Years Ended December 31,

2014

2013

2012

2011

2010

Income (loss) before income taxes

$

245.3

$

210.5

$

227.9

$

(115.8

)

$

210.7

Less: net income attributable to non-controlling interests

(24.1

)

(6.1

)

—

—

—

Income (loss) before income taxes available to the Company

$

221.2

$

204.4

$

227.9

$

(115.8

)

$

210.7

Fixed Charges:

Assumed interest component of rent expense (1/3 rent/lease)

$

1.5

$

1.5

$

1.5

$

1.6

$

2.0

Interest on Senior Notes

14.1

14.1

15.1

14.0

14.0

Interest on Trust Preferred Securities

4.1

4.1

4.3

5.3

8.7

Total fixed charges

$

19.7

$

19.7

$

20.9

$

20.9

$

24.7

Preferred share dividends of the Company

13.3

13.3

13.3

9.1

—

Total combined fixed charges and preferred share dividends

$

33.0

$

33.0

$

34.2

$

30.0

$

24.7

Income (loss) before income taxes and extraordinary item plus fixed charges

$

240.9

$

224.1

$

248.8

$

(94.9

)

$

235.4

RATIO OF EARNINGS TO FIXED CHARGES

12.2

11.4

11.9

—

9.5

RATIO OF EARNINGS TO COMBINED FIXED CHARGES AND PREFERRED SHARE DIVIDENDS

7.3

6.8

7.3

—

9.5

For the year ended December 31, 2011, earnings were insufficient to cover fixed charges and combined fixed charges and preferred share dividends by $115.8 million and $124.9 million, respectively. This was the result of significant natural catastrophe losses incurred during that year.