Rendering

Component: (Network and Table)
Network
2306301 - Disclosure - Fair Value Of Financial Instruments (Tables)
(http://www.awac.com/role/FairValueOfFinancialInstrumentsTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Reporting Entity [Axis]0001163348 (http://www.sec.gov/CIK)
Fair Value Disclosures [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Fair Value Disclosures [Abstract]
 
Fair value hierarchy and related disclosures
The following table shows the fair value of the Company’s financial instruments and where in the fair value hierarchy the fair value measurements are included as of the dates indicated below:
December 31, 2016
Carrying
amount

Total fair
value

Level 1

Level 2

Level 3
ASSETS:
 
 
 
 
 
 
 
 
 
Fixed maturity investments:









U.S. government and government agencies
$
1,426.0


$
1,426.0


$
1,379.6


$
46.4


$
—

Non-U.S. government and government agencies
469.9


469.9


—


469.9


—

States, municipalities and political subdivisions
354.1


354.1


—


354.1


—

Corporate debt:
 
 
 
 
 
 
 
 
 
Financial institutions
1,032.7

 
1,032.7

 
—

 
1,031.2

 
1.5

Industrials
1,321.3

 
1,321.3

 
—

 
1,321.3

 
—

Utilities
140.0

 
140.0

 
—

 
140.0

 
—

Mortgage-backed:
 
 
 
 
 
 
 
 
 
   Agency mortgage-backed
614.5

 
614.5

 
—

 
475.9

 
138.7

   Non-agency residential mortgage-backed
23.9

 
23.9

 
—

 
23.9

 
—

   Commercial mortgage-backed
598.0

 
598.0

 
—

 
598.0

 
—

Asset-backed
757.3


757.3





697.8


59.5

Total fixed maturity investments
6,737.7


6,737.7


1,379.6

 
5,158.5

 
199.7

Equity securities
243.9


243.9


219.2


—


24.7

Other invested assets(1)
897.8


897.8


—


—


—

Total investments
7,879.4


7,879.4


1,598.8


5,158.5


224.4

Derivative assets:









Foreign exchange contracts
10.4


10.4


—


10.4


—

Insurance contracts
7.4


7.4


—


—


7.4

LIABILITIES:
 
 
 
 
 
 
 
 
 
Derivative liabilities:









Foreign exchange contracts
0.1


0.1


—


0.1


—

Reinsurance contracts
4.0


4.0


—


—


4.0

Senior notes
794.2


827.1


—


827.1


—

Other long-term debt
$
22.0

 
$
26.7

 
$
—

 
$
26.7

 
$
—


December 31, 2015
Carrying
amount
 
Total fair
value
 
Level 1
 
Level 2
 
Level 3
ASSETS:
 
 
 
 
 
 
 
 
 
Fixed maturity investments:
 
 
 
 
 
 
 
 
 
U.S. government and government agencies
$
1,434.0

 
$
1,434.0

 
$
1,396.4

 
$
37.6

 
$
—

Non-U.S. government and government agencies
556.8

 
556.8

 
—

 
556.8

 
—

States, municipalities and political subdivisions
413.5

 
413.5

 
—

 
413.5

 
—

Corporate debt
 
 
 
 
 
 
 
 
 
Financial institutions
1,275.4

 
1,275.4

 
—

 
1,275.4

 
—

Industrials
1,308.1

 
1,308.1

 
—

 
1,308.1

 
—

Utilities
118.9

 
118.9

 
—

 
118.9

 
—

Mortgage-backed
 
 
 
 
 
 
 
 
 
   Agency mortgage-backed
751.8

 
751.8

 
—

 
650.8

 
101.1

   Non-agency residential mortgage-backed
34.0

 
34.0

 
—

 
29.0

 
5.0

   Commercial mortgage-backed
582.8

 
582.8

 
—

 
582.8

 
—

Asset-backed
726.2

 
726.2

 
—

 
663.2

 
63.0

Total fixed maturity investments
7,201.5

 
7,201.5

 
1,396.4

 
5,636.1

 
169.1

Equity securities
403.0

 
403.0

 
403.0

 
—

 
—

Other invested assets(1)
840.2

 
840.2

 
—

 
—

 
—

Total investments
8,444.7

 
8,444.7

 
1,799.4

 
5,636.1

 
169.1

Derivative assets:
 
 
 
 
 
 
 
 
 
Foreign exchange contracts
0.1

 
0.1

 
—

 
0.1

 
—

LIABILITIES:
 
 
 
 
 
 
 
 
 
Derivative liabilities:
 
 
 
 
 
 
 
 
 
Foreign exchange contracts
3.0

 
3.0

 
—

 
3.0

 
—

Interest rate swaps
0.5

 
0.5

 
—

 
0.5

 
—

Senior notes
1,292.9

 
1,337.9

 
—

 
1,337.9

 
—

Other long-term debt
$
23.0

 
$
27.7

 
$
—

 
$
27.7

 
$
—

  
Fair value measurements using significant unobservable inputs (Level 3)
The following is a rollforward of the beginning and ending balance of financial instruments using significant unobservable inputs (Level 3):
 
 
 
Fair value measurements using significant unobservable inputs (Level 3):
 
Corporate Debt - Financial Institutions
 
Agency
MBS
 
Non-agency
RMBS
 
CMBS
 
Asset-backed

Equities
 
Insurance
contracts
 
Reinsurance
contracts
Balance at December 31, 2014
$
—

 
$
180.1

 
$
—

 
$
1.7

 
$
55.4


$
43.3

 
$
—

 
$
—

Realized and unrealized gains (losses) included in net income
—

 
(1.0
)
 
(0.1
)
 
0.1

 
(6.1
)

3.5

 
—

 
—

Purchases
—

 
17.7

 
5.2

 
1.8

 
18.4


—

 
—

 
—

Sales
—

 
(95.7
)
 
(0.1
)
 
(3.6
)
 
(23.1
)

(46.8
)
 
—

 
—

Transfers into Level 3 from Level 2
—

 
—

 
—

 
—

 
37.3


—

 
—

 
—

Transfers out of Level 3 into Level 2(1)
—

 
—

 
—

 
—

 
(18.9
)

—

 
—

 
—

Balance at December 31, 2015
$
—

 
$
101.1

 
$
5.0

 
$
—

 
$
63.0


$
—

 
$
—

 
$
—

Realized and unrealized gains (losses) included in net income
—

 
(6.4
)
 
—

 
—

 
3.1

 
8.1

 
7.4

 
(4.0
)
Purchases
1.5

 
212.6

 
—

 
—

 
31.2

 
16.6

 
—

 
—

Sales
—

 
(175.3
)
 
—

 
—

 
(27.2
)
 
—

 
—

 
—

Transfers into Level 3 from Level 2
—

 
6.7

 
—

 
—

 
8.0

 
—

 
—

 
—

Transfers out of Level 3 into Level 2(1)
—

 
—

 
(5.0
)
 
—

 
(18.6
)
 
—

 
—

 
—

Balance at December 31, 2016
$
1.5

 
$
138.7

 
$
—

 
$
—

 
$
59.5

 
$
24.7

 
$
7.4

 
$
(4.0
)
Realized and unrealized losses (gains) included in net income for investments still held as of December 31, 2016
$
—

 
$
(6.4
)
 
$
—

 
$
—

 
$
1.9

 
$
8.1

 
$
7.4

 
$
(4.0
)
Realized and unrealized gains (losses) included in net income for investments still held as of December 31, 2015
$
—

 
$
(1.5
)
 
$
(0.1
)
 
$
—

 
$
(0.3
)
 
$
—

 
$
—

 
$
—

 (1) Transfers out of Level 3 are primarily attributable to the availability of market observable information.