Reserves for Losses and Loss Adjustment Expenses (Tables)

12 Months Ended

Dec. 31, 2021

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 Years Ended December 31,
(in millions)	2021		2020		2019
Net reserves beginning of the year	$	2,906.1	$	2,722.7	$	2,562.9
Net AIL reserves acquired	—		27.9		—
Add:
Losses and LAE incurred during current calendar year, net of reinsurance:
Current accident year	1,176.3		1,201.1		1,082.6
Prior accident years	138.3		7.7		138.1
Losses and LAE incurred during calendar year, net of reinsurance	1,314.6		1,208.8		1,220.7
Deduct:
Losses and LAE payments made during current calendar year, net of reinsurance:
Current accident year	180.8		253.4		224.3
Prior accident years	688.4		866.4		806.0
Losses and LAE payments made during current calendar year, net of reinsurance:	869.2		1,119.8		1,030.3
Net reserve ceded - reinsurance to close transaction for years of account 2017 and prior (1)	219.7		—		—
Change in participation interest (2)	8.4		32.8		(14.4)
Foreign exchange adjustments	(17.0)		33.7		(16.2)
Net reserves - end of period	3,123.2		2,906.1		2,722.7
Add:
Reinsurance recoverables on unpaid losses and LAE, end of period	2,471.8		2,499.9		2,434.9
Gross reserves - end of period	$	5,595.0	$	5,406.0	$	5,157.6

(1) Amount represents a decrease in reserves due to an RITC to RiverStone, see Note 2, recent acquisitions, disposals & other transactions.

(2) 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)	2021		2020		2019
U.S. Operations	$	120.9	$	2.4	$	15.7
International Operations	(26.9)		(6.2)		110.4
Run-off Lines	44.3		11.5		12.0
Total (favorable) unfavorable prior-year development	$	138.3	$	7.7	$	138.1

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, 2021.

Reporting Segment: U.S. Operations 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,
	2012 (1)		2013 (1)		2014 (1)		2015 (1)		2016 (1)		2017 (1)		2018 (1)		2019 (1)		2020 (1)		2021 (1)
2012	$	329.9	$	342.3	$	339.3	$	336.9	$	335.9	$	329.7	$	328.9	$	327.2	$	328.2	$	329.3
2013			344.5		355.8		361.0		360.4		351.5		346.6		343.1		344.8		357.3
2014					328.6		337.1		330.0		326.3		323.9		321.9		327.4		341.3
2015							339.8		343.8		330.3		328.7		328.0		335.4		347.9
2016									342.6		350.5		342.4		353.0		355.3		379.0
2017											374.8		373.7		384.3		397.7		431.7
2018													426.1		430.4		414.5		420.4
2019															421.1		423.7		427.1
2020																	404.2		386.7
2021																			416.5
																	Total		$	3,837.2
	Cumulative Paid Losses & ALAE, Net of Reinsurance
Accident Year	For the Years Ended December 31,
	2012 (1)		2013 (1)		2014 (1)		2015 (1)		2016 (1)		2017 (1)		2018 (1)		2019 (1)		2020 (1)		2021 (1)
2012	$	37.3	$	103.8	$	169.8	$	226.6	$	263.2	$	285.3	$	295.4	$	305.3	$	313.2	$	315.7
2013			36.5		109.7		174.3		228.8		266.5		289.3		306.9		318.2		325.4
2014					32.4		91.0		154.6		206.9		240.6		266.3		283.2		291.4
2015							33.7		86.9		140.2		195.6		236.4		263.9		289.3
2016									28.5		84.5		144.1		217.1		255.6		293.8
2017											27.8		83.0		158.8		238.5		295.2
2018													34.3		98.9		175.8		245.5
2019															32.4		113.6		186.1
2020																	25.6		85.9
2021																			27.6
																	Total		$	2,355.9
Outstanding liabilities for unpaid losses and ALAE prior to 2012, net of reinsurance																			59.4
Total outstanding liabilities for unpaid losses and ALAE, net of reinsurance																			$	1,540.7

	As of December 31, 2021
Accident Year	Incurred Losses & ALAE, Net of Reinsurance		IBNR & Expected Development on Reported Claims		Cumulative Number of Reported Claims (2)
2012	$	329.3	$	35.6	27,587
2013	357.3		48.4		27,258
2014	341.3		56.3		23,473
2015	347.9		54.2		21,729
2016	379.0		60.7		18,693
2017	431.7		102.3		20,868
2018	420.4		117.0		23,150
2019	427.1		181.8		22,270
2020	386.7		261.2		17,001
2021	416.5		366.6		11,344

(1)Information presented for calendar years prior to 2021 is required supplementary information and is unaudited.

(2)During 2021, the Company revised the manner in which it measures reported claims. 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. During 2021, we implemented additional processes to consolidate multiple data sources for U.S. Operations reserving. As part of that process, the level of detail used to determine the number of reported claims for some of the business units in US Operations changed. As a result, the cumulative number of reported claims for each accident year presented above as of December 31, 2021 is not comparable to the cumulative number of reported claims disclosed in previously issued financial statements.

Reporting Segment: U.S. Operations 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,
	2012 (1)		2013 (1)		2014 (1)		2015 (1)		2016 (1)		2017 (1)		2018 (1)		2019 (1)		2020 (1)		2021 (1)
2012	$	27.8	$	28.3	$	28.6	$	25.8	$	24.0	$	24.5	$	24.9	$	24.7	$	24.4	$	24.3
2013			20.9		21.5		21.1		19.0		19.8		19.5		18.3		18.1		18.0
2014					22.4		22.4		26.0		33.7		36.2		35.4		35.1		34.4
2015							29.9		29.5		33.2		34.0		37.1		37.9		38.3
2016									44.2		44.8		45.1		42.9		35.5		43.0
2017											60.1		61.8		78.3		87.9		99.5
2018													70.8		73.2		79.2		94.8
2019															94.4		96.8		105.0
2020																	152.6		142.6
2021																			177.9
																	Total		777.8
	Cumulative Paid Losses & ALAE, Net of Reinsurance
Accident Year	For the Years Ended December 31,
	2012 (1)		2013 (1)		2014 (1)		2015 (1)		2016 (1)		2017 (1)		2018 (1)		2019 (1)		2020 (1)		2021 (1)
2012	$	2.3	$	8.6	$	16.9	$	19.9	$	21.4	$	22.6	$	23.5	$	24.2	$	24.0	$	24.3
2013			1.9		6.3		10.9		14.2		17.6		17.5		17.9		17.9		17.9
2014					2.3		5.4		15.1		24.1		25.5		32.3		33.3		33.6
2015							1.8		8.3		15.6		20.8		26.2		31.3		31.7
2016									2.4		11.9		24.6		28.9		30.8		34.4
2017											3.5		24.9		38.0		59.7		77.9
2018													4.5		16.7		43.8		62.6
2019															4.9		32.9		50.0
2020																	13.3		36.4
2021																			12.1
																	Total		$	380.9
Outstanding liabilities for unpaid losses and ALAE prior to 2012, net of reinsurance																			14.4
Total outstanding liabilities for unpaid losses and ALAE, net of reinsurance																			$	411.3

	As of December 31, 2021
Accident Year	Incurred Losses & ALAE, Net of Reinsurance		IBNR & Expected Development on Reported Claims		Cumulative Number of Reported Claims (2)
2012	$	24.3	$	0.1	642
2013	18.0		0.1		625
2014	34.4		0.1		1,044
2015	38.3		2.2		1,831
2016	43.0		(0.1)		3,256
2017	99.5		4.2		3,759
2018	94.8		(0.5)		4,303
2019	105.0		22.5		5,091
2020	142.6		78.7		5,389
2021	177.9		149.2		5,208

(1)Information presented for calendar years prior to 2021 is required supplementary information and is unaudited.

(2)During 2021, the Company revised the manner in which it measures reported claims. 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. During 2021, we implemented additional processes to consolidate multiple data sources for U.S. Operations reserving. As part of that process, the level of detail used to determine the number of reported claims for some of the business units in US Operations changed. As a result, the cumulative number of reported claims for each accident year presented above as of December 31, 2021 is not comparable to the cumulative number of reported claims disclosed in previously issued financial statements.

Reporting Segment: U.S. Operations 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,
	2012 (1)		2013 (1)		2014 (1)		2015 (1)		2016 (1)		2017 (1)		2018 (1)		2019 (1)		2020 (1)		2021 (1)
2012	$	103.8	$	101.8	$	98.7	$	98.8	$	98.5	$	98.7	$	98.7	$	98.6	$	98.6	$	97.4
2013			74.5		79.9		78.7		78.2		77.8		78.2		78.4		78.2		77.2
2014					80.4		82.2		77.0		77.1		76.9		76.9		76.1		76.0
2015							74.0		73.4		69.9		68.9		69.1		69.2		69.2
2016									59.4		57.6		57.1		56.6		56.6		56.5
2017											75.2		79.6		86.9		94.9		94.5
2018													89.2		93.1		95.1		96.9
2019															91.4		88.8		98.4
2020																	129.5		133.2
2021																			111.7
																	Total		$	911.0
	Cumulative Paid Losses & ALAE, Net of Reinsurance
Accident Year	For the Years Ended December 31,
	2012 (1)		2013 (1)		2014 (1)		2015 (1)		2016 (1)		2017 (1)		2018 (1)		2019 (1)		2020 (1)		2021 (1)
2012	$	70.1	$	97.2	$	98.0	$	98.2	$	98.4	$	98.4	$	98.7	$	98.6	$	98.6	$	97.4
2013			52.5		73.2		75.5		77.4		77.1		75.9		78.1		78.2		77.2
2014					51.6		73.1		75.7		76.4		76.3		76.4		76.1		76.0
2015							44.6		67.6		68.6		67.9		68.3		68.5		69.0
2016									39.4		55.2		55.8		56.1		56.4		56.3
2017											54.4		95.3		113.9		100.8		88.4
2018													61.3		126.7		107.0		98.8
2019															55.8		82.4		90.9
2020																	75.9		116.6
2021																			71.3
																	Total		841.9
Outstanding liabilities for unpaid losses and ALAE prior to 2012, net of reinsurance																			(0.3)
Total outstanding liabilities for unpaid losses and ALAE, net of reinsurance																			$	68.8

	As of December 31, 2021
Accident Year	Incurred Losses & ALAE, Net of Reinsurance		IBNR & Expected Development on Reported Claims		Cumulative Number of Reported Claims (2)
2012	$	97.4	$	6.3	15,005
2013	77.2		0.9		10,717
2014	76.0		0.5		8,559
2015	69.2		0.8		7,746
2016	56.5		2.0		7,999
2017	94.5		—		10,388
2018	96.9		(12.9)		11,145
2019	98.4		2.1		11,724
2020	133.2		(9.3)		11,504
2021	111.7		(0.6)		9,265

(1)Information presented for calendar years prior to 2021 is required supplementary information and is unaudited.

(2)During 2021, the Company revised the manner in which it measures reported claims. 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. During 2021, we implemented additional processes to consolidate multiple data sources for U.S. Operations reserving. As part of that process, the level of detail used to determine the number of reported claims for some of the business units in US Operations changed. As a result, the cumulative number of reported claims for each accident year presented above as of December 31, 2021 is not comparable to the cumulative number of reported claims disclosed in previously issued financial statements.

Reporting Segment: U.S. Operations 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,
	2012 (1)		2013 (1)		2014 (1)		2015 (1)		2016 (1)		2017 (1)		2018 (1)		2019 (1)		2020 (1)		2021 (1)
2012	$	7.5	$	6.7	$	4.9	$	4.3	$	4.0	$	3.9	$	3.5	$	3.6	$	3.3	$	3.3
2013			10.0		8.6		4.6		2.5		1.7		0.9		0.9		0.9		0.9
2014					13.1		13.1		8.9		6.0		4.8		4.6		4.6		4.1
2015							14.8		14.3		9.5		5.5		1.2		0.5		0.3
2016									15.0		15.0		11.2		6.2		4.7		3.3
2017											16.2		16.2		7.6		0.9		0.7
2018													20.9		17.4		3.3		3.5
2019															22.7		8.5		5.6
2020																	25.4		10.3
2021																			27.9
																	Total		$	59.9
	Cumulative Paid Losses & ALAE, Net of Reinsurance
Accident Year	For the Years Ended December 31,
	2012 (1)		2013 (1)		2014 (1)		2015 (1)		2016 (1)		2017 (1)		2018 (1)		2019 (1)		2020 (1)		2021 (1)
2012	$	3.6	$	3.3	$	3.3	$	3.3	$	3.3	$	3.4	$	3.3	$	3.4	$	3.4	$	3.4
2013			0.4		0.9		0.9		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		4.0		4.1
2015							0.2		0.1		0.2		0.3		0.3		0.3		0.3
2016									1.3		1.6		2.2		2.2		2.2		2.8
2017											0.3		0.1		—		0.1		0.2
2018													—		0.7		1.7		1.2
2019															0.7		0.7		3.2
2020																	0.3		7.6
2021																			0.3
																	Total		24.0
Outstanding liabilities for unpaid losses and ALAE prior to 2012, net of reinsurance																			0.6
Total outstanding liabilities for unpaid losses and ALAE, net of reinsurance																			$	36.5

	As of December 31, 2021
Accident Year	Incurred Losses & ALAE, Net of Reinsurance		IBNR & Expected Development on Reported Claims		Cumulative Number of Reported Claims (2)
2012	$	3.3	$	—	121
2013	0.9		0.1		47
2014	4.1		—		45
2015	0.3		—		24
2016	3.3		0.9		56
2017	0.7		1.0		106
2018	3.5		2.6		142
2019	5.6		0.6		233
2020	10.3		2.3		409
2021	27.9		26.5		427

(1)Information presented for calendar years prior to 2021 is required supplementary information and is unaudited.

(2)During 2021, the Company revised the manner in which it measures reported claims. 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. During 2021, we implemented additional processes to consolidate multiple data sources for U.S. Operations reserving. As part of that process, the level of detail used to determine the number of reported claims for some of the business units in US Operations changed. As a result, the cumulative number of reported claims for each accident year presented above as of December 31, 2021 is not comparable to the cumulative number of reported claims disclosed in previously issued financial statements.

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,
	2012 (1)		2013 (1)		2014 (1)		2015 (1)		2016 (1)		2017 (1)		2018 (1)		2019 (1)		2020 (1)		2021 (1)
2012	$	7.4	$	7.4	$	7.4	$	5.6	$	4.4	$	1.7	$	—	$	0.6	$	0.6	$	0.6
2013			8.5		8.5		8.5		8.5		4.9		2.2		5.3		5.3		6.0
2014					9.8		9.8		9.8		6.2		1.5		2.3		2.3		1.6
2015							11.3		14.3		24.8		35.4		45.4		45.1		51.3
2016									13.9		14.0		14.0		6.6		6.1		0.8
2017											17.1		17.3		26.9		30.3		37.3
2018													8.9		32.1		26.6		24.2
2019															13.3		13.6		13.8
2020																	23.3		24.9
2021																			12.3
																	Total		$	172.8
	Cumulative Paid Losses & ALAE, Net of Reinsurance
Accident Year	For the Years Ended December 31,
	2012 (1)		2013 (1)		2014 (1)		2015 (1)		2016 (1)		2017 (1)		2018 (1)		2019 (1)		2020 (1)		2021 (1)
2012	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
2013			—		—		—		—		2.3		2.3		2.3		2.4		2.4
2014					—		—		0.1		0.1		1.2		1.2		1.4		1.4
2015							—		—		16.1		20.3		26.6		34.8		38.9
2016									—		—		—		0.1		0.1		0.2
2017											—		3.3		3.4		18.0		19.7
2018													—		13.8		18.3		18.5
2019															—		0.1		0.7
2020																	0.8		7.0
2021																			—
																	Total		$	88.8
Outstanding liabilities for unpaid losses and ALAE prior to 2012, net of reinsurance																			—
Total outstanding liabilities for unpaid losses and ALAE, net of reinsurance																			$	84.0

	As of December 31, 2021
Accident Year	Incurred Losses & ALAE, Net of Reinsurance		IBNR & Expected Development on Reported Claims		Cumulative Number of Reported Claims (2)
2012	$	0.6	$	0.5	1,392
2013	6.0		0.7		1,200
2014	1.6		(0.4)		1,350
2015	51.3		—		1,613
2016	0.8		0.5		1,943
2017	37.3		10.4		2,129
2018	24.2		5.2		1,110
2019	13.8		12.7		1,168
2020	24.9		16.6		1,267
2021	12.3		12.3		1,053

(1)Information presented for calendar years prior to 2021 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,
	2012 (1)		2013 (1)		2014 (1)		2015 (1)		2016 (1)		2017 (1)		2018 (1)		2019 (1)		2020 (1)		2021 (1)
2012	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
2013			—		—		—		—		—		—		—		—		—
2014					—		—		—		—		—		—		—		—
2015							—		—		—		—		—		—		—
2016									—		—		—		—		—		—
2017											—		—		—		—		—
2018													17.8		19.6		19.5		19.9
2019															14.6		15.7		15.2
2020																	15.2		14.6
2021																			15.8
																	Total		$	65.5
	Cumulative Paid Losses & ALAE, Net of Reinsurance
Accident Year	For the Years Ended December 31,
	2012 (1)		2013 (1)		2014 (1)		2015 (1)		2016 (1)		2017 (1)		2018 (1)		2019 (1)		2020 (1)		2021 (1)
2012	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
2013			—		—		—		—		—		—		—		—		—
2014					—		—		—		—		—		—		—		—
2015							—		—		—		—		—		—		—
2016									—		—		—		—		—		—
2017											—		—		—		—		—
2018													0.6		2.5		5.9		6.1
2019															1.4		4.6		5.2
2020																	1.1		1.5
2021																			0.2
																	Total		$	13.0
Outstanding liabilities for unpaid losses and ALAE prior to 2012, net of reinsurance																			3.7
Total outstanding liabilities for unpaid losses and ALAE, net of reinsurance																			$	56.2

	As of December 31, 2021
Accident Year	Incurred Losses & ALAE, Net of Reinsurance		IBNR & Expected Development on Reported Claims
2012	$	—	$	—
2013	—		—
2014	—		—
2015	—		—
2016	—		—
2017	—		—
2018	19.9		5.0
2019	15.2		5.3
2020	14.6		8.0
2021	15.8		12.7

(1)Information presented for calendar years prior to 2021 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,
	2012 (1)		2013 (1)		2014 (1)		2015 (1)		2016 (1)		2017 (1)		2018 (1)		2019 (1)		2020 (1)		2021 (1)
2012	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
2013			—		—		—		—		—		—		—		—		—
2014					—		—		—		—		—		—		—		—
2015							—		—		—		—		—		—		—
2016									—		—		—		—		—		—
2017											—		—		—		—		—
2018													13.7		14.4		15.3		15.5
2019															19.5		20.9		20.2
2020																	25.0		25.0
2021																			24.9
																	Total		$	85.6
	Cumulative Paid Losses & ALAE, Net of Reinsurance
Accident Year	For the Years Ended December 31,
	2012 (1)		2013 (1)		2014 (1)		2015 (1)		2016 (1)		2017 (1)		2018 (1)		2019 (1)		2020 (1)		2021 (1)
2012	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
2013			—		—		—		—		—		—		—		—		—
2014					—		—		—		—		—		—		—		—
2015							—		—		—		—		—		—		—
2016									—		—		—		—		—		—
2017											—		—		—		—		—
2018													0.1		1.8		4.5		4.6
2019															2.7		8.7		9.1
2020																	2.2		3.1
2021																			0.7
																	Total		$	17.5
Outstanding liabilities for unpaid losses and ALAE prior to 2012, net of reinsurance																			10.5
Total outstanding liabilities for unpaid losses and ALAE, net of reinsurance																			$	78.6

	As of December 31, 2021
Accident Year	Incurred Losses & ALAE, Net of Reinsurance		IBNR & Expected Development on Reported Claims
2012	$	—	$	—
2013	—		—
2014	—		—
2015	—		—
2016	—		—
2017	—		—
2018	15.5		4.6
2019	20.2		7.1
2020	25.0		12.0
2021	24.9		20.0

(1)Information presented for calendar years prior to 2021 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,
	2012 (1)		2013 (1)		2014 (1)		2015 (1)		2016 (1)		2017 (1)		2018 (1)		2019 (1)		2020 (1)		2021 (1)
2012	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
2013			—		—		—		—		—		—		—		—		—
2014					—		—		—		—		—		—		—		—
2015							—		—		—		—		—		—		—
2016									—		—		—		—		—		—
2017											—		—		—		—		—
2018													19.7		21.8		21.7		22.1
2019															37.2		40.1		38.7
2020																	62.8		60.3
2021																			113.5
																	Total		$	234.6
	Cumulative Paid Losses & ALAE, Net of Reinsurance
Accident Year	For the Years Ended December 31,
	2012 (1)		2013 (1)		2014 (1)		2015 (1)		2016 (1)		2017 (1)		2018 (1)		2019 (1)		2020(1)		2021 (1)
2012	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
2013			—		—		—		—		—		—		—		—		—
2014					—		—		—		—		—		—		—		—
2015							—		—		—		—		—		—		—
2016									—		—		—		—		—		—
2017											—		—		—		—		—
2018													1.5		6.1		14.4		14.8
2019															9.5		31.9		36.0
2020																	20.0		29.1
2021																			15.6
																	Total		$	95.5
Outstanding liabilities for unpaid losses and ALAE prior to 2012, net of reinsurance																			—
Total outstanding liabilities for unpaid losses and ALAE, net of reinsurance																			$	139.1

	As of December 31, 2021
Accident Year	Incurred Losses & ALAE, Net of Reinsurance		IBNR & Expected Development on Reported Claims
2012	$	—	$	—
2013	—		—
2014	—		—
2015	—		—
2016	—		—
2017	—		—
2018	22.1		0.2
2019	38.7		1.2
2020	60.3		6.0
2021	113.5		68.1

(1)Information presented for calendar years prior to 2021 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,
	2012 (1)		2013 (1)		2014 (1)		2015 (1)		2016 (1)		2017 (1)		2018 (1)		2019 (1)		2020 (1)		2021 (1)
2012	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
2013			—		—		—		—		—		—		—		—		—
2014					—		—		—		—		—		—		—		—
2015							—		—		—		—		—		—		—
2016									—		—		—		—		—		—
2017											—		—		—		—		—
2018													43.8		53.8		55.0		53.0
2019															66.5		84.0		80.5
2020																	109.8		108.2
2021																			72.6
																	Total		$	314.3
	Cumulative Paid Losses & ALAE, Net of Reinsurance
Accident Year	For the Years Ended December 31,
	2012 (1)		2013 (1)		2014 (1)		2015 (1)		2016 (1)		2017 (1)		2018 (1)		2019 (1)		2020 (1)		2021 (1)
2012	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
2013			—		—		—		—		—		—		—		—		—
2014					—		—		—		—		—		—		—		—
2015							—		—		—		—		—		—		—
2016									—		—		—		—		—		—
2017											—		—		—		—		—
2018													3.0		23.8		32.7		25.5
2019															31.3		65.8		65.8
2020																	27.7		42.9
2021																			9.7
																	Total		$	143.9
Outstanding liabilities for unpaid losses and ALAE prior to 2012, net of reinsurance																			—
Total outstanding liabilities for unpaid losses and ALAE, net of reinsurance																			$	170.4

	As of December 31, 2021
Accident Year	Incurred Losses & ALAE, Net of Reinsurance		IBNR & Expected Development on Reported Claims
2012	$	—	$	—
2013	—		—
2014	—		—
2015	—		—
2016	—		—
2017	—		—
2018	53.0		2.2
2019	80.5		5.1
2020	108.2		19.8
2021	72.6		37.8

(1)Information presented for calendar years prior to 2021 is required supplementary information and is unaudited.

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, 2021
Liabilities for unpaid losses and ALAE:
US Operations:
Liability	$	1,540.7
Professional	411.3
Property	68.8
Specialty	36.5
International Operations:
Argo Insurance Bermuda- Liability	84.0
Syndicate 1200 - Liability	56.2
Syndicate 1200 - Professional	78.6
Syndicate 1200 - Property	139.1
Syndicate 1200 - Specialty	170.4
Run-off Lines	183.4
Other lines	302.6
Total liabilities for unpaid losses and ALAE, net of reinsurance	3,071.6
Reinsurance recoverables on unpaid losses and LAE:
US Operations:
Liability	825.4
Professional	251.3
Property	206.9
Specialty	11.4
International Operations:
Argo Insurance Bermuda- Liability	207.6
Syndicate 1200 - Liability	30.8
Syndicate 1200 - Professional	74.6
Syndicate 1200 - Property	102.6
Syndicate 1200 - Specialty	103.3
Run-off Lines	82.5
Other lines	575.4
Total reinsurance recoverables on unpaid losses and LAE	2,471.8
Unallocated loss adjustment expenses	70.4
Unamortized reserve discount	(18.8)
Gross liability for unpaid losses and LAE	$	5,595.0

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, 2021:

	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	Year 10	Remainder
U.S. Operations:
US Liability	8.9%	17.6%	18.2%	18.3%	11.5%	8.3%	5.2%	3.6%	2.4%	1.7%	4.3%
US Professional	6.1%	19.1%	22.0%	18.6%	12.5%	8.9%	5.5%	3.2%	1.8%	1.0%	1.2%
US Property	58.4%	32.5%	5.7%	2.3%	0.7%	0.2%	0.1%	—%	—%	—%	—%
US Specialty	52.7%	22.8%	19.2%	3.4%	1.2%	0.4%	0.1%	0.1%	—%	—%	—%
International Operations:
Bermuda Insurance Liability	0.6%	14.2%	12.7%	13.2%	12.2%	10.5%	8.6%	6.8%	5.3%	4.0%	11.9%
S1200 Liability	6.3%	11.5%	13.4%	15.0%	16.0%	11.7%	6.9%	5.2%	3.7%	2.7%	7.6%
S1200 Professional	7.3%	12.5%	18.5%	17.6%	12.4%	8.7%	5.9%	4.5%	3.2%	2.3%	7.1%
S1200 Property	33.8%	39.2%	14.3%	8.4%	2.7%	0.8%	0.4%	0.2%	0.1%	—%	0.1%
S1200 Specialty	32.0%	36.4%	16.7%	9.2%	3.0%	1.5%	0.6%	0.3%	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)	2021		2020		2019		2021		2020		2019
US Operations:
Commercial Specialty - Liability	$	163.1	$	150.4	$	153.1	$	14.1	$	12.9	$	13.0
Run-off Lines	114.3		128.4		148.9		4.7		4.9		4.9
Total	$	277.4	$	278.8	$	302.0	$	18.8	$	17.8	$	17.9

	Interest Accretion (1)						Discount Rate
	For the Years Ended December 31,						As of December 31,
	2021		2020		2019		2021	2020	2019
US Operations:
Commercial Specialty - Liability	$	0.9	$	1.9	$	1.3	2.25%	2.25%	2.25%
Run-off Lines	0.2		—		0.2		3.50%	3.50%	3.50%
Total	$	1.1	$	1.9	$	1.5

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