6	8.6	9	2.2
Agriculture | Accident Year, 2010
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	10.7	10.7	10.7	10.7	10.7	10.7	10.9	10.8	12.8
Total IBNR liabilities plus expected development on reported claims	(0.3)
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	10.7	10.7	10.7	10.7	10.6	10.6	10.8	10.7	0.5
Agriculture | Accident Year, 2011
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	21.7	21.7	21.7	21.7	21.7	21.7	21.6	21.5
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	21.6	21.6	21.6	21.6	21.6	21.6	21.3	1
Agriculture | Accident Year, 2012
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	46.9	46.9	46.9	45.7	45.8	45.8	41
Total IBNR liabilities plus expected development on reported claims	(0.3)
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	46.9	46.9	46.9	45.6	45.7	45.4	19
Agriculture | Accident Year, 2013
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	12.8	12.8	13	12.9	10.8	9.1
Total IBNR liabilities plus expected development on reported claims	(0.1)
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	12.8	12.8	13	12.8	10.6	7.1
Agriculture | Accident Year, 2014
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	8.8	8.8	8.4	8.1	9.6
Total IBNR liabilities plus expected development on reported claims	0.2
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	8.9	8.8	8.8	8.1	6.5
Agriculture | Accident Year, 2015
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	9.5	9.5	9.2	7
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	9.3	9	7.8	1.5
Agriculture | Accident Year, 2016
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	29.9	30.8	33.5
Total IBNR liabilities plus expected development on reported claims	0.2
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	29.6	28.1	10.1
Agriculture | Accident Year, 2017
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	47	50.5
Total IBNR liabilities plus expected development on reported claims	2.5
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	43.7	9.2
Agriculture | Accident Year, 2018
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	39.4
Total IBNR liabilities plus expected development on reported claims	33.8
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	2.6
Global Accident & Health
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	1,467.6
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	1,322.9
All outstanding liabilities before 2009, net of reinsurance	3.5
Liabilities for loss and allocated loss adjustment expenses, net of reinsurance	148.2
Global Accident & Health | Accident Year, 2009
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	79	79	79	78.9	79	78.9	79.2	81.3	84.3	86.6
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	78.8	78.8	78.8	78.7	78.6	78.5	77.7	76.1	67.7	27.7
Global Accident & Health | Accident Year, 2010
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	121.6	121.7	121.8	121.8	121.8	122.1	122.9	125.4	118.4
Total IBNR liabilities plus expected development on reported claims	(0.1)
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	121.9	121.9	121.9	121.8	121.7	121.4	119.2	102.2	53.1
Global Accident & Health | Accident Year, 2011
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	171.4	171.5	171.6	171.7	171.7	172.3	176.7	161.3
Total IBNR liabilities plus expected development on reported claims	0.1
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	171.6	171.6	171.6	171.5	171.1	166.1	139.2	71.2
Global Accident & Health | Accident Year, 2012
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	146.6	146.7	146.8	147.1	147.8	160.1	163.4
Total IBNR liabilities plus expected development on reported claims	(0.1)
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	146.6	146.6	146.6	146.4	146	136	72.1
Global Accident & Health | Accident Year, 2013
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	116.8	117.6	118.2	118.7	123.2	125.6
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	116.2	116.7	115.5	114.1	103.6	54.4
Global Accident & Health | Accident Year, 2014
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	129.6	130.6	130.6	132.2	131.1
Total IBNR liabilities plus expected development on reported claims	0.2
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	126.6	126.6	124.8	111.3	59.3
Global Accident & Health | Accident Year, 2015
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	144.8	146.1	149.5	153.5
Total IBNR liabilities plus expected development on reported claims	0.7
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	143.4	141.8	130.3	75.7
Global Accident & Health | Accident Year, 2016
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	186.7	190.9	176.7
Total IBNR liabilities plus expected development on reported claims	5
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	143.7	131.9	97.7
Global Accident & Health | Accident Year, 2017
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	168.3	176.4
Total IBNR liabilities plus expected development on reported claims	13.2
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	146	95.7
Global Accident & Health | Accident Year, 2018
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	202.8
Total IBNR liabilities plus expected development on reported claims	52.3
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	128.1
Aviation & Space
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	373.3
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	296.1
All outstanding liabilities before 2009, net of reinsurance	9.4
Liabilities for loss and allocated loss adjustment expenses, net of reinsurance	86.6
Aviation & Space | Accident Year, 2009
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	35.8	31.9	31.9	34.2	35.1	35.3	36.9	35	34	30.9
Total IBNR liabilities plus expected development on reported claims	0.2
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	35.9	32	31.2	31.7	28.5	27.6	26.4	21.4	16.6	7.9
Aviation & Space | Accident Year, 2010
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	41.9	41.6	42.1	42.3	43.2	44.7	47.2	47.5	42.5
Total IBNR liabilities plus expected development on reported claims	(0.5)
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	41	39.9	39.7	38.8	37.8	36.2	31.5	22.1	12
Aviation & Space | Accident Year, 2011
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	35.1	35.8	34.5	34.7	35.9	37.9	42.3	46.9
Total IBNR liabilities plus expected development on reported claims	(0.2)
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	34.7	34.8	34.1	32.7	31.5	28.6	22.7	10.2
Aviation & Space | Accident Year, 2012
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	29.6	29.5	28.4	28.2	30.2	34.3	35.6
Total IBNR liabilities plus expected development on reported claims	(0.2)
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	28.7	28.2	27.3	24.6	22.6	18.4	7.6
Aviation & Space | Accident Year, 2013
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	33	32.9	32	33.4	36.4	40.6
Total IBNR liabilities plus expected development on reported claims	(0.1)
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	29.2	28.5	26.7	24	19.9	13.5
Aviation & Space | Accident Year, 2014
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	34.3	34.2	35	38.2	35.7
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	28.2	26.2	23.6	17.9	8
Aviation & Space | Accident Year, 2015
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	39	40	35.9	39.5
Total IBNR liabilities plus expected development on reported claims	0.1
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	33.5	27.1	21.1	10.5
Aviation & Space | Accident Year, 2016
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	33.6	32.6	32.1
Total IBNR liabilities plus expected development on reported claims	1.3
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	26.9	19.7	7.8
Aviation & Space | Accident Year, 2017
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	43	34
Total IBNR liabilities plus expected development on reported claims	5.9
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	23.7	9
Aviation & Space | Accident Year, 2018
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	48
Total IBNR liabilities plus expected development on reported claims	19.8
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	14.3
Trade credit
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	202.7
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	165.1
All outstanding liabilities before 2009, net of reinsurance	4.5
Liabilities for loss and allocated loss adjustment expenses, net of reinsurance	42.1
Trade credit | Accident Year, 2009
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	10.1	9.4	9.3	9.3	9.4	9.4	9.7	9.8	10	9.4
Total IBNR liabilities plus expected development on reported claims	(0.1)
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	10	9.1	9.1	9.1	9	8.9	8.8	8.5	7.7	3.4
Trade credit | Accident Year, 2010
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	9.8	9.8	9.6	9.7	9.8	9.7	9.6	12.3	14.1
Total IBNR liabilities plus expected development on reported claims	(0.3)
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	9.5	9.4	9.3	9.1	9	8.6	7.7	5.2	1.8
Trade credit | Accident Year, 2011
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	26.3	26.5	26.5	27.1	27.1	27.4	29	29.2
Total IBNR liabilities plus expected development on reported claims	(0.2)
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	25.8	25.7	26	25.7	24.8	23.5	17.5	6.5
Trade credit | Accident Year, 2012
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	32	32.4	32.4	32.8	32.5	34.3	34.5
Total IBNR liabilities plus expected development on reported claims	(0.3)
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	31.9	31.9	32.1	31.8	31	26.8	14.7
Trade credit | Accident Year, 2013
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	27.4	27.9	27.3	27.5	28.4	29.5
Total IBNR liabilities plus expected development on reported claims	0.2
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	24.5	24.4	24	22.8	19.8	11.6
Trade credit | Accident Year, 2014
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	21.1	21.4	23.5	22.7	22.8
Total IBNR liabilities plus expected development on reported claims	0.3
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	19.7	19.2	17.7	13.7	7.8
Trade credit | Accident Year, 2015
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	18.4	19.2	19.7	20.2
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	16.6	15.7	12.2	4.5
Trade credit | Accident Year, 2016
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	12.5	13.2	15.3
Total IBNR liabilities plus expected development on reported claims	0.6
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	10.6	8.9	4.6
Trade credit | Accident Year, 2017
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	20.1	19.2
Total IBNR liabilities plus expected development on reported claims	6.2
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	8.8	3
Trade credit | Accident Year, 2018
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	25
Total IBNR liabilities plus expected development on reported claims	13.3
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	7.7
Environmental
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	0.4
Liabilities for loss and allocated loss adjustment expenses, net of reinsurance	0.4
Environmental | Accident Year, 2018
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	0.4
Total IBNR liabilities plus expected development on reported claims	0.4
Marine
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	274.4
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	215.9
All outstanding liabilities before 2009, net of reinsurance	0.4
Liabilities for loss and allocated loss adjustment expenses, net of reinsurance	58.9
Marine | Accident Year, 2009
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	24	24.1	23.8	24.2	24.1	24	24.4	24.8	25.8	27.9
Total IBNR liabilities plus expected development on reported claims	(0.1)
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	23.2	23.1	23	22.8	22.6	21.7	19.8	17.5	12.5	3.6
Marine | Accident Year, 2010
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	31.1	31.3	31.6	32.9	33.3	32.4	32.7	35.1	32.3
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	28.7	28.5	27.5	26.7	21.3	19.5	17.1	12.2	5
Marine | Accident Year, 2011
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	31.5	31.6	31.5	32.1	31.1	30.6	32.8	36.6
Total IBNR liabilities plus expected development on reported claims	(0.3)
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	29.6	29.1	28.7	27.9	25.1	21.6	14.3	4.3
Marine | Accident Year, 2012
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	36.3	36.8	37.9	37.5	36.1	33.4	27.3
Total IBNR liabilities plus expected development on reported claims	1.2
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	32.6	31	29.1	27.1	24.2	14.7	5.2
Marine | Accident Year, 2013
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	18	18.1	18.3	19.3	20.5	23.3
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	14.9	14.4	14	12.6	9.3	2.8
Marine | Accident Year, 2014
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	17.9	18.2	19.5	21.6	23.3
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	15.8	15	13.7	10.3	4.1
Marine | Accident Year, 2015
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	28.8	29.2	31.5	29.5
Total IBNR liabilities plus expected development on reported claims	0.1
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	26.2	21.8	11.8	4.3
Marine | Accident Year, 2016
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	28.4	29.2	28.3
Total IBNR liabilities plus expected development on reported claims	1.1
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	21.4	17.5	6.8
Marine | Accident Year, 2017
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	35.1	37.5
Total IBNR liabilities plus expected development on reported claims	6.3
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	18.2	7.2
Marine | Accident Year, 2018
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	23.3
Total IBNR liabilities plus expected development on reported claims	9.3
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	5.3
Surety
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	5.4
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	2.7
All outstanding liabilities before 2009, net of reinsurance	1.8
Liabilities for loss and allocated loss adjustment expenses, net of reinsurance	4.5
Surety | Accident Year, 2010
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	0.1	0.1	0.3	0.3	0.4	0.4	0.2	0.1	0.1
Total IBNR liabilities plus expected development on reported claims	0.1
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.1
Surety | Accident Year, 2011
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	0.2	0.2	0.4	0.4	0.6	0.6	0.5	0.3
Total IBNR liabilities plus expected development on reported claims	0.2
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	0.2	0.2	0.2	0.2	0.2	0.2	0.2	0.1
Surety | Accident Year, 2012
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	0.3	0.3	0.4	0.4	0.6	0.6	0.5
Total IBNR liabilities plus expected development on reported claims	0.3
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	0.2	0.2	0.2	0.2	0.1	0.1	0.1
Surety | Accident Year, 2013
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	0.9	0.7	0.5	0.7	0.9	1
Total IBNR liabilities plus expected development on reported claims	0.7
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	0.6	0.5	0.3	0.2	0.1	0.1
Surety | Accident Year, 2014
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	1.3	1.1	1	1.1	1.2
Total IBNR liabilities plus expected development on reported claims	1.1
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	0.9	0.7	0.4	0.2
Surety | Accident Year, 2015
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	0.8	1	1.2	1
Total IBNR liabilities plus expected development on reported claims	0.8
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	0.4	0.3	0.2	0.1
Surety | Accident Year, 2016
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	0.5
Total IBNR liabilities plus expected development on reported claims	0.4
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	0.3
Surety | Accident Year, 2017
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	0.4	0.6
Total IBNR liabilities plus expected development on reported claims	0.3
Surety | Accident Year, 2018
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	0.9
Total IBNR liabilities plus expected development on reported claims	0.9
Contingency
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	79.8
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	66
All outstanding liabilities before 2009, net of reinsurance	(0.1)
Liabilities for loss and allocated loss adjustment expenses, net of reinsurance	13.7
Contingency | Accident Year, 2009
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	6.3	6.4	6.3	6.3	6.2	6.2	6.2	6.3	6.4	6.9
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	6.4	6.3	6.2	6.2	6.2	6.1	6.1	6.1	5.9	4.9
Contingency | Accident Year, 2010
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	4.2	4.1	4.1	4.1	4.3	4.4	4.5	6	5.6
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	4.1	4.1	4.1	4.1	3.9	3.5	3.5	3.4	1.9
Contingency | Accident Year, 2011
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	6.6	6.6	6.6	6.5	6.5	6.6	7.1	7.8
Total IBNR liabilities plus expected development on reported claims	0.1
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	6.5	6.5	6.5	6.4	6.4	6.4	5.7	2.1
Contingency | Accident Year, 2012
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	8	8	8.2	8.4	8.6	8.5	9.5
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	8	8	8.2	8.4	8.4	7.1	5.2
Contingency | Accident Year, 2013
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	3.5	3.5	3.5	3.6	4.2	5.4
Total IBNR liabilities plus expected development on reported claims	0.1
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	3.3	3.3	3.3	3.2	3	1.8
Contingency | Accident Year, 2014
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	4.7	4.7	5.2	7	4.2
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	4.5	4.5	4.4	3.7	1.6
Contingency | Accident Year, 2015
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	8.9	9	9.7	10
Total IBNR liabilities plus expected development on reported claims	0.1
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	7.8	7.8	7.2	2.8
Contingency | Accident Year, 2016
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	17.4	18.4	18
Total IBNR liabilities plus expected development on reported claims	0.3
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	16.4	15.6	12.1
Contingency | Accident Year, 2017
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	10.7	9.8
Total IBNR liabilities plus expected development on reported claims	1.2
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	7.1	3
Contingency | Accident Year, 2018
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	9.5
Total IBNR liabilities plus expected development on reported claims	4.2
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	1.9
Casualty
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	66.3
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	4.9
All outstanding liabilities before 2009, net of reinsurance	4
Liabilities for loss and allocated loss adjustment expenses, net of reinsurance	65.4
Casualty | Accident Year, 2009
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	0.2	0.2	0.2	0.3	0.4	0.5	0.6	0.7	0.8	0.9
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	0.2	0.2	0.2	0.2	0.1	0.1	0.1	0.1	0.1	0.1
Casualty | Accident Year, 2010
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	0.5	0.6	0.6	0.9	1.1	1.4	1.6	1.5	1.7
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	0.4	0.4	0.3	0.4	0.2	0.1	0.1
Casualty | Accident Year, 2011
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	0.2	0.2	0.2	0.3	0.3	0.4	0.4	0.5
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	0.2	0.2	0.2	0.2	0.1	0.1
Casualty | Accident Year, 2012
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	0.5	0.5	0.5	0.5	0.4	0.2	0.2
Total IBNR liabilities plus expected development on reported claims	0.1
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	0.2	0.2	0.1	0.2	0.1
Casualty | Accident Year, 2013
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	0.5	0.5	0.4	0.4	0.4	0.4
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	0.4	0.4	0.3	0.2	0.1	0.1
Casualty | Accident Year, 2014
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	0.5	0.5	0.5	0.4	0.4
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	0.4	0.4	0.4	0.2	0.1
Casualty | Accident Year, 2015
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	0.5	0.6	0.8	0.5
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	0.4	0.4	0.4	0.2
Casualty | Accident Year, 2016
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	0.3	0.3	0.2
Total IBNR liabilities plus expected development on reported claims	0.1
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	0.1	0.1
Casualty | Accident Year, 2017
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	9.7	9.7
Total IBNR liabilities plus expected development on reported claims	6.8
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	0.6
Casualty | Accident Year, 2018
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	53.4
Total IBNR liabilities plus expected development on reported claims	44.6
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	2
Runoff & Other
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	1,281.6
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	1,230.1
All outstanding liabilities before 2009, net of reinsurance	422.2
Liabilities for loss and allocated loss adjustment expenses, net of reinsurance	473.7
Runoff & Other | Accident Year, 2009
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	512.2	511.9	512.7	511.6	510.7	510	509.6	510	520.5	527
Total IBNR liabilities plus expected development on reported claims	7.9
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	499.6	498.9	496.5	495.1	492.1	488.3	483.8	480.3	402.5	$ 289.1
Runoff & Other | Accident Year, 2010
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	394.1	394.8	394.8	393.8	392.3	391.1	390.6	390.4	389.1
Total IBNR liabilities plus expected development on reported claims	3.8
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	388.1	387.4	385.5	383.6	380	376.8	372.7	370.4	$ 225.7
Runoff & Other | Accident Year, 2011
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	309.8	310.3	310.8	309.9	309.4	308.7	307.6	306.4
Total IBNR liabilities plus expected development on reported claims	5.5
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	303.6	303.1	301.6	299.5	297.8	296.1	293.8	$ 291.8
Runoff & Other | Accident Year, 2012
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	3.9	4.1	4.1	4.2	4.1	4	3.6
Total IBNR liabilities plus expected development on reported claims	1.3
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	2.5	2.4	2.4	2.2	1.8	1.3	$ 0.3
Runoff & Other | Accident Year, 2013
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	0.2	0.1	0.2	0.2	0.2	1.2
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	0.1	0.1	0.1	0.1	0.1	$ 0.7
Runoff & Other | Accident Year, 2014
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	0.5	0.4	0.3	0.2	$ 0.2
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	0.3	0.2	0.1
Runoff & Other | Accident Year, 2015
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	18	17.5	15.7	9.5
Total IBNR liabilities plus expected development on reported claims	0.6
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	16.6	15.3	10	$ 5.2
Runoff & Other | Accident Year, 2016
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	11.7	12.1	11.8
Total IBNR liabilities plus expected development on reported claims	0.6
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	10.9	10.1	$ 6.2
Runoff & Other | Accident Year, 2017
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	0.9	0.6
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	0.5	$ 0.4
Runoff & Other | Accident Year, 2018
Reserves for unpaid losses and loss adjustment expenses
Incurred losses and allocated loss adjustment expenses, net of reinsurance	30.3
Total IBNR liabilities plus expected development on reported claims	6.6
Cumulative paid losses and allocated loss adjustment expenses, net of reinsurance	$ 7.9

Reserves for unpaid losses an_8

Reserves for unpaid losses and loss adjustment expenses - Average Annual Percentage Payout of Incurred Losses and Allocated LAE by Age, Net of Reinsurance (Details)	Dec. 31, 2018
Other property
Average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance
Year 1	18.90%
Year 2	43.70%
Year 3	20.30%
Year 4	7.00%
Year 5	3.30%
Year 6	1.90%
Year 7	0.70%
Year 8	0.10%
Year 9	(0.10%)
Year 10	(0.90%)
Property Catastrophe Excess
Average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance
Year 1	15.40%
Year 2	41.30%
Year 3	19.80%
Year 4	9.40%
Year 5	1.90%
Year 6	1.60%
Year 7	1.90%
Year 8	0.10%
Year 9	0.30%
Year 10	0.00%
Agriculture
Average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance
Year 1	25.40%
Year 2	65.20%
Year 3	3.80%
Year 4	0.30%
Year 5	0.90%
Year 6	0.10%
Year 7	0.00%
Year 8	0.00%
Year 9	0.00%
Year 10	0.00%
Global Accident & Health
Average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance
Year 1	50.10%
Year 2	36.50%
Year 3	10.00%
Year 4	1.50%
Year 5	0.40%
Year 6	0.00%
Year 7	0.00%
Year 8	0.00%
Year 9	0.00%
Year 10	0.00%
Aviation & Space
Average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance
Year 1	27.00%
Year 2	29.40%
Year 3	16.80%
Year 4	10.50%
Year 5	5.00%
Year 6	2.80%
Year 7	3.70%
Year 8	(0.40%)
Year 9	2.40%
Year 10	10.90%
Trade credit
Average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance
Year 1	32.30%
Year 2	35.30%
Year 3	16.40%
Year 4	4.60%
Year 5	2.10%
Year 6	0.40%
Year 7	0.00%
Year 8	0.30%
Year 9	1.00%
Year 10	8.20%
Environmental
Average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance
Year 1	0.90%
Year 2	0.00%
Year 3	0.00%
Year 4	0.00%
Year 5	0.00%
Year 6	0.00%
Year 7	0.00%
Year 8	0.00%
Year 9	0.00%
Year 10	0.00%
Marine
Average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance
Year 1	17.80%
Year 2	30.70%
Year 3	22.00%
Year 4	9.70%
Year 5	6.10%
Year 6	6.70%
Year 7	2.40%
Year 8	1.90%
Year 9	0.60%
Year 10	0.40%
Surety
Average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance
Year 1	8.50%
Year 2	9.40%
Year 3	17.70%
Year 4	15.20%
Year 5	14.60%
Year 6	11.60%
Year 7	3.50%
Year 8	0.90%
Year 9	1.70%
Year 10	0.00%
Contingency
Average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance
Year 1	46.70%
Year 2	33.00%
Year 3	8.00%
Year 4	0.40%
Year 5	0.80%
Year 6	0.00%
Year 7	0.40%
Year 8	0.50%
Year 9	1.30%
Year 10	0.60%
Casualty
Average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance
Year 1	3.70%
Year 2	9.70%
Year 3	14.40%
Year 4	10.80%
Year 5	8.10%
Year 6	11.90%
Year 7	3.40%
Year 8	3.40%
Year 9	3.00%
Year 10	2.80%
Runoff & Other
Average annual percentage payout of incurred losses and allocated LAE by age, net of reinsurance
Year 1	64.50%
Year 2	21.50%
Year 3	7.10%
Year 4	0.90%
Year 5	0.80%
Year 6	0.80%
Year 7	0.50%
Year 8	0.30%
Year 9	0.30%
Year 10	0.10%

Third party reinsurance - The e

Third party reinsurance - The effects of reinsurance (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Written premiums:
Direct	$ 454.5	$ 450.2	$ 368.5
Assumed	1,366.5	989.1	900.5
Gross written premiums	1,821	1,439.3	1,269
Ceded	(463.9)	(349.1)	(330.9)
Net written premiums	1,357.1	1,090.2	938.1
Earned premiums:
Direct	432.6	405.7	351.6
Assumed	1,236.2	942.2	877.7
Gross earned premiums	1,668.8	1,347.9	1,229.3
Ceded	(406.5)	(312.6)	(339.2)
Net earned premiums	1,262.3	1,035.3	890.1
Losses and LAE:
Direct	260.5	294.9	216.9
Assumed	819.1	701.3	463.8
Gross losses and LAE	1,079.6	996.2	680.7
Ceded	(179.6)	(185)	(161.4)
Net losses and LAE	$ 900	$ 811.2	$ 519.3
Excess of loss retrocessional coverage | Earthquake related property liability and casualty insurance
Losses and LAE:
Renewal term	1 year
Reinsurance protection in excess of retention	$ 40
Retention amount	35
Further reinsurance protection in excess of retention	35
Further retention amount	$ 75

Third party reinsurance- Indust

Third party reinsurance- Industry loss warranty contracts (Details) $ in Millions	Jan. 01, 2019USD ($)	Dec. 31, 2018USD ($)item	Jun. 30, 2018USD ($)
Industry loss warranty contract
Third party reinsurance
Number of loss events covered | item		1
Industry loss warranty contract | United States excluding North East | All natural perils
Third party reinsurance
Limit		$ 5
Trigger		40,000
Industry loss warranty contract | Europe | Wind
Third party reinsurance
Limit		5
Trigger		$ 7,500
Excess of loss reinsurance coverage
Third party reinsurance
Cost coverage of original insurance premium (as a percent)		100.00%
Excess of loss reinsurance coverage | Business written by Syndicate 1945
Third party reinsurance
Reinsurance protection in excess of retention			$ 10
Retention amount			$ 5
Term of placement (in months)			12 months
Excess of loss reinsurance coverage | Catastrophe losses | Business written by Syndicate 1945
Third party reinsurance
Reinsurance protection in excess of retention		$ 12
Retention amount		$ 3
Term of placement (in months)		12 months
Reinsurance protection in excess of retention (as a percent)		50.00%
Excess of loss reinsurance coverage | Business written in Stockholm, Hamburg and Singapore
Third party reinsurance
Reinsurance protection in excess of retention	$ 32.5
Retention amount	$ 2.5

Third party reinsurance- CMIG I

Third party reinsurance- CMIG International acquisition (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2018	Dec. 31, 2017
Third party reinsurance
Reinsurance recoverable on paid losses		$ 55	$ 17.5
Reinsurance recoverable on unpaid losses		$ 350.2	$ 319.7
CMIG International
Third party reinsurance
Paid-in surplus	$ 16.5
United States first event with limit of $75 million | CMIG International
Third party reinsurance
Limit	75
Industry Loss Trigger	40,000
United States first event with limit of $22.5 Million | CMIG International
Third party reinsurance
Limit	22.5
Industry Loss Trigger	50,000
United States second event | CMIG International
Third party reinsurance
Limit	45
Industry Loss Trigger	15,000
United States second event expire on July 15, 2016 | CMIG International
Third party reinsurance
Limit	5
Japan first event | CMIG International
Third party reinsurance
Limit	25
Industry Loss Trigger	$ 12,500

Third party reinsurance- Gross

Third party reinsurance- Gross and net recoverable amounts (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Third party reinsurance
Gross	$ 405.2	$ 337.2
Collateral	83.4	65.3
Net	$ 321.8	$ 271.9
Percentage of Net Total	100.00%	100.00%
AA
Third party reinsurance
Gross	$ 115.1	$ 116.9
Collateral	1.5	1
Net	$ 113.6	$ 115.9
Percentage of Net Total	35.00%	43.00%
A
Third party reinsurance
Gross	$ 212.9	$ 153.9
Collateral	45.4	27.9
Net	$ 167.5	$ 126
Percentage of Net Total	52.00%	46.00%
BBB+
Third party reinsurance
Percentage of Net Total	0.00%	0.00%
BBB or lower
Third party reinsurance
Gross	$ 19.5	$ 13.4
Collateral	13.3	12.5
Net	$ 6.2	$ 0.9
Percentage of Net Total	2.00%	1.00%
Not rated
Third party reinsurance
Gross	$ 57.7	$ 53
Collateral	23.2	23.9
Net	$ 34.5	$ 29.1
Percentage of Net Total	11.00%	10.00%

Third party reinsurance - Highe

Third party reinsurance - Highest gross recoverable amounts by reinsurer (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Third party reinsurance
Gross recoverable balance	$ 405.2	$ 337.2
AA
Third party reinsurance
Gross recoverable balance	115.1	116.9
A
Third party reinsurance
Gross recoverable balance	212.9	153.9
Not rated
Third party reinsurance
Gross recoverable balance	57.7	53
General Insurance Corporation of India (1) | A-
Third party reinsurance
Gross recoverable balance	$ 82.7	$ 17.3
Percentage of Total	20.00%	5.00%
Percentage Collateralized	97.00%	11.00%
Swiss Reinsurance Company Ltd | AA-
Third party reinsurance
Gross recoverable balance	$ 44.1	$ 45.5
Percentage of Total	11.00%	13.00%
Percentage Collateralized	0.00%	0.00%
Berkshire Hathaway, Inc | AA+
Third party reinsurance
Gross recoverable balance	$ 39.3	$ 41.1
Percentage of Total	10.00%	12.00%
Percentage Collateralized	1.00%	0.00%
Argo Capital Group Ltd | A-
Third party reinsurance
Gross recoverable balance	$ 16.7	$ 18.2
Percentage of Total	4.00%	5.00%
Percentage Collateralized	87.00%	78.00%
Lloyd's of London | A+
Third party reinsurance
Gross recoverable balance	$ 13.4	$ 19.4
Percentage of Total	3.00%	6.00%
Percentage Collateralized	5.00%	16.00%

Deferred acquisition costs (Det

Deferred acquisition costs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Deferred Policy Acquisition Costs, Beginning Balance	$ 120.9	$ 84.7	$ 74.6
Acquisition costs deferred	202.6	220.7	137.7
Amortization expense	(180.4)	(186.7)	(126.7)
Other, including foreign exchange	(1.5)	2.2	(0.9)
Deferred Policy Acquisition Costs, Ending Balance	$ 141.6	120.9	$ 84.7
IMG
Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward]
Acquisition costs deferred		$ 2.9

Investment securities - Net Inv

Investment securities - Net Investment Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Net Investment Income
Interest on funds held under reinsurance treaties	$ (0.5)		$ (0.5)
Total investment income	82.7	$ 66.6	67.4
Investment expenses	(11.3)	(9.8)	(11.2)
Net investment income	71.4	56.8	56.2
Fixed maturity investments
Net Investment Income
Total investment income	53.2	51.5	58
Short-term investments
Net Investment Income
Total investment income	5.1	1.5	0.9
Equity securities
Net Investment Income
Total investment income	16.5	5.1	4.1
Other long-term investments
Net Investment Income
Total investment income	$ 8.4	$ 8.5	$ 4.9

Investment securities - Net Rea

Investment securities - Net Realized and Unrealized Investment (Losses) Gains (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Net Realized and Unrealized Investment (Losses) Gains
Gross realized gains	$ 42.3	$ 24.4	$ 310.8
Gross realized (losses)	(40)	(51.6)	(22.5)
Net realized gains (losses) on investments(1)(2)	2.3	(27.2)	288.3
Net unrealized investment gains (losses)	(23.2)	(10.5)	(238.2)
Net realized and unrealized investment (losses) gains on investments	(20.9)	(37.7)	50.1
Realized gains (losses) due to foreign currency	17.3	(19.1)	50
Unrealized gains (losses) due to foreign currency	35.7	(51.7)	(7.7)
Total unrealized investment (losses) gains - Level 3 investments	(2.1)	(0.7)	1.1
Symetra
Net Realized and Unrealized Investment (Losses) Gains
Net realized gains (losses) on investments(1)(2)			222.5
Fixed maturity investments
Net Realized and Unrealized Investment (Losses) Gains
Net realized gains (losses) on investments(1)(2)	3.6	(19.1)	57.4
Net unrealized investment gains (losses)	14.1	(41.3)	(25)
Total unrealized investment (losses) gains - Level 3 investments	(6.1)	(0.2)	(0.1)
Equity securities
Net Realized and Unrealized Investment (Losses) Gains
Net realized gains (losses) on investments(1)(2)	(6.4)	0.1	231.9
Net unrealized investment gains (losses)	(51.1)	25.2	(214.5)
Total unrealized investment (losses) gains - Level 3 investments		0.1
Other long-term investments
Net Realized and Unrealized Investment (Losses) Gains
Net realized gains (losses) on investments(1)(2)	5.1	(8.2)	(1)
Net unrealized investment gains (losses)	13.8	5.6	1.3
Total unrealized investment (losses) gains - Level 3 investments	$ 4	$ (0.6)	$ 1.2

Investment securities - Fixed m

Investment securities - Fixed maturity investments (Details) - Fixed maturity investments - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Fixed maturity investments
Cost or amortized cost	$ 1,952.9	$ 2,195.3
Gross unrealized gains	4.3	4.8
Gross unrealized losses	(28.4)	(16.3)
Net foreign currency gains (losses)	20.4	(3.8)
Fair value	$ 1,949.2	2,180
Weighted average duration of fixed income portfolio including short-term investments	1 year 8 months 12 days
Weighted average duration of fixed income portfolio excluding short-term investments	2 years 2 months 12 days
Cost or amortized cost
Cost or amortized cost due in one year or less	$ 249.6	106.3
Cost or amortized cost due after one year through five years	635.6	1,009
Cost or amortized cost due after five years through ten years	26.2	71.2
Cost or amortized cost due after ten years	0.1	26.9
Fair Value
Fair value due in one year or less	254.6	106.5
Fair value due after one year through five years	636.4	1,006.4
Fair value due after five years through ten years	25.7	70.8
Fair value due after ten years	0.1	26.6
AAA
Fixed maturity investments
Fair value	602	689.4
AA
Fixed maturity investments
Fair value	818	635.2
A
Fixed maturity investments
Fair value	290.5	416.4
BBB
Fixed maturity investments
Fair value	167.4	333.8
Other
Fixed maturity investments
Fair value	71.3	105.2
Corporate debt securities
Fixed maturity investments
Cost or amortized cost	694.1	1,017
Gross unrealized gains	1.4	3.1
Gross unrealized losses	(7.3)	(4.8)
Net foreign currency gains (losses)	7.6	(0.8)
Fair value	695.8	1,014.5
Asset-backed securities
Fixed maturity investments
Cost or amortized cost	496.3	478.1
Gross unrealized gains	0.1	0.4
Gross unrealized losses	(3.8)	(0.6)
Net foreign currency gains (losses)	1.9	(2.5)
Fair value	494.5	475.4
Residential mortgage-backed securities
Fixed maturity investments
Cost or amortized cost	413	300.7
Gross unrealized gains	1.7	0.1
Gross unrealized losses	(7.1)	(5.6)
Net foreign currency gains (losses)	5.9	(1.7)
Fair value	413.5	293.5
Cost or amortized cost increase (decrease) on reclassification within subcategories		41.4
Fair value increase (decrease) on reclassification within subcategories		41.4
Gross unrealized losses increase (decrease) on reclassification within subcategories		0.3
Net foreign currency gains (losses) increase (decrease) on reclassification within subcategories		0.3
Commercial mortgage-backed securities
Fixed maturity investments
Cost or amortized cost	117.7	193.8
Gross unrealized gains	0.2	0.8
Gross unrealized losses	(2.7)	(3.6)
Net foreign currency gains (losses)	0.7
Fair value	115.9	191
Cost or amortized cost increase (decrease) on reclassification within subcategories		(41.4)
Fair value increase (decrease) on reclassification within subcategories		(41.4)
Gross unrealized losses increase (decrease) on reclassification within subcategories		(0.3)
Net foreign currency gains (losses) increase (decrease) on reclassification within subcategories		(0.3)
Non-U.S. government and government agency
Fixed maturity investments
Cost or amortized cost	50.6	106.8
Gross unrealized gains		0.1
Gross unrealized losses	(0.2)	(0.9)
Net foreign currency gains (losses)	(0.1)	1.2
Fair value	50.3	107.2
U.S. government and government agency
Fixed maturity investments
Cost or amortized cost	163.9	85.8
Gross unrealized gains	0.3
Gross unrealized losses	(0.5)	(0.8)
Net foreign currency gains (losses)	4.2	(0.2)
Fair value	167.9	84.8
Preferred stocks
Fixed maturity investments
Cost or amortized cost	14.5	9.3
Gross unrealized gains	0.6	0.3
Gross unrealized losses	(6.8)
Net foreign currency gains (losses)	0.2	0.2
Fair value	8.5	9.8
Cost or amortized cost
Cost or amortized cost without single maturity date	14.5	9.3
Fair Value
Fair value without single maturity date	8.5	9.8
U.S. States, municipalities, and political subdivision
Fixed maturity investments
Cost or amortized cost	2.8	3.8
Fair value	2.8	3.8
Estate, Equity and Other
Cost or amortized cost
Cost or amortized cost without single maturity date	1,026.9	972.6
Fair Value
Fair value without single maturity date	1,023.9	959.9
Sub-prime securities
Fixed maturity investments
Fair value	42.6	93
Sub-prime securities | AAA
Fixed maturity investments
Fair value	17.1	53
Sub-prime securities | AA
Fixed maturity investments
Fair value	9.8	25.7
Sub-prime securities | A
Fixed maturity investments
Fair value	6	1.3
Sub-prime securities | BBB
Fixed maturity investments
Fair value	4.7	8.4
Sub-prime securities | Other
Fixed maturity investments
Fair value	$ 5	$ 4.6

Investment securities - Mortgag

Investment securities - Mortgage-backed, Asset-backed Securities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018
Estate, Equity and Other | Level 2
Total mortgage and asset backed securities held at fair value
Total mortgage and asset-backed securities held at fair value	$ 959.9	$ 1,023.9
Mortgage-backed securities | Level 2
Total mortgage and asset backed securities held at fair value
Total mortgage and asset-backed securities held at fair value	484.5	529.4
Agency
Total mortgage and asset backed securities held at fair value
Fair value increase (decrease) due to misclassification	39.7
Agency | Level 2
Total mortgage and asset backed securities held at fair value
Total mortgage and asset-backed securities held at fair value	279	411.3
Federal national mortgage association | Level 2
Total mortgage and asset backed securities held at fair value
Total mortgage and asset-backed securities held at fair value	159.8	185
Federal home loan mortgage corporation | Level 2
Total mortgage and asset backed securities held at fair value
Total mortgage and asset-backed securities held at fair value	62	166.9
Government national mortgage association | Level 2
Total mortgage and asset backed securities held at fair value
Total mortgage and asset-backed securities held at fair value	57.2	59.4
Non-agency
Total mortgage and asset backed securities held at fair value
Fair value increase (decrease) due to misclassification	(39.7)
Non-agency | Level 2
Total mortgage and asset backed securities held at fair value
Total mortgage and asset-backed securities held at fair value	205.5	118.1
Residential mortgage-backed securities | Level 2
Total mortgage and asset backed securities held at fair value
Total mortgage and asset-backed securities held at fair value	57.2	32.6
Commercial mortgage-backed securities | Level 2
Total mortgage and asset backed securities held at fair value
Total mortgage and asset-backed securities held at fair value	148.3	85.5
Asset-backed securities | Level 2
Total mortgage and asset backed securities held at fair value
Total mortgage and asset-backed securities held at fair value	475.4	494.5
Collateralized loan obligations | Level 2
Total mortgage and asset backed securities held at fair value
Total mortgage and asset-backed securities held at fair value		373
Vehicle receivables | Level 2
Total mortgage and asset backed securities held at fair value
Total mortgage and asset-backed securities held at fair value	314.6	63.8
Credit card receivables | Level 2
Total mortgage and asset backed securities held at fair value
Total mortgage and asset-backed securities held at fair value	53	10.7
Other | Level 2
Total mortgage and asset backed securities held at fair value
Total mortgage and asset-backed securities held at fair value	$ 107.8	$ 47

Investment securities - Equity

Investment securities - Equity securities and Other long-term investments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Equity securities
Equity securities and Other long-term investments
Cost or amortized cost	$ 409.4	$ 275.1
Gross unrealized gains	17.8	29.3
Gross unrealized losses	(50.8)	(5.1)
Net foreign currency gains (losses)	3.6	(0.1)
Fair value	380	299.2
Other long-term investments
Equity securities and Other long-term investments
Cost or amortized cost	337.6	255.5
Gross unrealized gains	32.6	14.2
Gross unrealized losses	(13.5)	(4.1)
Net foreign currency gains (losses)	8.3	3.9
Fair value	365	269.5
Other long-term investments | Hedge funds and private equity funds
Equity securities and Other long-term investments
Fair value	301.4	205.3
Other long-term investments | Limited liability companies and private equity securities
Equity securities and Other long-term investments
Fair value	$ 63.6	$ 64.2

Investment securities - Hedge F

Investment securities - Hedge Funds and Private Equity Funds (Details) - Other long-term investments $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)item	Dec. 31, 2017USD ($)
Equity securities and Other long-term investments
Largest investment in single fund	$ 54.8	$ 31.4
Other long-term investments	365	269.5
Hedge funds and private equity funds
Equity securities and Other long-term investments
Other long-term investments	301.4	205.3
Unfunded Commitments	$ 82	92.1
Hedge funds
Equity securities and Other long-term investments
Number of investment funds in which the investments are held | item	9
Other long-term investments	$ 118.3	60.2
Unfunded Commitments	0
Long/short multi-sector
Equity securities and Other long-term investments
Other long-term investments	41	31.5
Distressed mortgage credit
Equity securities and Other long-term investments
Other long-term investments	54.8	25.5
Private credit
Equity securities and Other long-term investments
Other long-term investments	20
Other
Equity securities and Other long-term investments
Other long-term investments	$ 2.5	3.2
Private equity securities
Equity securities and Other long-term investments
Number of investment funds in which the investments are held | item	27
Other long-term investments	$ 183.1	145.1
Unfunded Commitments	82	92.1
Energy infrastructure & services
Equity securities and Other long-term investments
Other long-term investments	93.7	73.5
Unfunded Commitments	54.2	56.4
Multi-sector
Equity securities and Other long-term investments
Other long-term investments	9	9.5
Unfunded Commitments	0.7	1
Healthcare
Equity securities and Other long-term investments
Other long-term investments	31.7	23.4
Unfunded Commitments	15.6	28.6
Life settlement
Equity securities and Other long-term investments
Other long-term investments	23.7	21.5
Manufacturing/Industrial
Equity securities and Other long-term investments
Other long-term investments	23.6	15.9
Unfunded Commitments	10.4	5.1
Private equity secondaries
Equity securities and Other long-term investments
Other long-term investments	1.1	1.1
Unfunded Commitments	1.1	1
Real estate
Equity securities and Other long-term investments
Other long-term investments	$ 0.3	$ 0.2

Investment securities - Hedge_2

Investment securities - Hedge Funds redemption frequency and Private Equity Fund lock-up period (Details) - Other long-term investments - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Equity securities and Other long-term investments
Other long-term investments	$ 365	$ 269.5
Hedge funds
Equity securities and Other long-term investments
Other long-term investments	118.3	60.2
Outstanding distribution from investments	0
Hedge funds | Monthly Redemption Frequency
Equity securities and Other long-term investments
Other long-term investments	25.4
Hedge funds | Quarterly Redemption Frequency
Equity securities and Other long-term investments
Other long-term investments	0.8
Hedge funds | Semi-annual Redemption Frequency
Equity securities and Other long-term investments
Other long-term investments	0.8
Hedge funds | Annual Redemption Frequency
Equity securities and Other long-term investments
Other long-term investments	91.3
Private equity securities
Equity securities and Other long-term investments
Other long-term investments	183.1	145.1
Outstanding distribution from investments	82	$ 92.1
Private equity securities | Lock up period of 1 - 3 years
Equity securities and Other long-term investments
Other long-term investments	17.2
Private equity securities | Lock up period of 3 - 5 years
Equity securities and Other long-term investments
Other long-term investments	4.6
Private equity securities | Lock up period of 5 - 10 years
Equity securities and Other long-term investments
Other long-term investments	161.3
30-59 days notice | Hedge funds
Equity securities and Other long-term investments
Other long-term investments	0.8
30-59 days notice | Hedge funds | Quarterly Redemption Frequency
Equity securities and Other long-term investments
Other long-term investments	0.8
60-89 days notice | Hedge funds
Equity securities and Other long-term investments
Other long-term investments	41.8
60-89 days notice | Hedge funds | Monthly Redemption Frequency
Equity securities and Other long-term investments
Other long-term investments	25.4
60-89 days notice | Hedge funds | Semi-annual Redemption Frequency
Equity securities and Other long-term investments
Other long-term investments	0.8
60-89 days notice | Hedge funds | Annual Redemption Frequency
Equity securities and Other long-term investments
Other long-term investments	15.6
90-119 days notice | Hedge funds
Equity securities and Other long-term investments
Other long-term investments	55.7
90-119 days notice | Hedge funds | Annual Redemption Frequency
Equity securities and Other long-term investments
Other long-term investments	55.7
120+ days notice | Hedge funds
Equity securities and Other long-term investments
Other long-term investments	20
120+ days notice | Hedge funds | Annual Redemption Frequency
Equity securities and Other long-term investments
Other long-term investments	$ 20

Investment securities - Investm

Investment securities - Investments Held on Deposit or as Collateral and Unsettled investment purchases and sales (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Marketable securities
Investments held in trusts	$ 792.4	$ 548.2
Investments held in trusts - fair value	801.2	548.4
Accounts payable
Marketable securities
Unsettled investment purchases	3.2	0.3
Accounts receivable
Marketable securities
Unsettled investment sales	5	$ 0.3
Interest rate cap | Derivatives not designated as hedging instruments
Marketable securities
Collateral balances held	$ 0.3

Fair value measurements - Fair

Fair value measurements - Fair Value Measurements by Level (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2018
Assets measured at fair value
Fixed maturity investments, at fair value	$ 2,180	$ 1,949.2
Short-term investments, at fair value	625	715.5
Equity securities	299.2	380
Other long-term investments	64.2	63.6
Total investments	3,168.4	3,108.3
Derivative instruments	4.5	4.1
Total assets measured at fair value	3,172.9	3,112.4
Liabilities measured at fair value
Contingent consideration liabilities	42.8	28.8
Derivative instruments	10.6	5.1
Total liabilities measured at fair value	53.4	33.9
U.S. government and government agency
Assets measured at fair value
Fixed maturity investments, at fair value	84.8	167.9
Corporate debt securities
Assets measured at fair value
Fixed maturity investments, at fair value	1,014.5	695.8
Residential mortgage-backed securities
Assets measured at fair value
Fixed maturity investments, at fair value	475.4	494.5
Estate, Equity and Other
Assets measured at fair value
Fixed maturity investments, at fair value	293.5	413.5
Commercial mortgage-backed securities
Assets measured at fair value
Fixed maturity investments, at fair value	191	115.9
Non-U.S. government and government agency
Assets measured at fair value
Fixed maturity investments, at fair value	107.2	50.3
Preferred stocks
Assets measured at fair value
Fixed maturity investments, at fair value	9.8	8.5
U.S. States, municipalities, and political subdivision
Assets measured at fair value
Fixed maturity investments, at fair value	3.8	2.8
Hedge funds and private equity funds
Liabilities measured at fair value
Fair value of hedges	205.3	301.4
Fixed maturity investments | Residential mortgage-backed securities
Liabilities measured at fair value
Fair value increase (decrease) on reclassification within subcategories	41.4
Fixed maturity investments | Commercial mortgage-backed securities
Liabilities measured at fair value
Fair value increase (decrease) on reclassification within subcategories	(41.4)
Level 1
Assets measured at fair value
Fixed maturity investments, at fair value	178	207.6
Short-term investments, at fair value	566.2	679.3
Equity securities	298.6	380
Total investments	1,042.8	1,266.9
Total assets measured at fair value	1,042.8	1,266.9
Liabilities measured at fair value
Derivative instruments		0.5
Total liabilities measured at fair value		0.5
Level 1 | U.S. government and government agency
Assets measured at fair value
Fixed maturity investments, at fair value	83.2	164.7
Level 1 | Non-U.S. government and government agency
Assets measured at fair value
Fixed maturity investments, at fair value	94.8	42.9
Level 2
Assets measured at fair value
Fixed maturity investments, at fair value	1,994	1,736.2
Short-term investments, at fair value	58.8	36.2
Equity securities	0.6
Total investments	2,053.4	1,772.4
Total assets measured at fair value	2,053.4	1,772.4
Level 2 | U.S. government and government agency
Assets measured at fair value
Fixed maturity investments, at fair value	1.6	3.2
Level 2 | Corporate debt securities
Assets measured at fair value
Fixed maturity investments, at fair value	1,014.5	695.8
Level 2 | Residential mortgage-backed securities
Assets measured at fair value
Fixed maturity investments, at fair value	475.4	494.5
Level 2 | Estate, Equity and Other
Assets measured at fair value
Fixed maturity investments, at fair value	293.5	413.5
Level 2 | Commercial mortgage-backed securities
Assets measured at fair value
Fixed maturity investments, at fair value	191	115.9
Level 2 | Non-U.S. government and government agency
Assets measured at fair value
Fixed maturity investments, at fair value	12.4	7.4
Level 2 | Preferred stocks
Assets measured at fair value
Fixed maturity investments, at fair value	1.8	3.1
Level 2 | U.S. States, municipalities, and political subdivision
Assets measured at fair value
Fixed maturity investments, at fair value	3.8	2.8
Level 2 | Fixed maturity investments | Residential mortgage-backed securities
Liabilities measured at fair value
Fair value increase (decrease) on reclassification within subcategories	41.4
Level 2 | Fixed maturity investments | Commercial mortgage-backed securities
Liabilities measured at fair value
Fair value increase (decrease) on reclassification within subcategories	(41.4)
Level 3
Assets measured at fair value
Fixed maturity investments, at fair value	8	5.4
Other long-term investments	64.2	63.6
Total investments	72.2	69
Derivative instruments	4.5	4.1
Total assets measured at fair value	76.7	73.1
Liabilities measured at fair value
Contingent consideration liabilities	42.8	28.8
Derivative instruments	10.6	4.6
Total liabilities measured at fair value	53.4	33.4
Level 3 | Preferred stocks
Assets measured at fair value
Fixed maturity investments, at fair value	$ 8	$ 5.4

Fair value measurements - Rollf

Fair value measurements - Rollforward of Level 3 Fair Value Measurements (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Rollforward of Level 3 Fair Value Measurements
Transfers out	$ 0
Rollforward of Level 3, Derivative instruments assets & (liabilities)
Balance at beginning of the period	(6.1)	$ 12.7
Total realized and unrealized gains (losses)	12	(14.6)
Sales/Settlements	(6.4)	(4.2)
Balance at end of the period	(0.5)	(6.1)
Contingent consideration (liabilities)
Rollforward of Level 3, (liabilities)
Balance at beginning of the period	(42.8)
Fair value of contingent consideration liabilities at date of purchase		(122.2)
Total realized and unrealized gains	9.6	48.8
Sales/Settlements	4.4	(30.6)
Balance at end of the period	(28.8)	(42.8)
Fixed maturity investments
Rollforward of Level 3 Fair Value Measurements
Balance at beginning of the period	8	27.7
Total realized and unrealized gains	(6.1)	(4.9)
Purchases	4	4.7
Sales/settlements	(0.5)	(1)
Transfers out		(18.4)
Balance at end of the period	5.4	8
Fixed maturity investments | Foreign currency losses
Rollforward of Level 3 Fair Value Measurements
Losses through Other Comprehensive Income		(0.1)
Other long-term investments
Rollforward of Level 3 Fair Value Measurements
Balance at beginning of the period	64.2	29.1
Total realized and unrealized gains	6.8	(0.5)
Purchases	1.2	36
Sales/settlements	(4.2)	(1.4)
Balance at end of the period	63.6	64.2
Other long-term investments | Foreign currency losses
Rollforward of Level 3 Fair Value Measurements
Losses through Other Comprehensive Income	(4.4)	1
Hedge funds and private equity funds
Rollforward of Level 3, (liabilities)
Fair value of hedges	$ 301.5	$ 205.3

Fair value measurements - Trans

Fair value measurements - Transfers between levels (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)security
Transfers between levels
Transfers from Level 3 to Level 2, Assets	$ 0
Fixed maturity investments
Transfers between levels
Number of securities recategorized from Level 3 to Level 2 measurement | security		2
Transfers from Level 3 to Level 2, Assets		$ 18.4

Fair value measurements - Signi

Fair value measurements - Significant Unobservable Inputs (Details) $ in Millions	Dec. 31, 2018USD ($)$ / shares	Dec. 31, 2017USD ($)$ / shares
Significant Unobservable Inputs
Equity securities	$ 380	$ 299.2
Derivative assets	4.1	4.5
Derivative liabilities	(5.1)	(10.6)
Contingent consideration	(28.8)	(42.8)
Level 3
Significant Unobservable Inputs
Derivative assets	4.1	4.5
Derivative liabilities	(4.6)	(10.6)
Contingent consideration	(28.8)	(42.8)
Level 3 | Share price of recent transaction | Private equity securities
Significant Unobservable Inputs
Equity securities	32.5	25
Level 3 | Share price of recent transaction | Preferred stocks
Significant Unobservable Inputs
Equity securities	4.6	$ 2
Level 3 | Share price of recent transaction | Preferred stock 1
Significant Unobservable Inputs
Equity securities	0.8
Level 3 | Share price of recent transaction | Common shares
Significant Unobservable Inputs
Equity securities	$ 0.3
Level 3 | Share price of recent transaction | Purchase share price | Private equity securities
Significant Unobservable Inputs
Equity Securities, Input | $ / shares	40.63	31.25
Level 3 | Share price of recent transaction | Purchase price | Preferred stocks
Significant Unobservable Inputs
Equity Securities, Input | $ / shares	1.88
Level 3 | Share price of recent transaction | Purchase price | Preferred stock 1
Significant Unobservable Inputs
Equity Securities, Input | $ / shares	0.80
Level 3 | Share price of recent transaction | Purchase price | Common shares
Significant Unobservable Inputs
Equity Securities, Input | $ / shares	10
Level 3 | Share price of recent transaction | Average share price | Preferred stocks
Significant Unobservable Inputs
Equity Securities, Input | $ / shares		11.79
Level 3 | Multiple of GAAP book value | Private equity securities
Significant Unobservable Inputs
Equity securities	$ 14.7	$ 17.2
Level 3 | Multiple of GAAP book value | Book value multiple | Private equity securities
Significant Unobservable Inputs
Equity Securities, Input | $ / shares	0.9	1
Level 3 | Purchase price of recent transaction | Private debt instrument
Significant Unobservable Inputs
Private debt instrument	$ 9
Level 3 | Purchase price of recent transaction | Private debt instrument 1
Significant Unobservable Inputs
Private debt instrument	6	$ 9
Level 3 | Purchase price of recent transaction | Private debt instrument 2
Significant Unobservable Inputs
Private debt instrument		9
Level 3 | Purchase price of recent transaction | Private debt instrument 3
Significant Unobservable Inputs
Private debt instrument		1.5
Level 3 | Purchase price of recent transaction | Preferred stocks
Significant Unobservable Inputs
Equity securities		$ 6
Level 3 | Purchase price of recent transaction | Common shares
Significant Unobservable Inputs
Equity securities	0.9
Level 3 | Purchase price of recent transaction | Interest rate cap | Private debt instrument 2
Significant Unobservable Inputs
Private debt instrument	$ 0.2
Level 3 | Purchase price of recent transaction | Purchase price | Private debt instrument
Significant Unobservable Inputs
Debt instrument, Input | $ / shares	9
Level 3 | Purchase price of recent transaction | Purchase price | Private debt instrument 1
Significant Unobservable Inputs
Debt instrument, Input | $ / shares	6	9
Level 3 | Purchase price of recent transaction | Purchase price | Private debt instrument 2
Significant Unobservable Inputs
Debt instrument, Input | $ / shares		9
Level 3 | Purchase price of recent transaction | Purchase price | Private debt instrument 3
Significant Unobservable Inputs
Debt instrument, Input | $ / shares		1.50
Level 3 | Purchase price of recent transaction | Purchase price | Common shares
Significant Unobservable Inputs
Equity Securities, Input | $ / shares	1.88
Level 3 | Purchase price of recent transaction | Purchase price | Interest rate cap | Private debt instrument 2
Significant Unobservable Inputs
Debt instrument, Input | $ / shares	0.2
Level 3 | Purchase price of recent transaction | Average share price | Preferred stocks
Significant Unobservable Inputs
Equity Securities, Input | $ / shares		0.6
Level 3 | Internal valuation model | Private debt instrument
Significant Unobservable Inputs
Private debt instrument		$ 2.5
Level 3 | Internal valuation model | Purchase price less pay down | Private debt instrument
Significant Unobservable Inputs
Debt instrument, Input | $ / shares		2.5
Level 3 | Third party appraisal | Weather derivatives
Significant Unobservable Inputs
Derivative assets	$ 3.9	$ 4.2
Level 3 | Third party appraisal | Interest rate cap
Significant Unobservable Inputs
Derivative assets	0.2	0.3
Level 3 | Third party appraisal | Foreign currency swaps
Significant Unobservable Inputs
Derivative liabilities	$ (4.6)	$ (10.6)
Level 3 | Third party appraisal | Broker quote | Weather derivatives
Significant Unobservable Inputs
Derivative assets, Input | $ / shares	3.9	4.2
Level 3 | Third party appraisal | Broker quote | Interest rate cap
Significant Unobservable Inputs
Derivative assets, Input | $ / shares	0.2	0.3
Level 3 | Third party appraisal | Broker quote | Foreign currency swaps
Significant Unobservable Inputs
Derivative liabilities, Input | $ / shares	(4.6)	(10.6)
Level 3 | External valuation model
Significant Unobservable Inputs
Contingent consideration	$ (28.8)	$ (42.8)
Level 3 | External valuation model | Discounted future payments
Significant Unobservable Inputs
Contingent consideration, Input | $ / shares	(28.8)	(42.80)

Fair value measurements - Finan

Fair value measurements - Financial instruments disclosed, but not carried at fair value (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2011
Financial instruments not carried at fair value
Debt	$ 696.8	$ 723.2
Carrying Value | Series B preference shares
Financial instruments not carried at fair value
Redeemable preference shares	232.2
Carrying Value | Series A preference shares
Financial instruments not carried at fair value
Redeemable preference shares		106.1
2017 SEK Subordinated Notes
Financial instruments not carried at fair value
Debt	303.6	330.7
2017 SEK Subordinated Notes | Carrying Value
Financial instruments not carried at fair value
Debt	303.6	330.7
2016 SIG Senior Notes
Financial instruments not carried at fair value
Debt	393.2	392.5
2016 SIG Senior Notes | Carrying Value
Financial instruments not carried at fair value
Debt	393.2	392.5
Old Lyme Note
Financial instruments not carried at fair value
Debt			$ 2.1
Level 3 | Fair Value | Series B preference shares
Financial instruments not carried at fair value
Redeemable preference shares	191.7
Level 3 | Fair Value | Series A preference shares
Financial instruments not carried at fair value
Redeemable preference shares		90
Level 3 | 2017 SEK Subordinated Notes | Fair Value
Financial instruments not carried at fair value
Debt	309.5	341.4
Level 3 | 2016 SIG Senior Notes | Fair Value
Financial instruments not carried at fair value
Debt	$ 347.6	$ 392.3

Fair value measurements - Fai_2

Fair value measurements - Fair Value Measurements on a Non-Recurring Basis (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Fair Value Measurements on a Non-Recurring Basis
Impairment of indefinite-lived intangible asset excluding goodwill	$ (8)	$ (5)
Trade Names
Fair Value Measurements on a Non-Recurring Basis
Impairment of indefinite-lived intangible asset excluding goodwill	(13)	(5)
Trade Names | Impairment of Intangible Assets
Fair Value Measurements on a Non-Recurring Basis
Impairment of indefinite-lived intangible asset excluding goodwill	$ 8	$ 5

Goodwill and intangible asset_2

Goodwill and intangible assets - Change in goodwill, intangible assets with an indefinite life and with a finite life (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Goodwill
Balance at the beginning of the period	$ 401
Additions		$ 400.7
Foreign currency translation	(0.4)	0.3
Balance at the end of the period	400.6	401
Indefinite lived intangible Asset
Balance at the beginning of the period	27	5
Additions	3.1	27
Impairment of indefinite-lived intangible asset excluding goodwill	(8)	(5)
Balance at the end of the period	22.1	27
Finite lived intangible assets
Balance at the beginning of the period	189.3
Additions		199.5
Amortization of intangible assets	(15.8)
Balance at the end of the period	173.5	189.3
Balance at the beginning of the period	617.3	5
Additions	3.1	627.2
Foreign currency translation	(0.4)	0.3
Impairments	(13)	(5)
Amortization of intangible assets	(15.8)
Balance at the end of the period	$ 596.2	$ 617.3

Goodwill and intangible asset_3

Goodwill and intangible assets - Components of goodwill and intangible assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Finite lived intangible Asset
Accumulated Amortization	$ (26)	$ (10.2)
Net Balance	173.5	189.3
Goodwill
Gross Balance	400.7	400.7
Foreign currency translation	(0.1)	0.3
Net Balance	400.6	401
Indefinite lived intangible assets
Gross Balance	22.1	27	$ 5
Impairments	(8)	(5)
Gross carrying amount of intangible assets	635.3	632.2
Impairment of intangible assets	(13)	(5)
Foreign currency translation including goodwill	(0.1)	0.3
Net carrying amount of intangible assets	596.2	617.3	$ 5
Trade Names
Indefinite lived intangible assets
Gross Balance	27	27
Impairments	(13)	(5)
Net Balance	14	22
Insurance licenses
Indefinite lived intangible assets
Gross Balance	8.1	5
Net Balance	8.1	5
Customer relationships
Finite lived intangible Asset
Gross Balance	17	17
Accumulated Amortization	(2.2)	(0.8)
Net Balance	14.8	16.2
Distribution relationships
Finite lived intangible Asset
Gross Balance	151	151
Accumulated Amortization	(15.8)	(6.2)
Net Balance	135.2	144.8
Trade Names
Finite lived intangible Asset
Gross Balance	16	16
Accumulated Amortization	(3.7)	(1.6)
Net Balance	12.3	14.4
Technology
Finite lived intangible Asset
Gross Balance	15.5	15.5
Accumulated Amortization	(4.3)	(1.6)
Net Balance	$ 11.2	$ 13.9

Goodwill and intangible asset_4

Goodwill and intangible assets - Estimation of remaining amortization expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Amortization of intangible assets
2019	$ 15.8
2020	15.8
2021	15.8
2022	14.6
2023	13.8
2024 and thereafter	97.7
Total remaining amortization expense	$ 173.5	$ 189.3
Minimum
Amortization of intangible assets
Intangible asset useful life	3 years 3 months 18 days
Maximum
Amortization of intangible assets
Intangible asset useful life	20 years 10 months 24 days

Debt and standby letters of c_3

Debt and standby letters of credit facilities (Details) kr in Millions, $ in Millions	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Sep. 22, 2017SEK (kr)	Sep. 22, 2017USD ($)	Nov. 01, 2016USD ($)	Dec. 31, 2011USD ($)
Debt and standby letters of credit facilities
Long-term Debt, Total	$ 696.8	$ 723.2
2017 SEK Subordinated Notes
Debt and standby letters of credit facilities
Debt, at face value	307.6	335.2	kr 2,750	$ 346.1
Unamortized issuance costs	(4)	(4.5)
Long-term Debt, Total	$ 303.6	$ 330.7
Effective rate	3.80%	3.50%
2016 SIG Senior Notes
Debt and standby letters of credit facilities
Debt, at face value	$ 400	$ 400			$ 400
Unamortized discount	(2.6)	(2.9)
Unamortized issuance costs	(4.2)	(4.6)
Long-term Debt, Total	$ 393.2	$ 392.5
Effective rate	4.70%	4.70%
Old Lyme Note
Debt and standby letters of credit facilities
Long-term Debt, Total						$ 2.1

Debt and standby letters of c_4

Debt and standby letters of credit facilities - Schedule of contractual repayments (Details) $ in Millions	Dec. 31, 2018USD ($)
Debt and standby letters of credit facilities
Due after five years	$ 707.6
Total	$ 707.6

Debt and standby letters of c_5

Debt and standby letters of credit facilities - 2017 SEK Subordinated Notes and 2016 SIG Senior Notes (Details) kr in Millions, $ in Millions	Nov. 05, 2018USD ($)	Sep. 22, 2017SEK (kr)	Sep. 22, 2017USD ($)	Nov. 01, 2016USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Sep. 22, 2017USD ($)
Debt and standby letters of credit facilities
Outstanding preference shares redeemed	$ 164
Interest expense on debt					$ 30.8	$ 22.4	$ 34.6
2017 SEK Subordinated Notes
Debt and standby letters of credit facilities
Debt notes issued		kr 2,750			307.6	335.2		$ 346.1
Issue price (as a percent)		100.00%	100.00%
Term of redemption following occurrence of Specified Event (in days)		90 days	90 days
Debt issuance costs								$ 4.6
Underwriting fees		kr 27.5	$ 3.5
Interest expense on debt					$ 11.7	$ 3.3
Annual interest rate (as a percent)					3.80%	3.50%
Effective rate					3.80%	3.50%
2016 SIG Senior Notes
Debt and standby letters of credit facilities
Debt notes issued				$ 400	$ 400	$ 400
Issue price (as a percent)				99.209%
Debt issuance costs				$ 5.1
Underwriting fees				3.4
Interest expense on debt					$ 19.1	$ 19.1	$ 3.2
Net proceeds				$ 392.4
Annual interest rate (as a percent)				4.60%
Effective rate					4.70%	4.70%
Preferred stocks | Sirius International Group, Ltd | 2017 SEK Subordinated Notes
Debt and standby letters of credit facilities
Outstanding preference shares redeemed					$ 250

Debt and standby letters of c_6

Debt and standby letters of credit facilities - 2007 SIG Senior Notes and Old Lyme Note (Details) - USD ($) $ in Millions	Apr. 25, 2017	Mar. 15, 2007	Dec. 31, 2016	Dec. 31, 2011	Dec. 31, 2018	Dec. 31, 2017
Debt and standby letters of credit facilities
Debt					$ 696.8	$ 723.2
2007 SIG Senior Notes
Debt and standby letters of credit facilities
Debt, at face value			$ 400
Loss on retirement of debt			5.7
Write off of deferred issuance costs			0.1
Loss from interest rate hedge recorded in other comprehensive income		$ 2.4
Unamortized loss remaining in accumulated other comprehensive income			$ 0.1
Effective yield (as a percent)			6.50%
Interest expense, inclusive of amortization of issuance costs			$ 31.2
Old Lyme Note
Debt and standby letters of credit facilities
Payment made on retirements	$ 3.8
Term of credit facility				5 years
Debt				$ 2.1
Percentage of principal amount of debt subject to upward or downward adjustments				50.00%
Principal amount of debt subject to upward or downward adjustment				$ 6
Amount of debt available for loss reserve development				3.4
Amount of debt available for loss reserve position				$ 1.7

Debt and standby letters of c_7

Debt and standby letters of credit facilities - Standby Letter of Credit Facilities (Details) $ in Millions, kr in Billions	Dec. 31, 2018SEK (kr)	Dec. 31, 2018USD ($)	Nov. 09, 2018USD ($)agreement	Dec. 31, 2017SEK (kr)	Dec. 31, 2017USD ($)
Other Secured Letter of Credit and Trust Arrangement | Sirius America Insurance Company
Standby Letter of Credit Facilities
Secured letter of credit and trust arrangements were collateralized by pledged assets and assets in trust		$ 56.2			$ 55.8
Other Secured Letter of Credit and Trust Arrangement | Sirius Bermuda Insurance Company Ltd.
Standby Letter of Credit Facilities
Secured letter of credit and trust arrangements were collateralized by pledged assets and assets in trust		319.7			123.3
Sirius International | Nordea Bank Finland Abp
Standby Letter of Credit Facilities
Borrowing capacity			$ 125
Sirius International | DNB Bank ASA London Branch
Standby Letter of Credit Facilities
Borrowing capacity			$ 35
Sirius International | Standby Letters of Credit
Standby Letter of Credit Facilities
Number of standby letter of credit agreements renewed | agreement			2
Borrowing capacity			$ 160
Sirius International | Unsecured Standby Letters of Credit | DNB Bank ASA London Branch
Standby Letter of Credit Facilities
Borrowing capacity			$ 25
Sirius International | Other Secured Letter of Credit and Trust Arrangement
Standby Letter of Credit Facilities
Secured letter of credit and trust arrangements were collateralized by pledged assets and assets in trust	kr 2.9	$ 321.3		kr 2.1	$ 261.2

Debt and standby letters of c_8

Debt and standby letters of credit facilities - Revolving Credit Facility (Details) - Revolving Credit Facility $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)
Line of Credit Facility [Line Items]
Term of credit facility	3 years
Borrowing capacity	$ 300
Outstanding amount	$ 0

Debt and standby letters of c_9

Debt and standby letters of credit facilities - Interest (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Debt and standby letters of credit facilities
Total interest expense incurred	$ 30.8	$ 22.4	$ 34.6
Total interest paid	$ 30	$ 22	$ 31.6

Income taxes - Net income (loss

Income taxes - Net income (loss) before income taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Net income (loss) before income taxes
Total income (loss) before income taxes	$ 23.7	$ (109.9)	$ 37.9
Bermuda
Net income (loss) before income taxes
Income (loss) before income taxes, Domestic	62.7	(95)	(4.9)
United States
Net income (loss) before income taxes
Income (loss) before income taxes, Foreign	(10.1)	(22.4)	(25.3)
U.K.
Net income (loss) before income taxes
Income (loss) before income taxes, Foreign	(14.9)	(27)	(7)
Sweden
Net income (loss) before income taxes
Income (loss) before income taxes, Foreign	(74.2)	(26.1)	(29.5)
Luxembourg
Net income (loss) before income taxes
Income (loss) before income taxes, Foreign	60.3	43.4	105.3
Netherlands
Net income (loss) before income taxes
Income (loss) before income taxes, Foreign	$ (0.1)	18.2	(0.1)
Other
Net income (loss) before income taxes
Income (loss) before income taxes, Foreign		$ (1)	$ (0.6)

Income taxes - Total income tax

Income taxes - Total income tax (expense) benefit (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Current tax (expense):
U.S. Federal	$ (7)	$ (0.9)	$ 2.1
State	(2.2)	(2)	(1.7)
Non-U.S	(19.8)	(3.6)	(11.4)
Total current tax (expense)	(29)	(6.5)	(11)
Deferred tax (expense) benefit:
U.S. Federal	14.5	(10.7)	16
Non-U.S	(25.9)	(9.2)	2.3
Total deferred tax (expense) benefit	(11.4)	(19.9)	18.3
Total income tax (expense) benefit	$ (40.4)	$ (26.4)	$ 7.3

Income taxes - Effective Rate R

Income taxes - Effective Rate Reconciliation (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Effective Rate Reconciliation
Statutory tax rate (as a percent)		21.00%
Tax (expense) benefit at the statutory rate	$ (5.2)	$ 24.2	$ (8.3)
Differences in taxes resulting from:
Tax reserve adjustments	(42)	(0.7)	(6)
Tax on Safety Reserve	(15.3)
Foreign tax credits	10.8	2.2	6.9
Section 197 Intangible as result of internal restructuring	6.9
Gain on internal restructuring	(9.1)
State taxes expense	(2.9)	(0.7)	(1.1)
Change in valuation allowance	2.3	1.4	55
Withholding taxes	(1.9)	(0.8)	(1.4)
Other, net	(1.8)	(4.3)	(0.3)
Total income tax (expense) benefit	(40.4)	(26.4)	7.3
Pre-tax (loss) income	$ 23.7	$ (109.9)	$ 37.9
Swedish Tax Authority
Effective Rate Reconciliation
Statutory tax rate (as a percent)	22.00%	22.00%	22.00%
Sweden
Effective Rate Reconciliation
Statutory tax rate (as a percent)	22.00%
Differences in taxes resulting from:
Tax rate change	$ 15.4
Other
Differences in taxes resulting from:
Tax rate change	0.1	$ (29.7)
Luxembourg
Differences in taxes resulting from:
Tax rate change		0.4	$ (30.6)
Non-Sweden
Differences in taxes resulting from:
Non-Sweden Earnings	2.3	(18.4)	(6.9)
Pre-tax (loss) income	$ 97.9	$ (83.8)	$ 67.3

Income taxes - Tax Cuts and Job

Income taxes - Tax Cuts and Jobs Act and Tax Payments and Receipts (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
The Tax Cuts and Jobs Act
Statutory tax rate (as a percent)				21.00%
Net deferred tax liability			$ 15.4
Notional taxable income (as a percent)			6.00%
Deferred tax expense			$ 15.3
Remeasurement period for transition tax (in years)			1 year
Tax Cuts and Jobs Act of 2017, BEAT tax rate, 2018 (as a percent)			5.00%
Tax Cuts and Jobs Act of 2017, BEAT tax rate, 2019-2025 (as a percent)			10.00%
Tax Cuts and Jobs Act of 2017, BEAT tax rate, 2026 and thereafter (as a percent)			12.50%
Provision for income taxes related to BEAT			$ 0
Provision for income taxes related to GILTI			0
Net deferred tax assets			3.5
Net income tax payments			$ 19.1	$ 16.7	$ 8.3
Sweden
The Tax Cuts and Jobs Act
Statutory tax rate (as a percent)			22.00%
Sweden | Forecast
The Tax Cuts and Jobs Act
Statutory tax rate (as a percent)	20.60%	21.40%

Income taxes - Deferred Tax Inv

Income taxes - Deferred Tax Inventory (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Deferred income tax assets related to:
Non-U.S. net operating loss carry forwards	$ 249.8	$ 305.1
U.S. federal net operating loss and capital carry forwards	33.8	34.7
Tax credit carry forwards	28.7	18.3
Loss reserve discount	7.3	8.9
Unearned premiums	3.1	1.5
Deferred interest	2.1	0.2
Incentive compensation and benefits accruals	1.9	2
Allowance for doubtful accounts	1.4	1.4
Foreign currency translations on investments and other assets	0.8
Net unrealized investment losses		1.8
Other items	2.7	3.6
Total gross deferred income tax assets	331.6	377.5
Valuation allowance	(64.3)	(71.8)
Total adjusted deferred tax asset	267.3	305.7
Deferred income tax liabilities related to:
Safety reserve	261.1	286.6
Intangible assets	28.7	42
Deferred acquisition costs	3.1	1.2
Purchase accounting	3	2.4
Investment basis differences	2.4	1.1
Net unrealized investment gains	0.3
Foreign currency translations on investments and other assets		7.3
Other items	3.6	3.2
Total deferred income tax liabilities	302.2	343.8
Net deferred tax (liability) asset	(34.9)	$ (38.1)
U.S. subsidiaries
Deferred income tax liabilities related to:
Net deferred tax assets	32.8
Luxembourg subsidiaries
Deferred income tax liabilities related to:
Net deferred tax assets	155.8
United Kingdom subsidiaries
Deferred income tax liabilities related to:
Net deferred tax assets	12.6
Sweden subsidiaries
Deferred income tax liabilities related to:
Deferred tax liability	$ 236.1

Income taxes - Net Operating Lo

Income taxes - Net Operating Loss and Capital Loss Carryforwards (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Net Operating Loss and Capital Loss Carryforwards
Total	$ 1,377.2
Gross deferred tax asset	283.6
Valuation allowance	(64.6)
Net deferred tax asset	219
Operating loss carryforward subject to annual limitation	102.2
Operating loss carryforward subject to SRLY provisions	11
Valuation allowance	64.3	$ 71.8
United States
Net Operating Loss and Capital Loss Carryforwards
Total	160.6
Gross deferred tax asset	33.8
Net deferred tax asset	33.8
Luxembourg
Net Operating Loss and Capital Loss Carryforwards
Total	871.6
Gross deferred tax asset	226.7
Valuation allowance	(64.6)
Net deferred tax asset	162.1
Operating loss carryforwards	668.9
Sweden
Net Operating Loss and Capital Loss Carryforwards
Total	273
Gross deferred tax asset	10.8
Net deferred tax asset	10.8
U.K.
Net Operating Loss and Capital Loss Carryforwards
Total	72
Gross deferred tax asset	12.3
Net deferred tax asset	12.3
2019-2023
Net Operating Loss and Capital Loss Carryforwards
Total	8.7
2019-2023 | United States
Net Operating Loss and Capital Loss Carryforwards
Total	8.7
2024-2038
Net Operating Loss and Capital Loss Carryforwards
Total	152
2024-2038 | United States
Net Operating Loss and Capital Loss Carryforwards
Total	151.9
2024-2038 | Luxembourg
Net Operating Loss and Capital Loss Carryforwards
Total	0.1
No expiration date
Net Operating Loss and Capital Loss Carryforwards
Total	1,216.5
No expiration date | Luxembourg
Net Operating Loss and Capital Loss Carryforwards
Total	871.5
No expiration date | Sweden
Net Operating Loss and Capital Loss Carryforwards
Total	273
No expiration date | U.K.
Net Operating Loss and Capital Loss Carryforwards
Total	72
Expire in between 2022 to 2025
Net Operating Loss and Capital Loss Carryforwards
Operating loss carryforward subject to annual limitation	9.6
Expire in between 2030 to 2032
Net Operating Loss and Capital Loss Carryforwards
Operating loss carryforward subject to annual limitation	92.6
Expires in 2019 | United States
Net Operating Loss and Capital Loss Carryforwards
Operating loss carryforwards	16.7
Refundable in 2022
Net Operating Loss and Capital Loss Carryforwards
Operating loss carryforwards	0.1
Expire in between 2020 to 2027 | United States
Net Operating Loss and Capital Loss Carryforwards
Valuation allowance	16.7
Expire in between 2021 to 2023 | United States
Net Operating Loss and Capital Loss Carryforwards
Valuation allowance	11.9
Expire in between 2021 to 2023 | Sweden
Net Operating Loss and Capital Loss Carryforwards
Operating loss carryforwards	$ 11.9

Income taxes - Uncertain Tax Po

Income taxes - Uncertain Tax Positions (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)subsidiary	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Permanent differences
Balance at the beginning of the year	$ 27.4	$ 24.2	$ 19.8
Changes in prior year tax positions	1.4	0.2
Tax positions taken during the current year	36.2	3.8	4.4
Lapse in statute of limitations		(0.5)
Settlements with tax authorities	(0.1)	(0.3)
Balance at the end of the year	64.9	27.4	24.2
Temporary differences
Balance at the beginning of the year	1.8	4.1	6.6
Changes in prior year tax positions		(0.1)
Tax positions taken during the current year	(1.7)	(2.2)	(2.5)
Balance at the beginning of the year	0.1	1.8	4.1
Interest and penalties
Balance at the beginning of the year	0.1	0.2
Changes in prior year tax positions	0.1	0.1
Tax positions taken during the current year			0.2
Settlements with tax authorities		(0.2)
Balance at the end of the year	0.2	0.1	0.2
Reconciliation of the beginning and ending amount of unrecognized tax benefits
Unrecognized Tax Benefits, Beginning Balance	29.3	28.5	26.4
Changes in prior year tax positions	1.5	0.2
Tax positions taken during the current year	34.5	1.6	2.1
Lapse in statute of limitations		(0.5)
Settlements with tax authorities	(0.1)	(0.5)
Unrecognized Tax Benefits, Ending Balance	65.2	29.3	28.5
Reversal of reserves for unrecognized tax benefits on permanent differences and interest and penalties	64.9
Reversal of reserves for unrecognized tax benefits on temporary differences	0.1
Interest income (expense)		(0.1)	$ 0.2
Accrued interest	$ 0.2	$ 0.1
Number of subsidiaries claimed deductions for interest paid on intra-group debt instruments | subsidiary	2
Swedish Tax Authority | Sweden subsidiaries
Reconciliation of the beginning and ending amount of unrecognized tax benefits
Interest income (expense)	$ 0.1
Reserve attributable to uncertain tax positions	$ 62.2

Derivatives - Interest Rate Cap

Derivatives - Interest Rate Cap (Details) - Interest rate cap $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)item
Derivatives
Number of financial institutions entered into derivative contracts | item	2
Derivatives not designated as hedging instruments
Derivatives
Collateral balances held	$ 0.3
Barclays Bank Plc | Derivatives not designated as hedging instruments | A
Derivatives
Collateral balances held	0.2
Nordea Bank Abp | Derivatives not designated as hedging instruments | AA-
Derivatives
Collateral balances held	$ 0.1

Derivatives - Classification an

Derivatives - Classification and Fair Value of Derivatives in Consolidated Balance Sheets (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Derivatives
Derivative assets	$ 4.1	$ 4.5
Derivative liabilities	5.1	10.6
Interest rate cap | Derivatives not designated as hedging instruments
Derivatives
Notional Value	250	250
Interest rate cap | Derivatives not designated as hedging instruments | Other assets
Derivatives
Derivative assets	0.2	0.3
Foreign currency swaps | Derivatives not designated as hedging instruments
Derivatives
Notional Value	45	45
Foreign currency swaps | Derivatives not designated as hedging instruments | Other liabilities
Derivatives
Derivative liabilities	4.6	10.6
Weather derivatives | Derivatives not designated as hedging instruments
Derivatives
Notional Value	150.5	113.3
Weather derivatives | Derivatives not designated as hedging instruments | Other assets
Derivatives
Derivative assets	3.9	$ 4.2
Equity put options | Derivatives not designated as hedging instruments
Derivatives
Notional Value	6.2
Equity put options | Derivatives not designated as hedging instruments | Other liabilities
Derivatives
Derivative liabilities	$ 0.5

Derivatives - Classification _2

Derivatives - Classification and Fair Value of Derivatives in Consolidated of (Loss) Income Statements (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)item	Dec. 31, 2017USD ($)item	Dec. 31, 2016USD ($)
Derivatives
Gains (losses) recognized in earnings			$ 4.3
Derivatives not designated as hedging instruments | Interest rate cap | Other revenues
Derivatives
Gains (losses) recognized in earnings	$ 0.1	$ (1.5)	(0.2)
Derivatives not designated as hedging instruments | Foreign currency swaps | Net foreign exchange gains (losses)
Derivatives
Gains (losses) recognized in earnings	6.9	$ (11.3)	6.6
Derivatives not designated as hedging instruments | Foreign currency forwards
Derivatives
Number of derivative instruments held | item		0
Derivatives not designated as hedging instruments | Foreign currency forwards | Net foreign exchange gains (losses)
Derivatives
Gains (losses) recognized in earnings		$ (0.3)
Derivatives not designated as hedging instruments | Weather derivatives | Other revenues
Derivatives
Gains (losses) recognized in earnings	$ 5.2	$ (1.5)	$ 5.2
Derivatives not designated as hedging instruments | Equity futures contracts
Derivatives
Number of derivative instruments held | item	0
Derivatives not designated as hedging instruments | Equity futures contracts | Net realized investment gains (losses)
Derivatives
Gains (losses) recognized in earnings	$ 1.7

Employee benefit plans and co_3

Employee benefit plans and compensation plans - Defined benefit plans (Details)	36 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Employee benefit plans and compensation plans
Average return on plan assets	6.40%
Sweden
Employee benefit plans and compensation plans
Percentage of total plan assets	94.00%	94.00%
Germany
Employee benefit plans and compensation plans
Percentage of total plan assets	6.00%	6.00%

Employee benefit plans and co_4

Employee benefit plans and compensation plans - Defined benefit plans - Plan Assets (Details)	Dec. 31, 2018	Dec. 31, 2017
International equities
Employee benefit plans and compensation plans
Percentage of plan assets	11.40%	18.10%
Swedish equities
Employee benefit plans and compensation plans
Percentage of plan assets	7.50%	9.80%
Swedish nominal bonds
Employee benefit plans and compensation plans
Percentage of plan assets	40.30%	32.70%
Real estate
Employee benefit plans and compensation plans
Percentage of plan assets	11.20%	11.30%
Private equity
Employee benefit plans and compensation plans
Percentage of plan assets	10.40%	9.70%
Other
Employee benefit plans and compensation plans
Percentage of plan assets	19.20%	18.40%

Employee benefit plans and co_5

Employee benefit plans and compensation plans - Defined benefit plans - Obligations (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Sweden
Employee benefit plans and compensation plans
Discount rate	2.50%	2.50%
Increase in compensation levels rate	3.20%	3.20%
Turnover rate	3.00%	3.00%
Additional information
Pension liability (in years)	20 years
Germany
Employee benefit plans and compensation plans
Discount rate	1.70%	1.70%
Increase in compensation levels rate	2.00%	2.00%
Additional information
Pension liability (in years)	18 years

Employee benefit plans and co_6

Employee benefit plans and compensation plans - Defined benefit plans - Reconciliation (Details) - Defined benefit plans - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Change in benefit obligation
Projected benefit obligation, beginning of year	$ 17.4	$ 14.9
Service cost	1	0.8
Interest cost	0.4	0.3
Actuarial losses	0.6	0.4
Benefit payments	(0.4)	(0.5)
Tax payments	(0.2)	(0.2)
Currency revaluation effect	(1.3)	1.7
Projected benefit obligation, end of year	17.5	17.4
Change in plan assets
Fair value of plan assets, end of year	16.1	11.6
Employer contributions	1.2	0.9
Benefit payments	(0.3)	(0.3)
Interest income	0.8	2.5
Currency revaluation effect	(1.4)	1.4
Fair value of plan assets, end of year	16.4	16.1
Funded status at the end of year	$ (1.1)	$ (1.3)

Employee benefit plans and co_7

Employee benefit plans and compensation plans - Defined benefit plans - Additional information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Sweden
Employee benefit plans and compensation plans
Funded status at the end of year	$ 3
Increase in the defined benefit obligation related to a 100 basis point decrease in the discount rate	2.3
Germany
Employee benefit plans and compensation plans
Funded status at the end of year	(4.1)
Increase in the defined benefit obligation related to a 50 basis point decrease in the discount rate	0.5
Decrease in the defined benefit obligation related to a 50 basis point increase in the discount rate	0.4
Defined benefit plans
Employee benefit plans and compensation plans
Funded status at the end of year	(1.1)	$ (1.3)
Accumulated benefit obligation	$ 17.5	17.4	$ 14.9
Defined benefit plans | Sweden
Employee benefit plans and compensation plans
Funded status at the end of year		3.1
Defined benefit plans | Germany
Employee benefit plans and compensation plans
Funded status at the end of year		$ (4.4)

Employee benefit plans and co_8

Employee benefit plans and compensation plans - Defined benefit plans - Expense (Details) - Defined benefit plans - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Employee benefit plans and compensation plans
Actuarial (loss)	$ 0.6	$ 0.4
Foreign Plan
Employee benefit plans and compensation plans
Service cost	(1.2)	(0.8)	$ (0.9)
Interest cost	0.1	2.2
Actuarial (loss)	(0.8)	(0.3)	(0.9)
Net periodic pension expense	$ (1.9)	$ 1.1	$ (1.8)

Employee benefit plans and co_9

Employee benefit plans and compensation plans - Defined benefit plans - Payments (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Employee benefit plans and compensation plans
Employer benefit payments/settlements	$ 0.4	$ 0.2
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]
2019	0.4
2020	0.4
2021	0.4
2022	0.4
2023	0.4
2024 -2028	2.9
Total benefit payments required	$ 4.9

Employee benefit plans and c_10

Employee benefit plans and compensation plans - Defined contribution plans - Non U.S (Details) - USD ($) $ in Millions	7 Months Ended	9 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined contribution plans
Benefit plan expenses recognized			$ 7.6	$ 4.9	$ 7.3
SIHC 401(k) Plan
Defined contribution plans
Employer match, first level (as a percent)			100.00%
Percentage of salary matched, first level (as a percent)			2.00%
Employer match, second level (as a percent)			50.00%
Percentage of salary matched, second level (as a percent)			4.00%
Matching contribution expense			$ 0.8	1.3	0.7
IRS annual covered compensation limit			$ 0.3
Variable contribution expense				0.3	0.4
IMG 401(k) Plan
Defined contribution plans
Employer match, first level (as a percent)			100.00%
Percentage of salary matched, first level (as a percent)			1.00%
Employer match, second level (as a percent)			50.00%
Matching contribution expense	$ 0.3		$ 0.6
Armada 401(k) Plan
Defined contribution plans
Discretionary matching contributions		$ 0.1	$ 0.2
Minimum | IMG 401(k) Plan
Defined contribution plans
Percentage of salary matched, second level (as a percent)			1.00%
Maximum | SIHC 401(k) Plan
Defined contribution plans
Variable contribution as percentage of salary			7.00%
Maximum | IMG 401(k) Plan
Defined contribution plans
Percentage of salary matched, second level (as a percent)			6.00%
U.K.
Defined contribution plans
Employer contribution as percentage of employees' salary			12.00%
Belgium | Minimum
Defined contribution plans
Employer contribution as percentage of employees' salary			6.50%
Belgium | Maximum
Defined contribution plans
Employer contribution as percentage of employees' salary			8.50%
Bermuda
Defined contribution plans
Employer contribution as percentage of employees' salary			10.00%
Employee vesting period (in years)			2 years
Bermuda | Sirius Bermuda Insurance Company Ltd.
Defined contribution plans
Benefit plan expenses recognized			$ 0.5	$ 0.4
Bermuda | Sirius International
Defined contribution plans
Benefit plan expenses recognized					$ 0.5
Swisscanto plan | Switzerland | Minimum
Defined contribution plans
Employer share of total premium charges incurred (as a percent)			60.00%
Employee share of total premium charges incurred (as a percent)			30.00%
Swisscanto plan | Switzerland | Maximum
Defined contribution plans
Employer share of total premium charges incurred (as a percent)			70.00%
Employee share of total premium charges incurred (as a percent)			40.00%

Employee benefit plans and c_11

Employee benefit plans and compensation plans - Share-Based and Other Long-Term Incentive Compensation Plans (Details) $ in Millions	Nov. 01, 2018USD ($)	Aug. 22, 2018shares	Dec. 31, 2018USD ($)itemshares	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense | $			$ 2.5
Non-employee independent directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense | $			$ 0.4
Vesting period			1 year
Shares granted			24,475
2016 Long Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense | $			$ 1	$ 3.9	$ 16.6
Vesting period			3 years
Amount of incentive awards paid to employees received from White Mountains | $			$ 1.4	$ 2.5	$ 5.4
Total number of shares reserved for issuance			5,614,904
2018 Omnibus plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense | $			$ 1.5
Performance Shares | 2016 Long Term Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of outstanding cycles | item			3
IPO Incentive Awards | 2018 Omnibus plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense | $			$ 0.6
Number of shares purchased			203,589
Total number of shares reserved for issuance			552,594
Number of years over which shares to be purchased			3 years
Lock in period of shares (in years)			3 years
Number of shares awarded for shares purchased through various share-based compensation plans			1
Total pool of shares granted at target level of performance on or before November 1, 2018 | $	$ 13
IPO Incentive Awards | 2018 Omnibus plan | 4.5% ROE
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout as percentage of awarded shares			0.00%
IPO Incentive Awards | 2018 Omnibus plan | 9.0% ROE
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout as percentage of awarded shares			100.00%
IPO Incentive Awards | 2018 Omnibus plan | 13.5% ROE
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payout as percentage of awarded shares			150.00%
IPO Incentive Awards | 2018 Omnibus plan | 2019 ROE
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting (Percentage)			25.00%
Shares to be purchased and held out of the pledged shares by the participants (as a percent)			33.00%
IPO Incentive Awards | 2018 Omnibus plan | 2020 ROE
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting (Percentage)			25.00%
Shares to be purchased and held out of the pledged shares by the participants (as a percent)			67.00%
IPO Incentive Awards | 2018 Omnibus plan | 2021 ROE
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting (Percentage)			25.00%
Shares to be purchased and held out of the pledged shares by the participants (as a percent)			100.00%
IPO Incentive Awards | 2018 Omnibus plan | 2019-2021 Average ROE
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting (Percentage)			25.00%
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares to be purchased		1,000
Minimum number of shares to be purchased		100
Number of shares purchased			149,236
Net promissory notes | $			$ 0.9
ESPP | For the first 100 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase price of common shares as a percentage on its market value		85.00%
ESPP | For the next 900 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase price of common shares as a percentage on its market value		100.00%
ESPP | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for purchase under the plan		1,000,000

Employee benefit plans and c_12

Employee benefit plans and compensation plans - Transaction and retention bonuses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Employee benefit plans and compensation plans
Transaction bonuses recognized		$ 36.9
Amount received from former parent for transaction and retention bonuses	$ 25.3	30.5
Retention bonuses recorded	$ 13.3	$ 17.6

Common shareholder's equity, _2

Common shareholder's equity, mezzanine equity, and non controlling interests - Common shareholder (Details) $ / shares in Units, $ in Millions	Nov. 05, 2018USD ($)$ / sharesshares	Apr. 27, 2016$ / sharesshares	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2017USD ($)shares	Dec. 31, 2016USD ($)shares	Apr. 26, 2016$ / shares
Common shareholder
Common shares authorized			500,000,000
Common shares par value | $ / shares		$ 0.01	$ 0.01			$ 1
Changes in common shareholders' equity
Shares issued beginning of the year			120,000,000	120,000,000	12,000
Shares outstanding beginning of the year			120,000,000
Issuance of shares (See Note 3) (in shares)			4,670,531
Shares redeemed (See Note 3) (in shares)			(9,519,280)
Stock split (in shares) (1)					119,988,000
Shares issued end of the year		120,000,000	115,151,251	120,000,000	120,000,000
Shares outstanding end of the year		120,000,000	115,151,251	120,000,000
Stock split, share multiplied value		10,000
Value of shares redeemed | $	$ 164
Common dividends paid | $			$ 0	$ 0	$ 27
Series B preference shares
Common shareholder
Preferred shares authorized	15,000,000		15,000,000
Preferred shares par value | $ / shares	$ 0.01		$ 0.01

Common shareholder's equity, _3

Common shareholder's equity, mezzanine equity, and non controlling interests - Mezzanine equity (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2018	Nov. 05, 2018	Dec. 31, 2017
Series B preference shares
Mezzanine equity
Preferred shares authorized	15,000,000	15,000,000
Preferred shares par value	$ 0.01	$ 0.01
Redeemable preference shares with accrued dividend carrying value	$ 232.2
Preferential rights, Minimum gross proceeds from the issuance of senior or pari passu shares	$ 100
Series B preference shares | Private Placement | Preference Share Investors
Mezzanine equity
Share subscriptions (in shares)		11,901,670
Series A redeemable preference shares
Mezzanine equity
Redeemable preference shares with accrued dividend carrying value			$ 106.1
Redeemable preference shares outstanding		100,000
Redemption amount of preference shares		$ 95
Gain on redemption of preference shares		$ 13.8
Series A redeemable preference shares | IMGAH
Mezzanine equity
Number of convertible preferred shares issued as a consideration	100,000
Preferred shares authorized	150,000
Redeemable preference share liquidation preference per share (in dollars per share)	$ 1,000

Common shareholder's equity, _4

Common shareholder's equity, mezzanine equity, and non controlling interests - Non-controlling interests (Details) - USD ($) $ / shares in Units, $ in Millions	Oct. 25, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Change in non-controlling interest
Balance at beginning		$ 0.2	$ 251.3	$ 250.1
Net (income) loss attributable to non-controlling interests		1.4	13.7	19.3
Dividends to non-controlling interests			(14.1)	(18.8)
Other, net		(0.1)	(250.7)	0.7
Balance at end		$ 1.7	0.2	$ 251.3
Stock redeemed (in shares)		9,519,280
Perpetual Non-Cumulative Preferred Shares | Sirius International Group, Ltd
Change in non-controlling interest
Stock redeemed (in shares)	250,000
Preferred stock redemption price per share (In dollars per share)	$ 1,000
Alstead Re
Change in non-controlling interest
Balance at beginning		$ 0.2
Balance at end		$ 1.7	$ 0.2

Earnings per share (Details)

Earnings per share (Details) $ / shares in Units, $ in Millions	Apr. 27, 2016shares	Dec. 31, 2018$ / sharesshares	Sep. 30, 2018$ / shares	Jun. 30, 2018$ / shares	Mar. 31, 2018$ / shares	Dec. 31, 2017$ / sharesshares	Sep. 30, 2017$ / shares	Jun. 30, 2017$ / shares	Mar. 31, 2017$ / shares	Dec. 31, 2018USD ($)$ / sharesshares	Dec. 31, 2017USD ($)$ / sharesshares	Dec. 31, 2016USD ($)$ / sharesshares	Dec. 31, 2015shares
Numerator:
Net (loss) income										$ (16.7)	$ (136.3)	$ 51.8
Less: Income attributable to non-controlling interests										(1.4)	(13.7)	(19.3)
Less: Accrued dividends on Series A redeemable preference shares										(2.6)	(6.1)
Less: Change in carrying value of Series B preference shares										(36.4)
Add: Redemption of Series A redeemable preference shares										(13.8)
Net income (loss) available to Sirius Group common shareholders										$ (43.3)	$ (156.1)	$ 32.5
Denominator:
Weighted average shares outstanding for basic and diluted earnings per share | shares										119,253,924	120,000,000	120,000,000
Earnings per share
Basic earnings per share | $ / shares		$ (1.31)	$ (0.23)	$ 0.78	$ 0.32	$ 0.13	$ (1.49)	$ (0.01)	$ 0.06	$ (0.36)	$ (1.30)	$ 0.27
Diluted earnings per share | $ / shares		$ (1.31)	$ (0.23)	$ 0.78	$ 0.32	$ 0.13	$ (1.49)	$ (0.01)	$ 0.06	$ (0.36)	$ (1.30)	$ 0.27
Stock split, share multiplied value	10,000
Common shares issued | shares	120,000,000	115,151,251				120,000,000				115,151,251	120,000,000	120,000,000	12,000
Common shares outstanding | shares	120,000,000	115,151,251				120,000,000				115,151,251	120,000,000
potentially dilutive securities | shares										23,433,114	0	0

Accumulated other comprehensi_3

Accumulated other comprehensive (loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Accumulated other comprehensive (loss)
Balance, beginning of period	$ (140.5)	$ (212.2)	$ (146.1)
Other comprehensive (loss)	(61.9)	71.7	(66.1)
Balance, end of period	(202.4)	(140.5)	(212.2)
Foreign currency translation adjustment
Accumulated other comprehensive (loss)
Balance, beginning of period	(140.5)	(212.2)	(144.9)
Other comprehensive (loss)	(61.9)	71.7	(67.3)
Balance, end of period	$ (202.4)	$ (140.5)	(212.2)
Other, net
Accumulated other comprehensive (loss)
Balance, beginning of period			(1.2)
Other comprehensive (loss)			$ 1.2

Statutory capital and surplus (

Statutory capital and surplus (Details) £ in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)subsidiary	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2019GBP (£)	Dec. 31, 2019USD ($)
Bermuda
Statutory and capital surplus
Number of subsidiaries | subsidiary	2
Actual statutory capital and surplus	$ 2,200
Bermuda | Sirius Bermuda
Statutory and capital surplus
Solvency Capital Requirement	902
Bermuda | Alstead Re
Statutory and capital surplus
Solvency Capital Requirement	3
Sweden
Statutory and capital surplus
Solvency Capital Requirement	1,300
Actual statutory capital and surplus	$ 1,700
U.K. | Sirius International Corporate Member Ltd
Statutory and capital surplus
Ownership percentage	100.00%
Lloyd's approved net capacity				£ 80.8	$ 103
United States | Sirius America
Statutory and capital surplus
Actual statutory capital and surplus	$ 522.2	$ 521.8
Statutory net (loss) income	(9.9)	(6.4)	$ 82.7
NAIC risk based capital authorized control level	93.4
United States | Oakwood
Statutory and capital surplus
Actual statutory capital and surplus	40.5	41.4
Statutory net (loss) income	(1.1)	0.5	(12)
NAIC risk based capital authorized control level	5
United States | Empire
Statutory and capital surplus
Solvency Capital Requirement	8.8
Actual statutory capital and surplus	10.7	10.5
Statutory net (loss) income	0.1	$ (0.3)	$ 0
NAIC risk based capital authorized control level	1
United States | WRM America
Statutory and capital surplus
Solvency Capital Requirement	9.8
Actual statutory capital and surplus	13.9
Statutory net (loss) income	(0.6)
NAIC risk based capital authorized control level	$ 0.1

Statutory capital and surplus -

Statutory capital and surplus - Dividend Capacity, Capital Maintenance and Safety Reserve (Details) $ in Millions, kr in Billions	Apr. 18, 2016USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2018SEK (kr)	Dec. 31, 2018USD ($)
Dividend Capacity
Dividends paid	$ 27
Net unrestricted cash, short term investments, and fixed maturity investments						$ 52.1
Capital Maintenance
Ceded premiums earned		$ 406.5	$ 312.6	$ 339.2
Safety Reserve
Statutory tax rate (as a percent)			21.00%
Swedish Tax Authority
Safety Reserve
Statutory tax rate (as a percent)		22.00%	22.00%	22.00%
Sirius Bermuda
Dividend Capacity
Percentage of regulatory capital available for distribution without prior approval of regulatory authorities		25.00%
Amount available for dividend payments						539.3
Minimum number of days before, capital to be transferred		7 days
Sirius America
Dividend Capacity
Percentage of statutory surplus available for dividend payments without regulatory approval		10.00%
Earned surplus						$ 108.4
Capital Maintenance
Statutory risk-based capital required (as a percent)					125.00%	125.00%
Maximum contribution as per capital maintenance agreement						$ 200
Minimum accident year stop-loss coverage attachment point percentage		83.00%
Accident year stop-loss coverage limit		$ 27
Percentage of reinsurance ceded					75.00%	75.00%
Ceded premiums earned		9	$ 115
Sirius International
Dividend Capacity
Amount available for dividend payments						$ 373.4
Dividends paid		$ 20.3
Safety Reserve
Safety reserve					kr 10.7	1,200
Amount equal to the deferred tax liability on the safety reserve that is included in solvency capital						261.1
United States | Sirius America
Dividend Capacity
Actual statutory capital and surplus			$ 521.8			$ 522.2

Investments in unconsolidated_3

Investments in unconsolidated entities - Other long-term investments (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Investments in unconsolidated entities
Other long-term investments	$ 365	$ 269.5
Investments in unconsolidated entities
Investments in unconsolidated entities
Other long-term investments	365	269.5
Equity method investments	0	0
Investments in unconsolidated entities | Equity method eligible investments
Investments in unconsolidated entities
Other long-term investments	169.4	121.2
Investments in unconsolidated entities | Equity method ineligible investments
Investments in unconsolidated entities
Other long-term investments	$ 195.6	$ 148.3

Investments in unconsolidated_4

Investments in unconsolidated entities - Equity method unconsolidated entities (Details) - Investments in unconsolidated entities - Equity method eligible investments	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
BE Reinsurance Limited
Investments in unconsolidated entities
Ownership interest	25.00%	25.00%
BioVentures Investors (Offshore) IV LP
Investments in unconsolidated entities
Ownership interest	73.00%	73.00%
Camden Partners Strategic Fund V (Cayman), LP
Investments in unconsolidated entities
Ownership interest	36.40%	36.50%
NEC Cypress Buyer LLC
Investments in unconsolidated entities
Ownership interest	13.30%	23.50%
New Energy Capital Infrastructure Credit Fund LP
Investments in unconsolidated entities
Ownership interest	22.90%	23.30%
New Energy Capital Infrastructure Offshore Credit Fund LP
Investments in unconsolidated entities
Ownership interest	54.90%	56.20%
Scion G7, LP
Investments in unconsolidated entities
Ownership interest	28.80%
Tuckerman Capital V LP
Investments in unconsolidated entities
Ownership interest	47.60%	48.30%
Tuckerman Capital V Co-Investment I LP
Investments in unconsolidated entities
Ownership interest	47.70%	49.50%

Investments in unconsolidated_5

Investments in unconsolidated entities - Summarized Financial Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Balance sheet data:
Total assets	$ 503.5	$ 336.7
Total liabilities	71.6	31.2
Income statement data:
Revenues	42.8	38.1	$ 21.6
Expenses	$ (14.9)	$ (12.2)	$ (14.1)

Investments in unconsolidated_6

Investments in unconsolidated entities - Equity Method Eligible Affiliates, OneBeacon (Details) - USD ($) $ in Millions	Apr. 18, 2016	Mar. 31, 2016	Apr. 18, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Mar. 31, 2016
Increase (Decrease) in Equity Method Investment [Roll Forward]
Equity in earnings of unconsolidated affiliates, net of tax						$ 6.6
OneBeacon balance sheet data:
Total assets				$ 503.5	$ 336.7
Total liabilities				71.6	31.2
Income statement data:
Total revenues				42.8	38.1	21.6
Total expenses				$ 14.9	$ 12.2	14.1
OneBeacon
Investments in unconsolidated entities
Proceeds from sale of investments	$ 178.3		$ 178.3
Additional paid-in surplus for the excess of fair value over the equity method carrying value	22.1		22.1
Increase (Decrease) in Equity Method Investment [Roll Forward]
Equity method carrying value of investment in OneBeacon as of December 31, 2015		$ 151.9	151.9			151.9
Equity in earnings of unconsolidated affiliates, net of tax			6.6
Dividends received			(3)
Other, net			0.7
Proceeds received for the sale of OneBeacon	(178.3)		(178.3)
Excess of fair value received over equity method carrying value of OneBeacon	$ 22.1		22.1
Equity method carrying value of investment in OneBeacon as of April 18, 2016		2,562.1
OneBeacon balance sheet data:
Total investments		151.9	$ 151.9			$ 151.9	$ 2,562.1
Total assets							3,529
Unpaid loss and loss adjustment expense reserves							1,343.8
Long-term debt							272.9
Total liabilities							2,509.2
Total non-controlling interests							3.2
Common shareholder's equity							$ 1,016.6
Income statement data:
Net premiums earned		278.6
Net investment income		14.4
Total revenues		310.5
Loss and loss adjustment expenses		158.8
Total expenses		272.3
Net income		$ 46.4

Variable interest entities (Det

Variable interest entities (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Assets:
Fixed maturity investments, at fair value	$ 1,949.2	$ 2,180
Short-term investments, at fair value	715.5	625
Cash	119.4	215.8
Accrued investment income	14.1	14.1
Insurance and reinsurance premiums receivable	630.6	543.6
Funds held by ceding companies	186.8	153.2
Deferred acquisition costs	141.6	120.9	$ 84.7	$ 74.6
Total assets	6,007.7	5,823.6
Liabilities
Total unpaid loss and LAE reserves	2,016.7	1,898.5	$ 1,620.1	$ 1,644.4
Unearned insurance and reinsurance premiums	647.2	506.8
Other liabilities	150.5	176.8
Total liabilities	4,069.3	3,800.3
Alstead Re
Assets:
Fixed maturity investments, at fair value	4
Short-term investments, at fair value	0.3
Cash	0.2	4.5
Total investments	4.5	4.5
Accrued investment income	0.1
Insurance and reinsurance premiums receivable	3.7	4.1
Funds held by ceding companies	5.2	2.7
Deferred acquisition costs	0.9	1.3
Total assets	14.4	12.6
Liabilities
Total unpaid loss and LAE reserves	4.6	3.5
Unearned insurance and reinsurance premiums	3.7	4.3
Total liabilities	$ 8.3	$ 7.8

Variable interest entities - Un

Variable interest entities - Unconsolidated VIE (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017
Variable interest entities
Other long-term investments	$ 365	$ 269.5
Total assets	6,007.7	5,823.6
Unconsolidated VIE
Variable interest entities
Other long-term investments	209.1	1,378.1
Total assets	209.1	1,378.1
Other long-term investments
Variable interest entities
Other long term investments	135.1	165.6
Total assets	135.1	165.6
On-Balance Sheet
Variable interest entities
Other long term investments	103.1	108.2
Total assets	103.1	108.2
Off-Balance Sheet
Variable interest entities
Other long term investments	32	57.4
Total assets	$ 32	$ 57.4

Transactions with related par_2

Transactions with related parties (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Transactions with related parties
Gross written premiums	$ 1,821	$ 1,439.3	$ 1,269
Receivables due from affiliates	14.3	10.4
Payables due to affiliates		0.5
Insurance and MGU affiliates, or their subsidiaries
Transactions with related parties
Gross written premiums	$ 67.9	$ 3.5
White Mountains Advisors
Transactions with related parties
Investment Fees			$ 3.1

Commitments and contingencies -

Commitments and contingencies - Gross reinsurance premiums written (Details) - item	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Gross written premium by intermediary
Number of reinsurance intermediaries	3	3	3
Gross written premium by intermediary	54.00%	50.00%	48.00%
AON Corporation and subsidiaries
Gross written premium by intermediary
Gross written premium by intermediary	26.00%	22.00%	22.00%
Guy Carpenter & Company and subsidiaries
Gross written premium by intermediary
Gross written premium by intermediary	18.00%	18.00%	18.00%
WT Butler and Co. Ltd
Gross written premium by intermediary
Gross written premium by intermediary	10.00%	10.00%	8.00%

Commitments and contingencies_2

Commitments and contingencies - Geographic Concentration (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Third party reinsurance
Net written premiums	$ 1,357.1	$ 1,090.2	$ 938.1
United States
Third party reinsurance
Net written premiums	794.7	563.1	463
Europe
Third party reinsurance
Net written premiums	276.5	262.3	258.9
Canada, the Caribbean, Bermuda and Latin America
Third party reinsurance
Net written premiums	103.6	111.4	88.3
Asia and Other
Third party reinsurance
Net written premiums	$ 182.3	$ 153.4	$ 127.9

Commitments and contingencies_3

Commitments and contingencies - Lloyd's Central Fund (Details) - Lloyd's Central Fund $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)
Gross written premium by intermediary
Contribution to Lloyd's Central Fund	$ 0.6
Contribution to Lloyd's Central Fund as percent of gross written premium	0.35%
Maximum additional contribution that may be levied, as a percentage of capacity.	3.00%

Commitments and contingencies_4

Commitments and contingencies - Leases (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Leases
2019	$ 10.4
2020	9.2
2021	7.6
2022	6.8
2023 and after	6.1
Total	40.1
Rent expense	$ 11.7	$ 10.2	$ 6.2

Unaudited condensed quarterly_3

Unaudited condensed quarterly financial data (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Unaudited condensed quarterly financial data
Total revenues	$ 336.8	$ 351.7	$ 441.8	$ 327.5	$ 362.6	$ 293	$ 252.6	$ 225.9	$ 1,457.8	$ 1,134.1	$ 994.5
Total expenses	482.3	386.3	292.4	273.1	305.8	478.1	240.2	219.9	1,434.1	1,244	956.6
Net (loss) income attributable to Sirius Group's common shareholders	$ (153.6)	$ (28)	$ 97.8	$ 40.5	$ 16	$ (179)	$ (0.8)	$ 7.7	$ (43.3)	$ (156.1)	$ 32.5
Basic earnings per common share and common share equivalent	$ (1.31)	$ (0.23)	$ 0.78	$ 0.32	$ 0.13	$ (1.49)	$ (0.01)	$ 0.06	$ (0.36)	$ (1.30)	$ 0.27
Diluted earnings per common share and common share equivalent	$ (1.31)	$ (0.23)	$ 0.78	$ 0.32	$ 0.13	$ (1.49)	$ (0.01)	$ 0.06	$ (0.36)	$ (1.30)	$ 0.27

Schedule I - Summary of Inves_2

Schedule I - Summary of Investments - Other Than Investments in Related Parties (Details) $ in Millions	Dec. 31, 2018USD ($)
Summary of investments - other than investments in related parties
Cost or amortized cost	$ 3,416
Fair value	3,409.7
Amount shown on the balance sheet	3,409.7
Fixed maturity investments
Summary of investments - other than investments in related parties
Cost or amortized cost	1,952.9
Fair value	1,949.2
Amount shown on the balance sheet	1,949.2
Corporate debt securities
Summary of investments - other than investments in related parties
Cost or amortized cost	694.1
Fair value	695.8
Amount shown on the balance sheet	695.8
Asset-backed securities
Summary of investments - other than investments in related parties
Cost or amortized cost	496.3
Fair value	494.5
Amount shown on the balance sheet	494.5
Residential mortgage-backed securities
Summary of investments - other than investments in related parties
Cost or amortized cost	413
Fair value	413.5
Amount shown on the balance sheet	413.5
Commercial mortgage-backed securities
Summary of investments - other than investments in related parties
Cost or amortized cost	163.9
Fair value	167.9
Amount shown on the balance sheet	167.9
Non-U.S. government and government agency
Summary of investments - other than investments in related parties
Cost or amortized cost	50.6
Fair value	50.3
Amount shown on the balance sheet	50.3
U.S. government and government agency
Summary of investments - other than investments in related parties
Cost or amortized cost	117.7
Fair value	115.9
Amount shown on the balance sheet	115.9
Preferred stocks
Summary of investments - other than investments in related parties
Cost or amortized cost	14.5
Fair value	8.5
Amount shown on the balance sheet	8.5
U.S. States, municipalities, and political subdivision
Summary of investments - other than investments in related parties
Cost or amortized cost	2.8
Fair value	2.8
Amount shown on the balance sheet	2.8
Short-term investments
Summary of investments - other than investments in related parties
Cost or amortized cost	716.1
Fair value	715.5
Amount shown on the balance sheet	715.5
Total equity securities
Summary of investments - other than investments in related parties
Cost or amortized cost	409.4
Fair value	380
Amount shown on the balance sheet	380
Other long-term investments
Summary of investments - other than investments in related parties
Cost or amortized cost	337.6
Fair value	365
Amount shown on the balance sheet	$ 365

Schedule II - Condensed Finan_2

Schedule II - Condensed Financial Information of Registrant - Balance Sheets (Details) - USD ($) $ in Millions	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Apr. 27, 2016	Dec. 31, 2015
Assets
Fixed maturity investments, at fair value	$ 1,949.2	$ 2,180
Short-term investments, at fair value	715.5	625
Cash	119.4	215.8
Other assets	124	82
Total assets	6,007.7	5,823.6
Liabilities
Other liabilities	150.5	176.8
Total liabilities	4,069.3	3,800.3
Commitments and Contingencies
Mezzanine equity
Total mezzanine equity	232.2	106.1
Common shareholders' equity
Common shares (shares issued and outstanding: 2018: 115,151,251; 2017: 120,000,000)	1.2	1.2
Additional paid-in surplus	1,089.1	1,197.9
Retained earnings	816.6	858.4
Accumulated other comprehensive (loss)	(202.4)	(140.5)	$ (212.2)		$ (146.1)
Total common shareholders equity	1,704.5	1,917
Total liabilities, mezzanine equity, and equity	6,007.7	5,823.6
Balance Sheet (Parenthetical)
Short-term investments, amortized cost (in dollars)	$ 716.1	$ 625.3
Shares issued	115,151,251	120,000,000	120,000,000	120,000,000	12,000
Shares outstanding	115,151,251	120,000,000		120,000,000
Registrant
Assets
Fixed maturity investments, at fair value	$ 2.8	$ 3.9
Short-term investments, at fair value	5.3	30.8
Total investments	8.1	34.7
Cash		0.1
Investments in unconsolidated affiliates	1,911.2	2,030.4
Other assets	42.5	1.1
Total assets	1,961.8	2,066.3
Liabilities
Other liabilities	25.1	43.2
Total liabilities	25.1	43.2
Commitments and Contingencies
Mezzanine equity
Total mezzanine equity	232.2	106.1
Common shareholders' equity
Common shares (shares issued and outstanding: 2018: 115,151,251; 2017: 120,000,000)	1.2	1.2
Additional paid-in surplus	1,089.1	1,197.9
Retained earnings	816.6	858.4
Accumulated other comprehensive (loss)	(202.4)	(140.5)
Total common shareholders equity	1,704.5	1,917
Total liabilities, mezzanine equity, and equity	1,961.8	2,066.3
Balance Sheet (Parenthetical)
Short-term investments, amortized cost (in dollars)	5.3	30.8
Series B preference shares
Mezzanine equity
Preference shares	232.2
Series B preference shares | Registrant
Mezzanine equity
Preference shares	$ 232.2
Series A redeemable preference shares
Mezzanine equity
Preference shares		106.1
Series A redeemable preference shares | Registrant
Mezzanine equity
Preference shares		$ 106.1

Schedule II - Condensed Finan_3

Schedule II - Condensed Financial Information of Registrant - Statements of (Loss) Income (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenues
Net investment income (losses)									$ 71.4	$ 56.8	$ 56.2
Net realized investment (losses) gains									2.3	(27.2)	288.3
Net unrealized investment gains (losses)									(23.2)	(10.5)	(238.2)
Net foreign exchange (losses)									22.7	9.2	(11)
Gain on revaluation of contingent consideration									9.6	48.8
Other revenue									112.7	21.7	9.1
Total revenues	$ 336.8	$ 351.7	$ 441.8	$ 327.5	$ 362.6	$ 293	$ 252.6	$ 225.9	1,457.8	1,134.1	994.5
Expenses
Other underwriting expenses									146.2	106.1	107.3
General and administrative expenses									77.9	91.9	85.1
Total expenses	482.3	386.3	292.4	273.1	305.8	478.1	240.2	219.9	1,434.1	1,244	956.6
Income (loss) before equity earnings of unconsolidated affiliates, net of tax									(16.7)	(136.3)	45.2
Equity in earnings of unconsolidated affiliates, net of tax											6.6
Net (loss) income attributable to Sirius Group									(18.1)	(150)	32.5
Less: Accrued dividends on Series A redeemable preference shares									(2.6)	(6.1)
Less: Change in carrying value of Series B preference shares									(36.4)
Add: Redemption of Series A redeemable preference shares									13.8
Net (loss) income attributable to Sirius Group's common shareholders	$ (153.6)	$ (28)	$ 97.8	$ 40.5	$ 16	$ (179)	$ (0.8)	$ 7.7	(43.3)	(156.1)	32.5
Registrant
Revenues
Net investment income (losses)									0.5	0.3	(0.2)
Net realized investment (losses) gains										0.2	0.3
Net unrealized investment gains (losses)										12.8	(0.1)
Net foreign exchange (losses)										(0.2)
Gain on revaluation of contingent consideration									6.1	13.6
Other revenue									41.4	0.9
Total revenues									48	27.6
Expenses
Other underwriting expenses										(0.2)
General and administrative expenses									13.6	13	36.6
Total expenses									13.6	12.8	36.6
Income (loss) before equity earnings of unconsolidated affiliates, net of tax									34.4	14.8	(36.6)
Equity in earnings of unconsolidated affiliates, net of tax									(52.5)	(164.8)	69.1
Net (loss) income attributable to Sirius Group									(18.1)	(150)	32.5
Less: Accrued dividends on Series A redeemable preference shares									(2.6)	(6.1)
Less: Change in carrying value of Series B preference shares									(36.4)
Add: Redemption of Series A redeemable preference shares									13.8
Net (loss) income attributable to Sirius Group's common shareholders									$ (43.3)	$ (156.1)	$ 32.5

Schedule II - Condensed Finan_4

Schedule II - Condensed Financial Information of Registrant - Statements of Comprehensive (Loss) Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Comprehensive income
Net (loss) income attributable to Sirius Group	$ (18.1)	$ (150)	$ 32.5
Other comprehensive (loss) income
Change in foreign currency translation, net of tax	(61.9)	71.7	(67.3)
Net change in other, net of tax			1.2
Comprehensive (loss) attributable to Sirius Group	(80)	(78.3)	(33.6)
Registrant
Comprehensive income
Net (loss) income attributable to Sirius Group	(18.1)	(150)	32.5
Other comprehensive (loss) income
Change in foreign currency translation, net of tax	(61.9)	71.7	(67.3)
Net change in other, net of tax			1.2
Comprehensive (loss) attributable to Sirius Group	$ (80)	$ (78.3)	$ (33.6)

Schedule II - Condensed Finan_5

Schedule II - Condensed Financial Information of Registrant - Statements of Cash Flows (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operations:
Net (loss) income attributable to Sirius Group	$ (16.7)	$ (136.3)	$ 51.8
Adjustments to reconcile net (loss) income to net cash provided from (used for) operations:
Equity in earnings of subsidiaries			(6.6)
Net realized and unrealized investment gains	20.9	37.7	(50.1)
Amortization of premium on fixed maturity investments	5.8	16.6	21.1
Share-based Compensation	2
Revaluation of contingent consideration	(9.6)	(48.8)
Other operating items:
Net change in other assets and liabilities, net	(89.2)	(50.3)	(6.6)
Net cash provided from (used for) operations	108	(36)	(46.8)
Cash flows from investing activities:
Net change in short-term investments	(90.1)	(1)	(202.7)
Sales of fixed maturities and convertible fixed maturity investments	1,373.1	1,422.4	2,454.7
Sales of common equity securities	353.1	87.6	851.6
Purchases of common equity securities	(505.7)	(222.3)	(232.7)
Purchases of fixed maturities and convertible fixed maturity investments	(1,321.3)	(1,018.5)	(3,192.3)
Net cash (used for) provided from investing activities	(189.9)	66	18.5
Cash flows from financing activities:
Capital contribution from former parent	1.4	13.3	89.6
Proceeds from issuance of common shares, net of expenses	61.2
Redemption of common shares from CM Bermuda	(164)
Return of capital to CM Bermuda	(1.6)
Payment of contingent consideration	(4.4)	(30.6)
Cash dividends paid to former parent			(27)
Net cash (used for) provided from financing activities	(6.6)	53.6	30.9
Net (decrease) increase in cash during year	(98.4)	93.5	(6.8)
Cash and restricted cash balance at beginning of year	230.6	137.1	143.9
Cash and restricted cash balance at end of year	132.2	230.6	137.1
Registrant
Cash flows from operations:
Net (loss) income attributable to Sirius Group	(18.1)	(150)	32.5
Adjustments to reconcile net (loss) income to net cash provided from (used for) operations:
Equity in earnings of subsidiaries	52.5	164.8	(69.1)
Dividends received from subsidiaries	150	110	20
Net realized and unrealized investment gains		(13)	(0.2)
Amortization of premium on fixed maturity investments	(0.3)	(0.1)
Share-based Compensation	2
Revaluation of contingent consideration	(6.1)	(13.6)
Other operating items:
Net change in other assets and liabilities, net	(57.5)	12.6	(6.8)
Net cash provided from (used for) operations	122.5	110.7	(23.6)
Cash flows from investing activities:
Net change in short-term investments	25.6	2.5	(4.5)
Sales of fixed maturities and convertible fixed maturity investments	65.9	1.1	16.3
Sales of common equity securities		59.6	3.2
Purchases of common equity securities		(54.4)	(8)
Purchases of fixed maturities and convertible fixed maturity investments	(64.9)		(6.3)
Contributions to subsidiaries	(143.5)	(132.7)	(42.1)
Net cash (used for) provided from investing activities	(116.9)	(123.9)	(41.4)
Cash flows from financing activities:
Capital contribution from former parent	1.4	13.3	89.6
Proceeds from issuance of common shares, net of expenses	61.2
Proceeds from issuance of Series B preference shares	195.8
Redemption of common shares from CM Bermuda	(164)
Return of capital to CM Bermuda	(1.6)
Redemption of Series A redeemable preference shares	(95)
Payment of contingent consideration	(3.5)
Cash dividends paid to former parent			(27)
Net cash (used for) provided from financing activities	(5.7)	13.3	62.6
Net (decrease) increase in cash during year	(0.1)	0.1	(2.4)
Cash and restricted cash balance at beginning of year	$ 0.1		$ 2.4
Cash and restricted cash balance at end of year		$ 0.1

Schedule III - Supplementary _2

Schedule III - Supplementary Insurance Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Supplementary Insurance Information
Deferred acquisition costs	$ 141.6	$ 120.9	$ 84.7
Loss and loss adjustment expense reserves	2,016.7	1,898.5	1,620.1
Unearned insurance and reinsurance premiums	647.2	506.8	398
Net earned insurance and reinsurance premiums	1,262.3	1,035.3	890.1
Loss and Loss Adjustment Expenses	900	811.2	519.3
Insurance and reinsurance acquisition costs	255.4	197.2	210.3
Other Underwriting Expenses	146.2	106.1	107.3
Net Written Insurance and Reinsurance Premiums	1,357.1	1,090.2	938.1
Corporate Elimination
Supplementary Insurance Information
Loss and Loss Adjustment Expenses	13
Insurance and reinsurance acquisition costs	(43.7)	(42.9)
Other Underwriting Expenses	16.1
Global Property | Reportable segments
Supplementary Insurance Information
Deferred acquisition costs	44.1	43.5	43.5
Loss and loss adjustment expense reserves	910.6	759.6	506.6
Unearned insurance and reinsurance premiums	252	195.7	171.3
Net earned insurance and reinsurance premiums	636	564.4	481.8
Loss and Loss Adjustment Expenses	528.7	512.4	268.5
Insurance and reinsurance acquisition costs	121.1	112.9	100.3
Other Underwriting Expenses	68.2	63.3	65.1
Net Written Insurance and Reinsurance Premiums	655	556.2	514.2
Global A&H | Reportable segments
Supplementary Insurance Information
Deferred acquisition costs	54	49.1	24.4
Loss and loss adjustment expense reserves	197.9	206.2	158.3
Unearned insurance and reinsurance premiums	224.8	195.8	122.5
Net earned insurance and reinsurance premiums	357.6	306.8	272.2
Loss and Loss Adjustment Expenses	194.9	179.8	171.6
Insurance and reinsurance acquisition costs	109.7	89.6	71.7
Other Underwriting Expenses	27.4	23.4	23.3
Net Written Insurance and Reinsurance Premiums	379.8	341.5	277.6
Specialty & Casualty | Reportable segments
Supplementary Insurance Information
Deferred acquisition costs	43.5	28.2	18.3
Loss and loss adjustment expense reserves	323.4	304.5	314
Unearned insurance and reinsurance premiums	170.4	115	85.3
Net earned insurance and reinsurance premiums	239.5	163.2	135.2
Loss and Loss Adjustment Expenses	148.8	104.9	75.6
Insurance and reinsurance acquisition costs	65.5	41.1	37.7
Other Underwriting Expenses	28.2	16.5	15.1
Net Written Insurance and Reinsurance Premiums	292.7	193	137.4
Runoff & Other | Reportable segments
Supplementary Insurance Information
Deferred acquisition costs		0.1	(1.5)
Loss and loss adjustment expense reserves	584.8	628.2	641.2
Unearned insurance and reinsurance premiums		0.3	18.9
Net earned insurance and reinsurance premiums	29.2	0.9	0.9
Loss and Loss Adjustment Expenses	14.6	14.1	3.6
Insurance and reinsurance acquisition costs	2.8	(3.5)	0.6
Other Underwriting Expenses	6.3	2.9	3.8
Net Written Insurance and Reinsurance Premiums	$ 29.6	$ (0.5)	$ 8.9

Schedule IV - Reinsurance (Deta

Schedule IV - Reinsurance (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Schedule IV - Reinsurance
Direct gross	$ 454.5	$ 450.2	$ 368.5
Ceded to other companies	463.9	349.1	330.9
Assumed from other companies	1,366.5	989.1	900.5
Net amount	$ 1,357.1	$ 1,090.2	$ 938.1
Percentage of amount assumed to net	101.00%	91.00%	96.00%

Schedule V - Valuation and Qu_2

Schedule V - Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Allowance for reinsurance balances
Valuation and Qualifying Accounts
Balance at the beginning of period	$ 5.8	$ 5.8	$ 5.4
Charged to other accounts	(0.1)
Deductions described			0.4
Balance at the end of period	5.7	5.8	5.8
Allowance for uncollectible accounts
Valuation and Qualifying Accounts
Balance at the beginning of period	4.6	5.3	4
Charged to costs and expenses		(0.5)	1.1
Charged to other accounts	(0.2)	(0.5)
Deductions described	(0.1)	0.3	0.2
Balance at the end of period	$ 4.3	$ 4.6	$ 5.3

Schedule VI - Insurance Opera_2

Schedule VI - Insurance Operations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Schedule III - Insurance Information
Deferred acquisition costs	$ 141.6	$ 120.9	$ 84.7
Loss and loss adjustment expense reserves	2,016.7	1,898.5	1,620.1
Unearned insurance and reinsurance premiums	647.2	506.8	398
Net earned insurance and reinsurance premiums	1,262.3	1,035.3	890.1
Net investment income	71.4	56.8	56.2
Loss and loss expenses incurred related to current year	907.3	811.8	583
Loss and loss expenses incurred related to prior year	(7.3)	(0.6)	(63.7)
Net paid losses and loss expenses	791.7	612.3	548.3
Insurance and reinsurance acquisition costs	255.4	197.2	210.3
Net premiums written	$ 1,357.1	$ 1,090.2	$ 938.1