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Reserves for Losses and Loss Adjustment Expenses (Tables)

12 Months Ended

Dec. 31, 2019

Reserves for Losses and Loss Adjustment Expenses

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



	For the Years Ended December 31,
(in millions)	2019			2018			2017
Net reserves beginning of the year	$	2,562.9		$	2,488.0		$	2,180.2
Net Maybrooke reserves acquired	—			—			131.8
Net reserves acquired	—			43.4			—
Add:
Losses and LAE incurred during current calendar year, net of reinsurance:
Current accident year	1,082.6			1,058.8			1,058.4
Prior accident years	138.1			(18.0		)	(8.2		)
Losses and LAE incurred during calendar year, net of reinsurance	1,220.7			1,040.8			1,050.2
Deduct:
Losses and LAE payments made during current calendar year, net of reinsurance:
Current accident year	224.3			273.3			289.6
Prior accident years	806.0			665.6			599.8
Losses and LAE payments made during current calendar year, net of reinsurance:	1,030.3			938.9			889.4
Change in participation interest ⁽¹⁾	(14.4		)	(25.5		)	(23.2		)
Foreign exchange adjustments	(16.2		)	(44.9		)	38.4
Net reserves - end of period	2,722.7			2,562.9			2,488.0
Add:
Reinsurance recoverables on unpaid losses and LAE, end of period	2,434.9			2,091.7			1,713.0
Gross reserves - end of period	$	5,157.6		$	4,654.6		$	4,201.0

⁽¹⁾Amount represents (decrease) increase in reserves due to change in our Syndicate 1200 and Syndicate 1910 participation.

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

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



	For the Years Ended December 31,
(in millions)	2019		2018			2017
U.S. Operations	$	15.7	$	(20.8	)	$	(38.7	)
International Operations	110.4		(9.5		)	13.2
Run-off Lines	12.0		12.3			17.3
Total unfavorable (favorable) prior-year development	$	138.1	$	(18.0	)	$	(8.2	)

Summary of Information About Incurred and Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance

The following tables provide information about incurred and cumulative paid losses and allocated loss adjustment expenses (“ALAE”), net of reinsurance. The following tables also include IBNR reserves plus expected development on reported claims and the cumulative number of reported claims as of December 31, 2019.



Reporting Segment: U.S. Operations Operating Division: Excess and Surplus Lines Line of Business: Liability (in millions, except number of claims reported)
	Incurred Losses & ALAE, Net of Reinsurance
Accident Year	For the Years Ended December 31,
	2011 ⁽¹⁾		2012 ⁽¹⁾		2013 ⁽¹⁾		2014 ⁽¹⁾		2015 ⁽¹⁾		2016 ⁽¹⁾		2017 ⁽¹⁾		2018 ⁽¹⁾		2019
2011	$	202.9	$	206.0	$	205.8	$	200.0	$	193.5	$	192.8	$	189.0	$	187.8	$	185.8
2012			189.6		196.0		189.7		183.6		184.4		182.1		182.3		181.0
2013					217.9		222.6		224.3		227.2		220.4		216.0		214.3
2014							213.0		215.2		213.2		211.9		212.3		210.0
2015									232.5		237.1		228.6		226.4		224.8
2016											246.4		250.6		243.1		248.3
2017													253.3		244.3		249.0
2018															278.8		269.5
2019																	269.8
															Total		$	2,052.5

	Cumulative Paid Losses & ALAE, Net of Reinsurance
Accident Year	For the Years Ended December 31,
	2011 ⁽¹⁾		2012 ⁽¹⁾		2013 ⁽¹⁾		2014 ⁽¹⁾		2015 ⁽¹⁾		2016 ⁽¹⁾		2017 ⁽¹⁾		2018 ⁽¹⁾		2019
2011	$	17.6	$	53.8	$	91.0	$	122.9	$	146.6	$	162.4	$	170.0	$	174.4	$	177.5
2012			17.2		52.8		89.1		120.8		142.4		157.5		163.4		170.3
2013					17.6		60.2		100.4		135.2		163.7		179.6		192.2
2014							15.0		52.2		95.9		131.6		154.5		172.8
2015									16.5		51.9		91.4		131.5		162.8
2016											17.4		52.8		95.5		149.5
2017													11.5		38.7		88.0
2018															15.0		47.0
2019																	14.9
															Total		$	1,175.0
Outstanding liabilities for unpaid losses and ALAE prior to 2011, net of reinsurance																	35.5
Total outstanding liabilities for unpaid losses and ALAE, net of reinsurance																	$	913.0



	As of December 31, 2019
Accident Year	Incurred Losses & ALAE, Net of Reinsurance		IBNR & Expected Development on Reported Claims		Cumulative Number of Reported Claims ⁽²⁾
2011	$	185.8	$	3.9	8,490
2012	181.0		5.8		7,453
2013	214.3		11.4		7,397
2014	210.0		19.0		6,684
2015	224.8		32.5		6,306
2016	248.3		59.7		6,038
2017	249.0		92.5		6,251
2018	269.5		163.8		5,852
2019	269.8		207.5		4,199


⁽¹⁾	Information presented for calendar years prior to 2019 is required supplementary information and is unaudited.


⁽²⁾	The cumulative number of reported claims is measured by individual claimant at a coverage level. Reported occurrences that do not result in a liability are included as reported claims.



Reporting Segment: U.S. Operations Operating Division: Specialty Admitted Line of Business: Liability (in millions, except number of claims reported)
	Incurred Losses & ALAE, Net of Reinsurance
Accident Year	For the Years Ended December 31,
	2011 ⁽¹⁾		2012 ⁽¹⁾		2013 ⁽¹⁾		2014 ⁽¹⁾		2015 ⁽¹⁾		2016 ⁽¹⁾		2017 ⁽¹⁾		2018 ⁽¹⁾		2019
2011	$	140.3	$	155.1	$	159.0	$	157.5	$	158.2	$	154.0	$	153.7	$	154.0	$	151.6
2012			140.3		146.3		149.7		153.3		151.5		147.7		146.7		146.2
2013					126.6		133.2		136.7		133.2		131.1		130.6		128.9
2014							115.6		121.9		116.9		114.5		111.5		111.9
2015									107.3		106.7		101.7		102.3		103.1
2016											96.1		99.9		99.3		104.7
2017													121.5		129.5		135.3
2018															147.3		160.9
2019																	151.3
															Total		$	1,193.9

	Cumulative Paid Losses & ALAE, Net of Reinsurance
Accident Year	For the Years Ended December 31,
	2011 ⁽¹⁾		2012 ⁽¹⁾		2013 ⁽¹⁾		2014 ⁽¹⁾		2015 ⁽¹⁾		2016 ⁽¹⁾		2017 ⁽¹⁾		2018 ⁽¹⁾		2019
2011	$	23.2	$	57.5	$	85.9	$	111.3	$	126.1	$	135.1	$	139.8	$	143.1	$	144.0
2012			20.1		51.0		80.7		105.8		120.8		127.9		131.9		135.0
2013					18.9		49.4		74.0		93.6		102.8		109.7		114.7
2014							17.4		38.8		58.7		75.3		86.1		93.5
2015									17.2		35.0		48.8		64.2		73.6
2016											11.1		31.7		48.6		67.6
2017													16.3		44.4		70.9
2018															19.4		51.9
2019																	17.5
															Total		$	768.7
Outstanding liabilities for unpaid losses and ALAE prior to 2011, net of reinsurance																	42.3
Total outstanding liabilities for unpaid losses and ALAE, net of reinsurance																	$	467.5



	As of December 31, 2019
Accident Year	Incurred Losses & ALAE, Net of Reinsurance		IBNR & Expected Development on Reported Claims		Cumulative Number of Reported Claims ⁽²⁾
2011	$	151.6	$	4.4	28,181
2012	146.2		5.1		23,657
2013	128.9		7.0		18,975
2014	111.9		10.1		16,346
2015	103.1		14.2		14,622
2016	104.7		15.1		11,802
2017	135.3		37.2		13,473
2018	160.9		54.6		15,267
2019	151.3		89.4		12,867


⁽¹⁾	Information presented for calendar years prior to 2019 is required supplementary information and is unaudited.


⁽²⁾	The cumulative number of reported claims is measured by individual claimant at a coverage level. Reported occurrences that do not result in a liability are included as reported claims.



Reporting Segment: U.S. Operations Operating Division: Specialty Admitted Line of Business: Professional (in millions, except number of claims reported)
	Incurred Losses & ALAE, Net of Reinsurance
Accident Year	For the Years Ended December 31,
	2011 ⁽¹⁾		2012 ⁽¹⁾		2013 ⁽¹⁾		2014 ⁽¹⁾		2015 ⁽¹⁾		2016 ⁽¹⁾		2017 ⁽¹⁾		2018 ⁽¹⁾		2019
2011	$	—	$	35.0	$	35.0	$	32.5	$	28.2	$	26.9	$	26.6	$	26.0	$	25.8
2012			27.8		28.3		28.6		25.8		24.0		24.5		24.9		24.6
2013					20.9		21.5		21.1		19.0		19.8		19.5		18.3
2014							22.4		22.4		26.0		33.7		36.2		35.4
2015									29.9		29.5		33.2		34.0		37.1
2016											44.2		44.8		45.1		42.9
2017													60.1		61.8		78.3
2018															70.8		73.2
2019																	94.4
															Total		$	430.0

	Cumulative Paid Losses & ALAE, Net of Reinsurance
Accident Year	For the Years Ended December 31,
	2011 ⁽¹⁾		2012 ⁽¹⁾		2013 ⁽¹⁾		2014 ⁽¹⁾		2015 ⁽¹⁾		2016 ⁽¹⁾		2017 ⁽¹⁾		2018 ⁽¹⁾		2019
2011	$	—	$	11.8	$	17.8	$	22.0	$	24.0	$	25.4	$	25.7	$	25.7	$	25.7
2012			2.3		8.6		16.9		19.9		21.4		22.6		23.5		24.2
2013					1.9		6.3		10.9		14.2		17.6		17.5		17.9
2014							2.3		5.4		15.1		24.1		25.5		32.3
2015									1.8		8.3		15.6		20.8		26.2
2016											2.4		11.9		24.6		28.9
2017													3.5		24.9		38.0
2018															4.5		16.7
2019																	4.9
															Total		$	214.8
Outstanding liabilities for unpaid losses and ALAE prior to 2011, net of reinsurance																	1.7
Total outstanding liabilities for unpaid losses and ALAE, net of reinsurance																	$	216.9



	As of December 31, 2019
Accident Year	Incurred Losses & ALAE, Net of Reinsurance		IBNR & Expected Development on Reported Claims		Cumulative Number of Reported Claims ⁽²⁾
2011	$	25.8	$	0.1	820
2012	24.6		0.2		641
2013	18.3		0.3		622
2014	35.4		0.6		1,044
2015	37.1		1.4		1,840
2016	42.9		7.8		3,238
2017	78.3		7.0		3,724
2018	73.2		39.7		4,224
2019	94.4		75.3		4,432


⁽¹⁾	Information presented for calendar years prior to 2019 is required supplementary information and is unaudited.


⁽²⁾	The cumulative number of reported claims is measured by individual claimant at a coverage level. Reported occurrences that do not result in a liability are included as reported claims.



Reporting Segment: U.S. Operations Operating Division: Specialty Admitted Line of Business: Specialty (in millions, except number of claims reported)
	Incurred Losses & ALAE, Net of Reinsurance
Accident Year	For the Years Ended December 31,
	2011 ⁽¹⁾		2012 ⁽¹⁾		2013 ⁽¹⁾		2014 ⁽¹⁾		2015 ⁽¹⁾		2016 ⁽¹⁾		2017 ⁽¹⁾		2018 ⁽¹⁾		2019
2011	$	0.2	$	3.9	$	3.4	$	3.4	$	3.6	$	2.6	$	2.0	$	1.7	$	1.7
2012			7.5		6.7		4.9		4.3		4.0		3.9		3.5		3.6
2013					10.0		8.6		4.6		2.5		1.7		0.9		0.9
2014							13.1		13.1		8.9		6.0		4.8		4.7
2015									14.8		14.3		9.5		5.5		1.2
2016											15.0		15.0		11.2		6.2
2017													16.2		16.2		7.6
2018															20.9		17.4
2019																	22.8
															Total		$	66.1

	Cumulative Paid Losses & ALAE, Net of Reinsurance
Accident Year	For the Years Ended December 31,
	2011 ⁽¹⁾		2012 ⁽¹⁾		2013 ⁽¹⁾		2014 ⁽¹⁾		2015 ⁽¹⁾		2016 ⁽¹⁾		2017 ⁽¹⁾		2018 ⁽¹⁾		2019
2011	$	—	$	1.6	$	1.4	$	1.3	$	1.2	$	1.7	$	1.7	$	1.7	$	1.7
2012			3.6		3.3		3.3		3.3		3.3		3.4		3.3		3.4
2013					0.4		0.9		0.9		0.9		0.9		0.9		0.9
2014							1.1		3.3		4.0		4.0		4.1		4.1
2015									0.2		0.1		0.2		0.3		0.3
2016											1.3		1.6		2.2		2.2
2017													0.3		0.1		—
2018																	0.7
2019																	0.7
															Total		$	14.0
Outstanding liabilities for unpaid losses and ALAE prior to 2011, net of reinsurance																	0.6
Total outstanding liabilities for unpaid losses and ALAE, net of reinsurance																	$	52.7



	As of December 31, 2019
Accident Year	Incurred Losses & ALAE, Net of Reinsurance		IBNR & Expected Development on Reported Claims		Cumulative Number of Reported Claims ⁽²⁾
2011	$	1.7	$	—	80
2012	3.6		0.2		129
2013	0.9		—		50
2014	4.7		0.6		50
2015	1.2		0.9		24
2016	6.2		1.0		57
2017	7.6		7.6		96
2018	17.4		15.3		114
2019	22.8		22.1		122


⁽¹⁾	Information presented for calendar years prior to 2019 is required supplementary information and is unaudited.


⁽²⁾	The cumulative number of reported claims is measured by individual claimant at a coverage level. Reported occurrences that do not result in a liability are included as reported claims.



Reporting Segment: International Operations Operating Division: Reinsurance Line of Business: Property (in millions, except number of claims reported)
	Incurred Losses & ALAE, Net of Reinsurance
Accident Year	For the Years Ended December 31,
	2011 ⁽¹⁾		2012 ⁽¹⁾		2013 ⁽¹⁾		2014 ⁽¹⁾		2015 ⁽¹⁾		2016 ⁽¹⁾		2017 ⁽¹⁾		2018 ⁽¹⁾		2019
2011	$	126.1	$	104.7	$	106.7	$	104.6	$	103.9	$	103.7	$	131.7	$	138.3	$	140.5
2012			47.1		51.3		50.3		51.6		46.4		62.7		66.9		69.3
2013					31.9		33.3		32.8		31.1		32.7		32.1		31.6
2014							26.5		26.5		24.2		35.3		38.1		39.9
2015									27.1		23.4		159.5		155.1		150.2
2016											43.5		48.5		41.1		58.4
2017													157.7		158.0		165.1
2018															68.0		82.7
2019																	61.2
															Total		$	798.9

	Cumulative Paid Losses & ALAE, Net of Reinsurance
Accident Year	For the Years Ended December 31,
	2011 ⁽¹⁾		2012 ⁽¹⁾		2013 ⁽¹⁾		2014 ⁽¹⁾		2015 ⁽¹⁾		2016 ⁽¹⁾		2017 ⁽¹⁾		2018 ⁽¹⁾		2019
2011	$	41.6	$	67.0	$	87.8	$	95.3	$	97.4	$	98.6	$	126.8	$	133.6	$	137.4
2012			12.4		31.1		40.5		49.6		44.0		58.7		64.6		68.1
2013					4.1		16.5		26.3		28.7		30.7		30.8		30.8
2014							2.8		12.6		18.3		36.4		37.0		39.5
2015									4.2		11.0		135.4		142.5		145.9
2016											13.5		27.1		31.1		51.6
2017													84.2		139.6		164.0
2018															24.6		71.5
2019																	8.1
															Total		$	716.9
Outstanding liabilities for unpaid losses and ALAE prior to 2011, net of reinsurance																	3.7
Total outstanding liabilities for unpaid losses and ALAE, net of reinsurance																	$	85.7



	As of December 31, 2019
Accident Year	Incurred Losses & ALAE, Net of Reinsurance		IBNR & Expected Development on Reported Claims			Cumulative Number of Reported Claims ⁽²⁾
2011	$	140.5	$	0.3		460
2012	69.3		—			278
2013	31.6		0.2			222
2014	39.9		0.1			221
2015	150.2		1.3			220
2016	58.4		4.9			384
2017	165.1		(14.5		)	813
2018	82.7		(11.6		)	645
2019	61.2		43.0			133


⁽¹⁾	Information presented for calendar years prior to 2019 is required supplementary information and is unaudited.


⁽²⁾	The cumulative number of reported claims is measured by individual claimant at a coverage level. Reported occurrences that do not result in a liability are included as reported claims.



Reporting Segment: International Operations Operating Division: Argo Insurance Bermuda Line of Business: Liability (in millions, except number of claims reported)
	Incurred Losses & ALAE, Net of Reinsurance
Accident Year	For the Years Ended December 31,
	2011 ⁽¹⁾		2012 ⁽¹⁾		2013 ⁽¹⁾		2014 ⁽¹⁾		2015 ⁽¹⁾		2016 ⁽¹⁾		2017 ⁽¹⁾		2018 ⁽¹⁾		2019
2011	$	6.6	$	6.6	$	6.6	$	4.4	$	2.2	$	1.6	$	1.0	$	—	$	—
2012			7.4		7.4		7.4		5.6		4.4		1.7		—		0.6
2013					8.5		8.5		8.5		8.5		4.9		2.2		5.3
2014							9.8		9.8		9.8		6.2		1.5		2.3
2015									11.3		14.3		24.8		35.4		45.4
2016											13.9		14.0		14.0		6.6
2017													17.1		17.3		26.9
2018															8.9		32.0
2019																	13.3
															Total		$	132.4

	Cumulative Paid Losses & ALAE, Net of Reinsurance
Accident Year	For the Years Ended December 31,
	2011 ⁽¹⁾		2012 ⁽¹⁾		2013 ⁽¹⁾		2014 ⁽¹⁾		2015 ⁽¹⁾		2016 ⁽¹⁾		2017 ⁽¹⁾		2018 ⁽¹⁾		2019
2011	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
2012			—		—		—		—		—		—		—		—
2013					—		—		—		—		2.3		2.3		2.3
2014							—		—		0.1		0.1		1.2		1.2
2015									—		—		16.1		20.3		26.6
2016											—		—		—		0.1
2017													—		3.3		3.4
2018															—		13.8
2019																	—
															Total		$	47.4
Outstanding liabilities for unpaid losses and ALAE prior to 2011, net of reinsurance																	—
Total outstanding liabilities for unpaid losses and ALAE, net of reinsurance																	$	85.0



	As of December 31, 2019
Accident Year	Incurred Losses & ALAE, Net of Reinsurance		IBNR & Expected Development on Reported Claims		Cumulative Number of Reported Claims ⁽²⁾
2011	$	—	$	—	1,425
2012	0.6		0.6		1,385
2013	5.3		1.9		1,194
2014	2.3		0.3		1,338
2015	45.4		6.7		1,583
2016	6.6		6.5		1,907
2017	26.9		4.6		2,035
2018	32.0		13.7		982
2019	13.3		13.3		907


⁽¹⁾	Information presented for calendar years prior to 2019 is required supplementary information and is unaudited.


⁽²⁾	The cumulative number of reported claims is measured by individual claimant at a coverage level. Reported occurrences that do not result in a liability are included as reported claims.



Reporting Segment: International Operations Operating Division: Syndicate 1200 Line of Business: Liability (in millions, except number of claims reported)
	Incurred Losses & ALAE, Net of Reinsurance
Accident Year	For the Years Ended December 31,
	2010 ⁽¹⁾		2011 ⁽¹⁾		2012 ⁽¹⁾		2013 ⁽¹⁾		2014 ⁽¹⁾		2015 ⁽¹⁾		2016 ⁽¹⁾		2017 ⁽¹⁾		2018 ⁽¹⁾		2019
2010	$	5.8	$	4.9	$	4.5	$	6.2	$	6.0	$	5.9	$	5.8	$	5.9	$	5.8	$	6.2
2011			8.2		8.7		11.0		11.1		10.4		10.2		10.7		10.9		11.5
2012					8.6		10.7		14.9		14.2		13.8		14.5		15.0		15.6
2013							22.6		26.7		26.2		24.3		24.2		25.0		26.4
2014									36.9		35.9		33.3		32.2		33.5		35.6
2015											34.1		29.1		28.8		29.1		32.9
2016													25.2		26.2		25.8		28.3
2017															24.4		23.2		26.7
2018																	21.4		19.9
2019																			16.5
																	Total		$	219.6

	Cumulative Paid Losses & ALAE, Net of Reinsurance
Accident Year	For the Years Ended December 31,
	2010 ⁽¹⁾		2011 ⁽¹⁾		2012 ⁽¹⁾		2013 ⁽¹⁾		2014 ⁽¹⁾		2015 ⁽¹⁾		2016 ⁽¹⁾		2017 ⁽¹⁾		2018 ⁽¹⁾		2019
2010	$	—	$	0.2	$	0.6	$	1.1	$	2.0	$	2.8	$	3.8	$	4.1	$	4.4	$	5.1
2011			0.2		0.8		1.7		3.4		5.5		7.0		7.9		8.8		9.8
2012					0.4		1.2		2.5		5.7		8.2		10.0		11.8		12.8
2013							1.5		3.2		7.0		11.3		15.6		19.7		22.5
2014									1.9		4.5		9.8		13.6		20.1		24.6
2015											0.8		5.1		7.3		12.2		17.5
2016													1.8		5.7		10.5		15.1
2017															1.9		6.6		11.0
2018																	2.3		6.6
2019																			1.3
																	Total		$	126.3
Total outstanding liabilities for unpaid losses and ALAE, net of reinsurance																			$	93.3



	As of December 31, 2019
Accident Year	Incurred Losses & ALAE, Net of Reinsurance		IBNR & Expected Development on Reported Claims
2010	$	6.2	$	0.1
2011	11.5		0.5
2012	15.6		0.6
2013	26.4		1.5
2014	35.6		3.7
2015	32.9		6.5
2016	28.3		7.1
2017	26.7		11.9
2018	19.9		12.0
2019	16.5		13.6


⁽¹⁾	Information presented for calendar years prior to 2019 is required supplementary information and is unaudited.



Reporting Segment: International Operations Operating Division: Syndicate 1200 Line of Business: Professional (in millions, except number of claims reported)
	Incurred Losses & ALAE, Net of Reinsurance
Accident Year	For the Years Ended December 31,
	2010 ⁽¹⁾		2011 ⁽¹⁾		2012 ⁽¹⁾		2013 ⁽¹⁾		2014 ⁽¹⁾		2015 ⁽¹⁾		2016 ⁽¹⁾		2017 ⁽¹⁾		2018 ⁽¹⁾		2019
2010	$	15.6	$	12.8	$	12.7	$	11.2	$	10.1	$	9.4	$	9.5	$	9.5	$	9.8	$	10.0
2011			19.1		21.0		18.5		15.5		14.6		14.7		15.1		15.7		16.2
2012					13.5		13.5		13.7		13.6		13.7		14.6		15.1		16.0
2013							21.9		21.8		21.9		21.5		21.7		22.5		23.9
2014									33.8		35.0		35.1		38.1		40.0		41.9
2015											36.8		36.1		37.3		37.4		40.8
2016													31.8		26.0		25.5		30.9
2017															23.6		21.1		24.4
2018																	20.1		17.0
2019																			22.4
																	Total		$	243.5

	Cumulative Paid Losses & ALAE, Net of Reinsurance
Accident Year	For the Years Ended December 31,
	2010 ⁽¹⁾		2011 ⁽¹⁾		2012 ⁽¹⁾		2013 ⁽¹⁾		2014 ⁽¹⁾		2015 ⁽¹⁾		2016 ⁽¹⁾		2017 ⁽¹⁾		2018 ⁽¹⁾		2019
2010	$	0.1	$	1.0	$	2.0	$	3.0	$	3.8	$	5.1	$	6.5	$	6.8	$	7.7	$	7.9
2011			1.0		2.5		4.2		6.6		8.3		10.6		11.4		12.8		13.5
2012					0.6		1.8		4.3		5.8		8.2		9.5		11.2		12.5
2013							1.7		3.7		7.1		11.6		15.4		17.7		20.1
2014									1.6		6.3		14.6		23.6		27.8		32.3
2015											2.2		8.3		14.8		19.6		24.9
2016													2.1		5.8		10.6		17.2
2017															1.2		5.0		9.6
2018																	1.0		4.8
2019																			2.5
																	Total		$	145.3
Total outstanding liabilities for unpaid losses and ALAE, net of reinsurance																			$	98.2



	As of December 31, 2019
Accident Year	Incurred Losses & ALAE, Net of Reinsurance		IBNR & Expected Development on Reported Claims
2010	$	10.0	$	0.2
2011	16.2		0.7
2012	16.0		0.8
2013	23.9		2.1
2014	41.9		4.9
2015	40.8		8.6
2016	30.9		8.0
2017	24.4		11.3
2018	17.0		10.6
2019	22.4		18.6


⁽¹⁾	Information presented for calendar years prior to 2019 is required supplementary information and is unaudited.



Reporting Segment: International Operations Operating Division: Syndicate 1200 Line of Business: Property (in millions, except number of claims reported)
	Incurred Losses & ALAE, Net of Reinsurance
Accident Year	For the Years Ended December 31,
	2010 ⁽¹⁾		2011 ⁽¹⁾		2012 ⁽¹⁾		2013 ⁽¹⁾		2014 ⁽¹⁾		2015 ⁽¹⁾		2016 ⁽¹⁾		2017 ⁽¹⁾		2018 ⁽¹⁾		2019
2010	$	50.7	$	58.2	$	54.8	$	54.3	$	51.6	$	51.3	$	50.8	$	51.5	$	51.2	$	51.1
2011			108.5		113.8		108.0		95.2		93.3		92.7		92.8		92.2		91.9
2012					88.9		88.7		93.0		92.1		91.0		90.9		90.1		89.6
2013							83.4		79.3		78.3		76.9		76.7		75.7		74.6
2014									69.8		64.2		65.7		66.3		65.6		63.6
2015											55.9		66.3		73.6		74.2		72.9
2016													70.6		86.4		91.6		90.7
2017															84.9		91.4		96.1
2018																	62.2		61.9
2019																			42.8
																	Total		$	735.2

	Cumulative Paid Losses & ALAE, Net of Reinsurance
Accident Year	For the Years Ended December 31,
	2010 ⁽¹⁾		2011 ⁽¹⁾		2012 ⁽¹⁾		2013 ⁽¹⁾		2014 ⁽¹⁾		2015 ⁽¹⁾		2016 ⁽¹⁾		2017 ⁽¹⁾		2018 ⁽¹⁾		2019
2010	$	1.8	$	19.6	$	28.1	$	33.9	$	35.9	$	40.1	$	41.6	$	42.7	$	43.4	$	43.4
2011			23.5		47.3		62.0		73.8		79.6		81.3		82.9		82.6		82.0
2012					29.6		47.8		63.0		74.1		76.4		77.6		77.8		77.7
2013							44.5		56.8		69.3		73.5		74.3		73.5		72.5
2014									29.5		51.5		57.6		60.1		60.0		58.0
2015											22.9		42.8		52.7		59.1		58.6
2016													38.9		63.9		78.6		80.0
2017															29.3		62.4		71.5
2018																	30.2		53.1
2019																			20.5
																	Total		$	617.3
Total outstanding liabilities for unpaid losses and ALAE, net of reinsurance																			$	117.9



	As of December 31, 2019
Accident Year	Incurred Losses & ALAE, Net of Reinsurance		IBNR & Expected Development on Reported Claims
2010	$	51.1	$	—
2011	91.9		—
2012	89.6		—
2013	74.6		—
2014	63.6		—
2015	72.9		—
2016	90.7		—
2017	96.1		3.0
2018	61.9		6.2
2019	42.8		21.4


⁽¹⁾	Information presented for calendar years prior to 2019 is required supplementary information and is unaudited.



Reporting Segment: International Operations Operating Division: Syndicate 1200 Line of Business: Specialty (in millions, except number of claims reported)
	Incurred Losses & ALAE, Net of Reinsurance
Accident Year	For the Years Ended December 31,
	2010 ⁽¹⁾		2011 ⁽¹⁾		2012 ⁽¹⁾		2013 ⁽¹⁾		2014 ⁽¹⁾		2015 ⁽¹⁾		2016 ⁽¹⁾		2017 ⁽¹⁾		2018 ⁽¹⁾		2019
2010	$	12.9	$	15.8	$	13.6	$	13.1	$	12.1	$	12.1	$	12.1	$	12.1	$	12.0	$	12.0
2011			38.5		40.2		38.9		34.2		33.3		33.4		33.2		32.9		32.8
2012					52.6		56.4		60.8		59.3		59.1		58.9		58.3		58.0
2013							75.8		81.3		82.7		82.3		82.0		81.7		80.7
2014									92.1		98.6		99.9		101.4		100.8		99.1
2015											89.7		87.8		93.8		95.3		95.0
2016													85.5		83.9		87.2		89.5
2017															79.6		76.0		85.9
2018																	64.7		69.8
2019																			77.5
																	Total		$	700.3

	Cumulative Paid Losses & ALAE, Net of Reinsurance
Accident Year	For the Years Ended December 31,
	2010 ⁽¹⁾		2011 ⁽¹⁾		2012 ⁽¹⁾		2013 ⁽¹⁾		2014 ⁽¹⁾		2015 ⁽¹⁾		2016 ⁽¹⁾		2017 ⁽¹⁾		2018 ⁽¹⁾		2019
2010	$	1.9	$	8.6	$	8.9	$	9.3	$	9.0	$	9.7	$	10.0	$	10.1	$	10.2	$	10.3
2011			11.5		19.6		23.7		27.2		28.6		29.2		29.6		29.5		29.3
2012					17.9		27.5		39.0		45.8		48.8		49.9		50.2		50.2
2013							31.0		52.5		68.9		76.3		78.3		78.6		78.3
2014									37.8		71.5		82.7		89.0		90.4		89.4
2015											31.0		54.0		66.0		73.9		75.5
2016													37.2		58.6		68.3		75.2
2017															19.8		42.2		57.1
2018																	18.7		49.3
2019																			29.6
																	Total		$	544.2
Total outstanding liabilities for unpaid losses and ALAE, net of reinsurance																			$	156.1



	As of December 31, 2019
Accident Year	Incurred Losses & ALAE, Net of Reinsurance		IBNR & Expected Development on Reported Claims
2010	$	12.0	$	—
2011	32.8		—
2012	58.0		—
2013	80.7		—
2014	99.1		—
2015	95.0		—
2016	89.5		2.2
2017	85.9		7.1
2018	69.8		17.5
2019	77.5		44.7


⁽¹⁾	Information presented for calendar years prior to 2019 is required supplementary information and is unaudited



Reporting Segment: International Operations Operating Division: Europe Line of Business: Professional (in millions, except number of claims reported)

Accident Year
	2012 ⁽¹⁾		2013 ⁽¹⁾		2014 ⁽¹⁾		2015 ⁽¹⁾		2016 ⁽¹⁾		2017 ⁽¹⁾		2018 ⁽¹⁾		2019
2012	$	0.1	$	0.1	$	—	$	0.1	$	0.1	$	0.1	$	0.2	$	0.1
2013			0.8		0.7		0.5		0.4		0.5		0.6		0.4
2014					0.7		0.6		0.5		0.7		0.7		6.7
2015							2.6		2.1		2.9		18.4		21.1
2016									0.9		1.1		1.1		0.8
2017											5.6		6.1		13.5
2018													45.5		56.6
2019															71.7
													Total		$	170.9


Accident Year
	2012 ⁽¹⁾		2013 ⁽¹⁾		2014 ⁽¹⁾		2015 ⁽¹⁾		2016 ⁽¹⁾		2017 ⁽¹⁾		2018 ⁽¹⁾		2019
2012	$	—	$	—	$	—	$	—	$	—	$	—	$	0.1	$	—
2013			—		—		0.5		0.4		0.5		0.5		0.2
2014					—		—		—		0.1		0.1		0.1
2015							—		—		—		0.1		2.3
2016									—		—		0.3		0.1
2017											1.0		2.0		6.8
2018													9.8		17.2
2019															1.2
													Total		$	27.9
Outstanding liabilities for unpaid losses and ALAE prior to 2012, net of reinsurance															—
Total outstanding liabilities for unpaid losses and ALAE, net of reinsurance															$	143.0



	As of December 31, 2019
Accident Year	Incurred Losses & ALAE, Net of Reinsurance		IBNR & Expected Development on Reported Claims			Cumulative Number of Reported Claims ⁽²⁾
2012	$	0.1	$	0.1		3
2013	0.4		0.2			22
2014	6.7		6.6			19
2015	21.1		18.8			36
2016	0.8		0.7			63
2017	13.5		(10.4		)	91
2018	56.6		7.6			143
2019	71.7		69.3			101


⁽¹⁾	Information presented for calendar years prior to 2019 is required supplementary information and is unaudited.

⁽²⁾

The cumulative number of reported claims is measured by individual claimant at a coverage level. Reported occurrences that do not result in a liability are included as reported claims.

Summary of Reconciliation of Net Incurred and Paid Development to Liability for Unpaid Losses and LAE in Consolidated Balance Sheets

The reconciliation of the net incurred and paid development tables to the liability for unpaid losses and LAE in our consolidated balance sheets is as follows:



(in millions)	As of December 31, 2019
Liabilities for unpaid losses and ALAE:
US Operations:
Excess and Surplus Lines - Liability	$	913.0
Commercial Specialty - Liability	467.5
Commercial Specialty - Professional	216.9
Commercial Specialty - Specialty	52.7
International Operations:
Reinsurance - Property	85.7
Argo Insurance Bermuda- Liability	85.0
Syndicate 1200 - Liability	93.3
Syndicate 1200 - Professional	98.2
Syndicate 1200 - Property	117.9
Syndicate 1200 - Specialty	156.1
Europe - Professional	143.0
Run-off Lines	173.3
Other lines	75.7
Total liabilities for unpaid losses and ALAE, net of reinsurance	2,678.3

Reinsurance recoverables on unpaid losses and LAE:
US Operations:
Excess and Surplus Lines - Liability	385.5
Commercial Specialty - Liability	332.2
Commercial Specialty - Professional	175.1
Commercial Specialty - Specialty	29.0
International Operations:
Reinsurance - Property	418.2
Argo Insurance Bermuda- Liability	175.4
Syndicate 1200 - Liability	58.3
Syndicate 1200 - Professional	79.9
Syndicate 1200 - Property	117.0
Syndicate 1200 - Specialty	112.0
Europe - Professional	7.8
Run-off Lines	85.1
Other lines	459.4
Total reinsurance recoverables on unpaid losses and LAE	2,434.9

Unallocated loss adjustment expenses	62.3
Unamortized reserve discount	(17.9		)
Gross liability for unpaid losses and LAE	$	5,157.6

Schedule of Supplementary Unaudited Information About Annual Percentage Payout of Incurred Losses and ALAE, Net of Reinsurance

The following table provides supplementary unaudited information about the annual percentage payout of incurred losses and ALAE, net of reinsurance, as of December 31, 2019:



	Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance ⁽¹⁾
	Year 1	Year 2	Year 3	Year 4	Year 5	Year 6	Year 7	Year 8	Year 9
U.S. Operations:
Excess and Surplus Lines - Liability	7.6%	16.8%	20.5%	18.6%	12.6%	8.3%	5.3%	3.4%	2.2%
Specialty Admitted - Liability	14.1%	21.3%	18.4%	16.4%	9.3%	6.3%	4.2%	2.8%	1.9%
Specialty Admitted- Professional	7.7%	25.2%	26.3%	16.9%	10.3%	5.8%	3.2%	1.8%	1.1%
Specialty Admitted - Specialty	35.8%	32.5%	17.6%	7.3%	3.5%	1.7%	0.8%	0.4%	0.2%
International Operations:
Reinsurance - Property	22.5%	22.7%	29.4%	14.2%	4.4%	2.3%	1.3%	0.8%	0.6%
Argo Insurance Bermuda - Liability	3.7%	16.8%	17.4%	15.7%	14.1%	7.7%	7.0%	2.0%	5.5%
Europe Professional	4.6%	10.7%	14.5%	15.5%	11.8%	9.8%	8.7%	N/A	N/A
Syndicate 1200 - Liability	3.7%	7.8%	9.5%	12.3%	14.7%	11.7%	10.6%	8.4%	6.4%
Syndicate 1200 - Professional	4.6%	10.7%	14.5%	15.5%	11.8%	9.8%	8.7%	6.7%	5.0%
Syndicate 1200 - Property	41.5%	29.6%	15.7%	8.4%	2.4%	1.2%	0.6%	0.3%	0.2%
Syndicate 1200 - Specialty	37.2%	30.9%	16.6%	9.4%	3.4%	1.4%	0.6%	0.2%	0.1%

⁽¹⁾ The average annual percentage payout is calculated from a paid losses and ALAE development pattern based on an actuarial analysis of the paid losses and ALAE movements by accident year for each disaggregation category. The paid losses and ALAE development pattern provides the expected percentage of ultimate losses and ALAE to be paid in each year. The pattern considers all accident years included in the claims development tables.

Schedule of Information About Discounted Liabilities For Unpaid Losses and LAE

The following tables provide information about these discounted liabilities for unpaid losses and LAE:



	Carrying Amount of
	Reserves for Losses & LAE						Aggregate Amount of Discount
	As of December 31,						As of December 31,
(in millions, except discount percentages)	2019		2018		2017		2019		2018		2017
U.S. Operations:
Specialty Admitted - Liability	$	153.1	$	140.8	$	126.7	$	13.0	$	11.9	$	10.6
Run-off Lines	148.9		163.1		175.5		4.9		5.0		7.0
Total	$	302.0	$	303.9	$	302.2	$	17.9	$	16.9	$	17.6



	Interest Accretion⁽¹⁾						Discount Rate
	For the Years Ended December 31,						As of December 31,
	2019		2018		2017		2019	2018	2017
U.S. Operations:
Specialty Admitted - Liability	$	1.3	$	1.3	$	1.9	2.25%	2.25%	2.25%
Run-off Lines	0.2		2.1		2.1		3.50%	3.50%	3.50%
Total	$	1.5	$	3.4	$	4.0

⁽¹⁾Interest accretion is recorded in the line item “Losses and loss adjustment expenses” in our Consolidated Statements of (Loss) Income.