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Condensed Consolidated Statements of Income (Loss) - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Premiums and other revenue:        
Earned premiums $ 454.3 $ 470.3 $ 934.9 $ 936.4
Net investment income 29.3 52.7 67.0 97.1
Net investment and other gains (losses):        
Net realized investment and other gains (losses) (36.9) 4.0 (77.0) 2.7
Change in fair value recognized (3.0) 20.3 3.7 35.8
Change in allowance for credit losses on fixed maturity securities (0.5) 0.4 (1.6) (0.7)
Total net investment and other gains (losses) (40.4) 24.7 (74.9) 37.8
Total revenue 443.2 547.7 927.0 1,071.3
Expenses:        
Losses and loss adjustment expenses 276.0 271.6 559.6 579.2
Underwriting, acquisition and insurance expenses 161.0 177.3 333.9 353.7
Non-operating expenses 15.6 10.8 23.0 12.7
Interest expense 6.1 5.7 11.9 10.8
Fee and other (income) expense, net (1.1) (0.8) (1.9) (0.7)
Foreign currency exchange (gains) losses (10.3) 4.4 (7.4) 5.7
Total expenses 447.3 469.0 919.1 961.4
Income before income taxes (4.1) 78.7 7.9 109.9
Income tax provision 12.1 8.9 25.1 10.3
Net income (loss) (16.2) 69.8 (17.2) 99.6
Dividends on preferred shares 2.7 2.7 5.3 5.3
Net Loss attributable to common shareholders, diluted (18.9) 67.1 (22.5) 94.3
Net Loss attributable to common shareholders, basic $ (18.9) $ 67.1 $ (22.5) $ 94.3
Net income (loss) attributable to common shareholders per common share:        
Basic (in dollars per share) $ (0.54) $ 1.93 $ (0.64) $ 2.72
Diluted (in dollars per share) (0.54) 1.92 (0.64) 2.70
Cash dividend declared - common shares (in dollars per share) $ 0.31 $ 0.31 $ 0.62 $ 0.62
Weighted average common shares:        
Basic (in shares) 34,964,773 34,820,649 34,928,555 34,766,948
Diluted (in shares) 34,964,773 35,012,780 34,928,555 34,983,804