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Condensed Consolidated Statements of (Loss) Income - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Premiums and other revenue:        
Earned premiums $ 445.5 $ 451.5 $ 1,313.9 $ 1,303.7
Net investment income 42.0 40.2 79.0 116.9
Fee and other income 1.7 1.9 5.8 6.3
Net realized investment gains (losses):        
Net realized investment (losses) gains (5.7) 2.6 33.3 0.3
Change in fair value of equity securities 10.5 (8.8) (12.0) 58.0
Credit losses on fixed maturity securities (10.5) 0.0 (43.0) 0.0
Net realized investment (losses) gains (5.7) (6.2) (21.7) 58.3
Total revenue 483.5 487.4 1,377.0 1,485.2
Expenses:        
Losses and loss adjustment expenses 328.9 338.8 883.0 861.5
Underwriting, acquisition and insurance expenses 164.3 164.0 493.7 485.6
Other corporate expenses 0.4 3.7 6.2 11.7
Interest expense 6.8 7.5 21.3 25.3
Fee and other expense 0.9 1.2 3.1 3.8
Foreign currency exchange losses (gains) 11.6 (1.6) 15.0 (6.2)
Total expenses 512.9 513.6 1,422.3 1,381.7
(Loss) income before income taxes (29.4) (26.2) (45.3) 103.5
Income tax provision (benefit) 0.2 (1.1) 9.5 8.6
Net (loss) income (29.6) (25.1) (54.8) 94.9
Dividends on preferred shares 2.0 0.0 2.0 0.0
Net (loss) income attributable to common shareholders $ (31.6) $ (25.1) $ (56.8) $ 94.9
Net (loss) income per common share:        
Basic (in dollars per share) $ (0.91) $ (0.73) $ (1.64) $ 2.78
Diluted (in dollars per share) (0.91) (0.73) (1.64) 2.73
Dividends declared per common share (in dollars per share) $ 0.31 $ 0.31 $ 0.93 $ 0.93
Weighted average common shares:        
Basic (in shares) 34,667,266 34,299,999 34,590,659 34,161,016
Diluted (in shares) 34,667,266 34,299,999 34,590,659 34,769,622
Net realized investment gains (losses) before other-than-temporary impairment losses $ (5.7) $ (1.2) $ (21.7) $ 70.1
Other-than-temporary impairment losses recognized in earnings:        
Other-than-temporary impairment losses on fixed maturities 0.0 (5.0) 0.0 (11.8)
Impairment losses recognized in earnings 0.0 (5.0) 0.0 (11.8)
Net realized investment (losses) gains $ (5.7) $ (6.2) $ (21.7) $ 58.3