v3.26.1
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($)
Total
Ordinary shares
 [1]
Preference shares
Additional paid-in capital (1)
Retained earnings
Retained earnings
Ordinary shares
Retained earnings
Preference shares
Cumulative foreign currency translation adjustments:
Unrealized (depreciation)/appreciation on available for sale investments:
Gain on derivatives, net of taxes
Net change from current period hedged transactions, net of income tax
Increase (Decrease) in Stockholders' Equity [Roll Forward]                      
Equity, Including Portion Attributable to Noncontrolling Interest   $ 100,000 $ 753,500,000 [2] $ 761,700,000 [1] $ 1,349,000,000     $ (186,900,000) $ (333,200,000) $ 13,800,000  
Preference shares redeemed     0                
Shares issued     0                
Share-based compensation       0              
Net income/(loss) for the year $ 534,700,000                    
Dividends           $ (40,300,000)          
Dividends on preference shares 49,900,000                    
Preference share redemption costs             $ 0        
Change for the year, net of income taxes 105,600,000             14,400,000 105,600,000    
Net change from current period hedged transactions                     $ (14,000,000.0)
Equity, Including Portion Attributable to Noncontrolling Interest 2,908,500,000 100,000 753,500,000 [2],[3] 761,700,000 [1] 1,793,500,000     (172,500,000) (227,600,000) (200,000)  
Total accumulated other comprehensive (loss)/income (400,300,000)                    
Preference shares redeemed     0                
Shares issued     217,000,000.0                
Share-based compensation       0              
Net income/(loss) for the year 486,100,000                    
Dividends           (195,000,000.0)          
Dividends on preference shares 54,900,000                    
Preference share redemption costs             0        
Change for the year, net of income taxes 29,400,000             (14,100,000) 29,400,000    
Net change from current period hedged transactions                     (5,100,000)
Equity, Including Portion Attributable to Noncontrolling Interest 3,371,900,000 100,000 970,500,000 [2],[3] 761,700,000 [1] 2,029,700,000     (186,600,000) (198,200,000) (5,300,000)  
Total accumulated other comprehensive (loss)/income (390,100,000)                    
Preference shares redeemed     (270,600,000)                
Shares issued     0                
Share-based compensation       41,700,000              
Net income/(loss) for the year 340,200,000                    
Dividends (45,451,400)         $ 0          
Dividends on preference shares 45,500,000                    
Preference share redemption costs             $ (4,400,000)        
Change for the year, net of income taxes 136,900,000             49,800,000 136,900,000    
Net change from current period hedged transactions                     $ 5,100,000
Equity, Including Portion Attributable to Noncontrolling Interest 3,625,100,000 $ 100,000 $ 699,900,000 [3] $ 803,400,000 [1] $ 2,320,000,000     $ (136,800,000) $ (61,300,000) $ (200,000)  
Total accumulated other comprehensive (loss)/income $ (198,300,000)                    
[1] Ordinary shares and additional paid-in capital have been retroactively adjusted to reflect the Ordinary Share Exchange, for all periods presented. Refer to Note 12, “Capital Structure” for further details.
[2] Preference shares of $725.0 million, less issuance costs of $25.1 million (December 31, 2024 — $1,000.0 million and $29.5 million, December 31, 2023 — $775.0 million and $21.5 million).
(3)    On January 1, 2025, the Company redeemed its 5.95% Fixed-to-Floating Rate Perpetual Non-Cumulative Preference Shares, representing an aggregate amount of $275.0 million, plus a reclassification adjustment of $4.4 million between retained earnings and preference shares which represents the difference between the capital raised upon issuance, net of issuance costs, and the final redemption cost.
[3] reference shares of $725.0 million, less issuance costs of $25.1 million (December 31, 2024 — $1,000.0 million and $29.5 million, December 31, 2023 — $775.0 million and $21.5 million).