XML 51 R13.htm IDEA: XBRL DOCUMENT v3.22.0.1
Allowance for Credit Losses
 12 Months Ended
Dec. 31, 2021
Credit Loss [Abstract]  
Allowance for Credit Losses Allowance for Credit Losses
Premiums receivable
The following table represents the balances of premiums receivable, net of allowance for uncollectible premiums, including expected credit losses, at December 31, 2021 and January 1, 2021, and the changes in the allowance for the year ended December 31, 2021.
(in millions)Premiums Receivable, Net of Allowance for Estimated Uncollectible PremiumsAllowance for Estimated Uncollectible Premiums
Balance, January 1, 2021$679.8 $9.4 
Current period change for estimated uncollectible premiums(3.1)
Write-offs of uncollectible premiums receivable(0.6)
Foreign exchange adjustments— 
Balance, December 31, 2021$648.6 $5.7 
Reinsurance Recoverables
The following table presents the balances of reinsurance recoverables, net of the allowance for estimated uncollectible reinsurance, including expected credit losses, at December 31, 2021 and January 1, 2021, and changes in the allowance for estimated uncollectible reinsurance for the year ended December 31, 2021.
(in millions) Reinsurance Recoverables, Net of Allowance for Estimated Uncollectible ReinsuranceAllowance for Estimated Uncollectible Reinsurance
Balance, January 1, 2021$3,009.0 $4.1 
Current period change for estimated uncollectible reinsurance(0.3)
Write-offs of uncollectible reinsurance recoverables— 
Balance, December 31, 2021$2,966.4 $3.8 
We primarily utilize A.M. Best credit ratings when determining the allowance, adjusted as needed based on our historical experience with the reinsurers. Certain of our reinsurance recoverables are collateralized by letters of credit, funds held or trust agreements.