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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Sep. 30, 2022
Dec. 31, 2021
Investments:    
Fixed maturities available-for-sale, at fair value (amortized cost: 2022 - $4,131.5, 2021 - $4,203.2; allowance for expected credit losses: 2022 - $3.3, 2021 - $2.5) $ 3,730.3 $ 4,223.3
Commercial mortgage loans (cost: 2022 - $158.8; allowance for expected credit losses: 2022 - $0.2) 158.6 0.0
Equity securities, at fair value (cost: 2022 - $55.3; 2021 - $70.3) 43.9 56.3
Other investments (cost: 2022 - $401.6; 2021 - $387.0) 401.6 387.2
Short-term investments, at fair value (amortized cost: 2022 - $570.2; 2021 - $655.4) 570.7 655.8
Total investments 4,905.1 5,322.6
Cash 99.4 146.1
Accrued investment income 23.1 20.9
Premiums receivable 656.5 648.6
Reinsurance recoverables 3,015.8 2,966.4
Goodwill 136.1 147.3
Intangible assets, net of accumulated amortization 0.0 17.3
Current income taxes receivable, net 2.8 7.3
Deferred tax asset, net 151.8 73.6
Deferred acquisition costs, net 183.4 168.0
Ceded unearned premiums 450.8 506.7
Operating lease right-of-use assets 60.3 81.4
Other assets 173.6 211.6
Total assets 9,858.7 10,317.8
Liabilities and Shareholders' Equity    
Reserves for losses and loss adjustment expenses 5,731.4 5,595.0
Unearned premiums 1,404.9 1,466.8
Accrued underwriting expenses and other liabilities 120.3 166.6
Ceded reinsurance payable, net 503.1 724.4
Funds held 253.7 76.6
Senior unsecured fixed rate notes 140.5 140.3
Other indebtedness 52.5 57.0
Junior subordinated debentures 258.5 258.2
Operating lease liabilities 68.9 97.7
Total liabilities 8,533.8 8,582.6
Commitments and contingencies (Note 14)
Shareholders' equity:    
Preferred shares and additional paid-in capital - $1.00 par, 30,000,000 shares authorized; 6,000 shares issued at September 30, 2022 and December 31, 2021, respectively; liquidation preference $25,000 144.0 144.0
Common shares - $1.00 par, 500,000,000 shares authorized; 46,339,696 and 46,192,867 shares issued at September 30, 2022 and December 31, 2021, respectively 46.3 46.2
Additional paid-in capital 1,392.6 1,386.4
Treasury shares (11,318,339 shares at September 30, 2022 and December 31, 2021, respectively) (455.1) (455.1)
Retained earnings 530.0 636.4
Accumulated other comprehensive loss, net of taxes (332.9) (22.7)
Total shareholders' equity 1,324.9 1,735.2
Total liabilities and shareholders' equity $ 9,858.7 $ 10,317.8