42 table of contents the growth of our fully diluted book value per share over the last 10 years is shown in the table below . the table below summarizes the calculation of our fully diluted book value per ordinary share as of december 31 , 2020 and 2019 : replace_table_token_3_th ( 1 ) there are warrants outstanding to acquire 175,901 series c non-voting ordinary shares for an exercise price of $ 115.00 per share , subject to certain adjustments ( the `` warrants `` ) . the warrants were issued in april 2011 and expire in april 2021. the warrant holder may , at its election , satisfy the exercise price of the warrants on a cashless basis by surrender of shares otherwise issuable upon exercise of the warrants in accordance with a formula set forth in the warrants . ( 2 ) ordinary shares outstanding includes voting and non-voting shares but excludes ordinary shares held in the enstar group limited employee benefit trust ( the `` eb trust `` ) in respect of awards made under our joint share ownership plan , a sub-plan to our amended and restated 2016 equity incentive plan ( the `` jsop `` ) . ( 3 ) share-based dilutive securities include restricted shares , restricted share units , and performance share units ( `` psus `` ) . the amounts for psus , and for ordinary shares held in the eb trust in respect of the jsop , are adjusted at the end of each period end to reflect the latest estimated performance multipliers for the respective awards . the jsop shares did not have a dilutive effect as of december 31 , 2020 . 43 table of contents non-gaap financial measure in addition to presenting net earnings ( losses ) attributable to enstar ordinary shareholders and diluted earnings ( losses ) per ordinary share determined in accordance with u.s. gaap , we believe that presenting non-gaap operating income ( loss ) attributable to enstar ordinary shareholders and non-gaap diluted operating income ( loss ) per ordinary share provides investors with valuable measures of our performance . non-gaap operating income ( loss ) attributable to enstar ordinary shareholders is calculated by the addition or subtraction of certain items from within our consolidated statements of earnings to or from net earnings ( loss ) attributable to enstar ordinary shareholders , the most directly comparable gaap financial measure , as illustrated in the table below , for the years ending december 31 , 2020 , 2019 and 2018 : replace_table_token_4_th ( 1 ) represents the net realized and unrealized gains and losses related to fixed maturity securities recognized in net earnings ( losses ) . our fixed maturity securities are held directly on our balance sheet and also within the `` funds held - directly managed `` balance . refer to note 6 - `` investments `` in the notes to our consolidated financial statements included within item 8 of this annual report on form 10-k for further details on our net realized and unrealized gains and losses . ( 2 ) represents an aggregation of the tax expense or benefit associated with the specific country to which the pre-tax adjustment relates , calculated at the applicable jurisdictional tax rate . ( 3 ) represents the impact of the adjustments on the net earnings ( loss ) attributable to noncontrolling interest associated with the specific subsidiaries to which the adjustments relate . ( 4 ) non-gaap financial measure . ( 5 ) during a period of loss , the basic weighted average ordinary shares outstanding is used in the denominator of the diluted loss per ordinary share computation as the effect of including potentially dilutive securities would be anti-dilutive . 44 table of contents basis of non-gaap operating income ( loss ) financial measure our non-gaap measure shown above , as defined in item 10 ( e ) of regulation s-k , enables readers of the consolidated financial statements to analyze our results in a way that is more aligned with the manner in which our management measures our underlying performance . we believe that presenting this non-gaap financial measure , which may be defined and calculated differently by other companies , improves the understanding of our consolidated results of operations . this measure should not be viewed as a substitute for those calculated in accordance with u.s. gaap . non-gaap operating income ( loss ) is net earnings attributable to enstar ordinary shareholders excluding : ( i ) net realized and unrealized ( gains ) losses on fixed maturity investments and funds held - directly managed included in net earnings ( loss ) ; ( ii ) change in fair value of insurance contracts for which we have elected the fair value option ; ( iii ) gain ( loss ) on sale of subsidiaries , if any ; ( iv ) net earnings ( loss ) from discontinued operations , if any ; ( v ) tax effect of these adjustments , where applicable ; and ( vi ) attribution of share of adjustments to noncontrolling interest , where applicable . we eliminate the impact of net realized and unrealized ( gains ) losses on fixed maturity investments and funds held - directly managed and change in fair value of insurance contracts for which we have elected the fair value option because these items are subject to significant fluctuations in fair value from period to period , driven primarily by market conditions and general economic conditions , and therefore their impact on our earnings is not reflective of the performance of our core operations . we eliminate the impact of gain ( loss ) on sale of subsidiaries and net earnings ( loss ) on discontinued operations because these are not reflective of the performance of our core operations . story_separator_special_tag to our other investments results in 2019. for a reconciliation of non-gaap operating income attributable to enstar ordinary shareholders to net earnings attributable to enstar ordinary shareholders calculated in accordance with gaap , see `` non-gaap financial measures `` above . results of operations by segment - for the years ended december 31 , 2020 , 2019 and 2018 we have three reportable segments of business that are each managed , operated and reported on separately : ( i ) non-life run-off ; ( ii ) atrium ; and ( iii ) starstone . our other activities , which do not qualify as a reportable segment , include our corporate expenses , debt servicing costs , preferred share dividends , holding company income and expenses , foreign exchange and other miscellaneous items . for a description of our segments , see `` item 1. business - operating segments . `` as discussed in item 1. business - company overview and note 5 - `` divestitures , held-for-sale businesses and discontinued operations `` in the notes to our consolidated financial statements included within item 8 of this annual report on form 10-k , the strategic transactions related to our atrium and starstone segments will enable us to focus on our core non-life run-off business . we will review and assess our segment structure in 2021 to reflect the changes to the starstone and atrium segments in the fourth quarter of 2020 and the first quarter of 2021 , respectively . 49 table of contents the below table provides a split by operating segment of the net earnings attributable to enstar ordinary shareholders for the years ended december 31 , 2020 , 2019 and 2018 : replace_table_token_6_th the following is a discussion of our results of operations by segment . non-life run-off segment for a description of our non-life run-off segment , see `` item 1. business - operating segments - non-life run-off . `` the following is a discussion and analysis of the results of operations for our non-life run-off segment . replace_table_token_7_th ( 1 ) comparability between periods is impacted by the current period net incurred losses and lae as acquired unearned premium is earned , and by changes in fair value due to the election of the fair value option on certain business . refer to net incurred losses and lae table for further details . ( 2 ) this includes amounts relating to both fixed income securities and other investments . we have historically accounted for our fixed income securities as a trading portfolio , whereby unrealized amounts are reflected in earnings . however , from october 1 , 2019 , we have elected to use afs accounting and , as trading fixed income securities mature or are disposed of , to the extent the proceeds are reinvested in fixed income securities , the investments will be classified as afs securities for the non-life run-off segment . 50 table of contents overall results 2020 versus 2019 : net earnings attributable to the non-life run-off segment increased by $ 806.3 million , primarily due to : an increase in net realized and unrealized gains of $ 659.2 million . net realized and unrealized gains in 2020 were driven by an increase in the valuation of our other investments , predominantly in a hedge fund in the current period as discussed below in the `` investment results - consolidated `` section ; an increase in earnings from equity method investments of $ 182.4 million , driven primarily by our investments in enhanzed re and monument re ; and an increase in other income of $ 65.1 million largely driven by changes in actuarial estimates in defendant asbestos and environmental liabilities ; partially offset by , an increase in net underwriting losses of $ 50.9 million . an analysis of the components of the segment 's net earnings is shown below . investment results are separately discussed below in the `` investments results - consolidated `` section . net premiums earned : the following table shows the gross and net premiums written and earned for the non-life run-off segment . replace_table_token_8_th since business in this segment is in run-off , our general expectation is for premiums associated with legacy business to decline in future periods . however , the actual amount in any particular year will be impacted by new transactions during the year and the run-off of unearned premiums from transactions completed in recent years . premiums earned in this segment are generally offset by net incurred losses and lae related to the premiums . premiums earned may be higher than premiums written as we may acquire or assume unearned premium without the writing of gross premiums . 2020 versus 2019 : net premiums earned in 2020 were primarily related to the amtrust ritc transactions assumed in 2019 , whereas premiums written and earned in 2019 were primarily related to the run-off business assumed as a result of the amtrust ritc transactions and the acquisition of maiden reinsurance north america , inc. ( `` maiden re north america `` ) . 51 table of contents net incurred losses and lae : the following table shows the components of net incurred losses and lae for the non-life run-off segment . replace_table_token_9_th ( 1 ) comprises the movement during the year in specific case reserve liabilities as a result of claims settlements or changes advised to us by our policyholders and attorneys , less changes in case reserves recoverable advised by us to our reinsurers as a result of the settlement or movement of assumed claims . ( 2 ) represents the gross change in our actuarial estimates of ibnr , less amounts recoverable . ( 3 ) represents the change in the estimate of the total future costs to administer the claims . ( 4 ) relates to the amortization of deferred charge assets and deferred gain liabilities on retroactive reinsurance contracts . ( 5 ) relates to the amortization of

cash flows the following table summarizes our consolidated cash flows provided by ( used in ) operating , investing and financing activities . replace_table_token_35_th details of our consolidated cash flows are included in `` item 8. financial statements and supplementary data - consolidated statements of cash flows for the years ended december 31 , 2020 , 2019 and 2018 '' of this annual report on form 10-k. 2020 versus 2019 : cash and cash equivalents increased by $ 540.5 million in 2020 compared to $ 73.2 million during 2019 . 74 table of contents cash and cash equivalents increased by $ 540.5 million in 2020 , as cash provided by operating and financing activities of $ 2.8 billion and $ 117.4 million , respectively , was partially offset by cash used in investing activities of $ 2.3 billion . cash provided by operations in 2020 was predominantly driven by : ( i ) the proceeds from net sales and maturities of trading securities of $ 1.7 billion ; and ( ii ) cash and restricted cash acquired in non-life run-off reinsurance transactions of $ 1.6 billion ; partially offset by the timing of paid losses . cash provided by financing activities in 2020 was primarily attributable to net inflows of $ 179.5 million from loan obligations , partially offset by share repurchases and preferred share dividends . cash used in investing activities in 2020 primarily related to net purchases of afs securities of $ 1.9 billion and net subscriptions of other investments of $ 380.3 million . change in cash of business held-for-sale is due to the classification of the assets and liabilities of northshore as held-for-sale as of december 31 , 2020 and the disposal of starstone u.s. cash and cash equivalents increased by $ 73.2 million in 2019 , as cash provided by operating and financing activities of $ 1.4 billion and $ 248.5 million , respectively , was partially offset by cash used in investing activities of $ 1.6 billion .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```cash flows the following table summarizes our consolidated cash flows provided by ( used in ) operating , investing and financing activities . replace_table_token_35_th details of our consolidated cash flows are included in `` item 8. financial statements and supplementary data - consolidated statements of cash flows for the years ended december 31 , 2020 , 2019 and 2018 '' of this annual report on form 10-k. 2020 versus 2019 : cash and cash equivalents increased by $ 540.5 million in 2020 compared to $ 73.2 million during 2019 . 74 table of contents cash and cash equivalents increased by $ 540.5 million in 2020 , as cash provided by operating and financing activities of $ 2.8 billion and $ 117.4 million , respectively , was partially offset by cash used in investing activities of $ 2.3 billion . cash provided by operations in 2020 was predominantly driven by : ( i ) the proceeds from net sales and maturities of trading securities of $ 1.7 billion ; and ( ii ) cash and restricted cash acquired in non-life run-off reinsurance transactions of $ 1.6 billion ; partially offset by the timing of paid losses . cash provided by financing activities in 2020 was primarily attributable to net inflows of $ 179.5 million from loan obligations , partially offset by share repurchases and preferred share dividends . cash used in investing activities in 2020 primarily related to net purchases of afs securities of $ 1.9 billion and net subscriptions of other investments of $ 380.3 million . change in cash of business held-for-sale is due to the classification of the assets and liabilities of northshore as held-for-sale as of december 31 , 2020 and the disposal of starstone u.s. cash and cash equivalents increased by $ 73.2 million in 2019 , as cash provided by operating and financing activities of $ 1.4 billion and $ 248.5 million , respectively , was partially offset by cash used in investing activities of $ 1.6 billion .
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 Suspicious Activity Report : 42 table of contents the growth of our fully diluted book value per share over the last 10 years is shown in the table below . the table below summarizes the calculation of our fully diluted book value per ordinary share as of december 31 , 2020 and 2019 : replace_table_token_3_th ( 1 ) there are warrants outstanding to acquire 175,901 series c non-voting ordinary shares for an exercise price of $ 115.00 per share , subject to certain adjustments ( the `` warrants `` ) . the warrants were issued in april 2011 and expire in april 2021. the warrant holder may , at its election , satisfy the exercise price of the warrants on a cashless basis by surrender of shares otherwise issuable upon exercise of the warrants in accordance with a formula set forth in the warrants . ( 2 ) ordinary shares outstanding includes voting and non-voting shares but excludes ordinary shares held in the enstar group limited employee benefit trust ( the `` eb trust `` ) in respect of awards made under our joint share ownership plan , a sub-plan to our amended and restated 2016 equity incentive plan ( the `` jsop `` ) . ( 3 ) share-based dilutive securities include restricted shares , restricted share units , and performance share units ( `` psus `` ) . the amounts for psus , and for ordinary shares held in the eb trust in respect of the jsop , are adjusted at the end of each period end to reflect the latest estimated performance multipliers for the respective awards . the jsop shares did not have a dilutive effect as of december 31 , 2020 . 43 table of contents non-gaap financial measure in addition to presenting net earnings ( losses ) attributable to enstar ordinary shareholders and diluted earnings ( losses ) per ordinary share determined in accordance with u.s. gaap , we believe that presenting non-gaap operating income ( loss ) attributable to enstar ordinary shareholders and non-gaap diluted operating income ( loss ) per ordinary share provides investors with valuable measures of our performance . non-gaap operating income ( loss ) attributable to enstar ordinary shareholders is calculated by the addition or subtraction of certain items from within our consolidated statements of earnings to or from net earnings ( loss ) attributable to enstar ordinary shareholders , the most directly comparable gaap financial measure , as illustrated in the table below , for the years ending december 31 , 2020 , 2019 and 2018 : replace_table_token_4_th ( 1 ) represents the net realized and unrealized gains and losses related to fixed maturity securities recognized in net earnings ( losses ) . our fixed maturity securities are held directly on our balance sheet and also within the `` funds held - directly managed `` balance . refer to note 6 - `` investments `` in the notes to our consolidated financial statements included within item 8 of this annual report on form 10-k for further details on our net realized and unrealized gains and losses . ( 2 ) represents an aggregation of the tax expense or benefit associated with the specific country to which the pre-tax adjustment relates , calculated at the applicable jurisdictional tax rate . ( 3 ) represents the impact of the adjustments on the net earnings ( loss ) attributable to noncontrolling interest associated with the specific subsidiaries to which the adjustments relate . ( 4 ) non-gaap financial measure . ( 5 ) during a period of loss , the basic weighted average ordinary shares outstanding is used in the denominator of the diluted loss per ordinary share computation as the effect of including potentially dilutive securities would be anti-dilutive . 44 table of contents basis of non-gaap operating income ( loss ) financial measure our non-gaap measure shown above , as defined in item 10 ( e ) of regulation s-k , enables readers of the consolidated financial statements to analyze our results in a way that is more aligned with the manner in which our management measures our underlying performance . we believe that presenting this non-gaap financial measure , which may be defined and calculated differently by other companies , improves the understanding of our consolidated results of operations . this measure should not be viewed as a substitute for those calculated in accordance with u.s. gaap . non-gaap operating income ( loss ) is net earnings attributable to enstar ordinary shareholders excluding : ( i ) net realized and unrealized ( gains ) losses on fixed maturity investments and funds held - directly managed included in net earnings ( loss ) ; ( ii ) change in fair value of insurance contracts for which we have elected the fair value option ; ( iii ) gain ( loss ) on sale of subsidiaries , if any ; ( iv ) net earnings ( loss ) from discontinued operations , if any ; ( v ) tax effect of these adjustments , where applicable ; and ( vi ) attribution of share of adjustments to noncontrolling interest , where applicable . we eliminate the impact of net realized and unrealized ( gains ) losses on fixed maturity investments and funds held - directly managed and change in fair value of insurance contracts for which we have elected the fair value option because these items are subject to significant fluctuations in fair value from period to period , driven primarily by market conditions and general economic conditions , and therefore their impact on our earnings is not reflective of the performance of our core operations . we eliminate the impact of gain ( loss ) on sale of subsidiaries and net earnings ( loss ) on discontinued operations because these are not reflective of the performance of our core operations . story_separator_special_tag to our other investments results in 2019. for a reconciliation of non-gaap operating income attributable to enstar ordinary shareholders to net earnings attributable to enstar ordinary shareholders calculated in accordance with gaap , see `` non-gaap financial measures `` above . results of operations by segment - for the years ended december 31 , 2020 , 2019 and 2018 we have three reportable segments of business that are each managed , operated and reported on separately : ( i ) non-life run-off ; ( ii ) atrium ; and ( iii ) starstone . our other activities , which do not qualify as a reportable segment , include our corporate expenses , debt servicing costs , preferred share dividends , holding company income and expenses , foreign exchange and other miscellaneous items . for a description of our segments , see `` item 1. business - operating segments . `` as discussed in item 1. business - company overview and note 5 - `` divestitures , held-for-sale businesses and discontinued operations `` in the notes to our consolidated financial statements included within item 8 of this annual report on form 10-k , the strategic transactions related to our atrium and starstone segments will enable us to focus on our core non-life run-off business . we will review and assess our segment structure in 2021 to reflect the changes to the starstone and atrium segments in the fourth quarter of 2020 and the first quarter of 2021 , respectively . 49 table of contents the below table provides a split by operating segment of the net earnings attributable to enstar ordinary shareholders for the years ended december 31 , 2020 , 2019 and 2018 : replace_table_token_6_th the following is a discussion of our results of operations by segment . non-life run-off segment for a description of our non-life run-off segment , see `` item 1. business - operating segments - non-life run-off . `` the following is a discussion and analysis of the results of operations for our non-life run-off segment . replace_table_token_7_th ( 1 ) comparability between periods is impacted by the current period net incurred losses and lae as acquired unearned premium is earned , and by changes in fair value due to the election of the fair value option on certain business . refer to net incurred losses and lae table for further details . ( 2 ) this includes amounts relating to both fixed income securities and other investments . we have historically accounted for our fixed income securities as a trading portfolio , whereby unrealized amounts are reflected in earnings . however , from october 1 , 2019 , we have elected to use afs accounting and , as trading fixed income securities mature or are disposed of , to the extent the proceeds are reinvested in fixed income securities , the investments will be classified as afs securities for the non-life run-off segment . 50 table of contents overall results 2020 versus 2019 : net earnings attributable to the non-life run-off segment increased by $ 806.3 million , primarily due to : an increase in net realized and unrealized gains of $ 659.2 million . net realized and unrealized gains in 2020 were driven by an increase in the valuation of our other investments , predominantly in a hedge fund in the current period as discussed below in the `` investment results - consolidated `` section ; an increase in earnings from equity method investments of $ 182.4 million , driven primarily by our investments in enhanzed re and monument re ; and an increase in other income of $ 65.1 million largely driven by changes in actuarial estimates in defendant asbestos and environmental liabilities ; partially offset by , an increase in net underwriting losses of $ 50.9 million . an analysis of the components of the segment 's net earnings is shown below . investment results are separately discussed below in the `` investments results - consolidated `` section . net premiums earned : the following table shows the gross and net premiums written and earned for the non-life run-off segment . replace_table_token_8_th since business in this segment is in run-off , our general expectation is for premiums associated with legacy business to decline in future periods . however , the actual amount in any particular year will be impacted by new transactions during the year and the run-off of unearned premiums from transactions completed in recent years . premiums earned in this segment are generally offset by net incurred losses and lae related to the premiums . premiums earned may be higher than premiums written as we may acquire or assume unearned premium without the writing of gross premiums . 2020 versus 2019 : net premiums earned in 2020 were primarily related to the amtrust ritc transactions assumed in 2019 , whereas premiums written and earned in 2019 were primarily related to the run-off business assumed as a result of the amtrust ritc transactions and the acquisition of maiden reinsurance north america , inc. ( `` maiden re north america `` ) . 51 table of contents net incurred losses and lae : the following table shows the components of net incurred losses and lae for the non-life run-off segment . replace_table_token_9_th ( 1 ) comprises the movement during the year in specific case reserve liabilities as a result of claims settlements or changes advised to us by our policyholders and attorneys , less changes in case reserves recoverable advised by us to our reinsurers as a result of the settlement or movement of assumed claims . ( 2 ) represents the gross change in our actuarial estimates of ibnr , less amounts recoverable . ( 3 ) represents the change in the estimate of the total future costs to administer the claims . ( 4 ) relates to the amortization of deferred charge assets and deferred gain liabilities on retroactive reinsurance contracts . ( 5 ) relates to the amortization of

