Reserves for Losses and Loss Adjustment Expenses (Tables)

6 Months Ended

Jun. 30, 2017

Insurance [Abstract]

Reserves for Losses and Loss Adjustment Expenses

The following table provides a reconciliation of reserves for losses and loss adjustment expenses (“LAE”):

	For the Six Months Ended June 30,
(in millions)	2017			2016
Net reserves beginning of the year	$	2,180.2		$	2,133.3
Net Maybrooke reserves acquired		132.6			—
Add:
Losses and LAE incurred during current calendar    year, net of reinsurance:
Current accident year		447.4			404.1
Prior accident years		5.7			(15.9	)
Losses and LAE incurred during calendar year,    net of reinsurance		453.1			388.2
Deduct:
Losses and LAE payments made during current    calendar year, net of reinsurance:
Current accident year		88.9			65.3
Prior accident years		290.8			300.1
Losses and LAE payments made during current    calendar year, net of reinsurance:		379.7			365.4
Change in participation interest (1)		(23.2	)		(36.3	)
Foreign exchange adjustments		1.8			4.4
Net reserves - end of period		2,364.8			2,124.2
Add:
Reinsurance recoverables on unpaid losses and    LAE, end of year		1,268.0			1,057.7
Gross reserves - end of period	$	3,632.8		$	3,181.9

⁽¹⁾ Amount represents decreases in reserves due to change in syndicate participation

Impact from Unfavorable (Favorable) Development of Prior Accident Years’ Loss and LAE Reserves on Each Reporting Segment

The impact from the unfavorable (favorable) development of prior accident years’ loss and LAE reserves on each reporting segment is presented below:

	For the Six Months Ended June 30,
(in millions)	2017			2016
U.S. Operations	$	(18.0	)	$	(11.9	)
International Operations		19.6			(10.2	)
Run-off Lines		4.1			6.2
Total unfavorable (favorable) prior-year development	$	5.7		$	(15.9	)