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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Investments:    
Fixed maturities available-for-sale, at fair value (cost: 2022 - $3,016.4, 2021 - $4,203.2; allowance for expected credit losses: 2022 - $2.8, 2021 - $2.5) $ 2,675.5 $ 4,223.3
Commercial mortgage loans (cost: 2022 - $159.9; allowance for expected credit losses: 2022 - $0.2) 159.7 0.0
Equity securities, at fair value (cost: 2022 - $54.7; 2021 - $70.3) 43.9 56.3
Other investments (cost: 2022 - $323.2; 2021 - $387.0) 323.2 387.2
Short-term investments, at fair value (cost: 2022 - $449.4; 2021 - $655.4) 449.6 655.8
Investments 3,651.9 5,322.6
Cash 50.2 146.1
Accrued investment income 18.6 20.9
Premiums receivable 292.0 648.6
Reinsurance recoverables 3,029.1 2,966.4
Goodwill 118.6 147.3
Intangible assets, net of accumulated amortization 0.0 17.3
Current income taxes receivable, net 44.9 7.3
Deferred tax assets, net 101.2 73.6
Deferred acquisition costs, net 107.0 168.0
Ceded unearned premiums 375.5 506.7
Operating lease right-of-use assets 57.7 81.4
Other assets 121.5 211.6
Assets held-for-sale 2,066.2 0.0
Total assets 10,034.4 10,317.8
Liabilities and Shareholders' Equity    
Reserves for losses and loss adjustment expenses 5,051.6 5,595.0
Unearned premiums 1,039.9 1,466.8
Accrued underwriting expenses and other liabilities 121.3 166.6
Ceded reinsurance payable, net 158.7 724.4
Funds held 50.0 76.6
Senior unsecured fixed rate notes 140.5 140.3
Other indebtedness 0.0 57.0
Junior subordinated debentures 258.6 258.2
Operating lease liabilities 66.4 97.7
Liabilities held-for-sale 1,914.5 0.0
Total liabilities 8,801.5 8,582.6
Commitments and contingencies (Note 18)
Shareholders' equity:    
Preferred shares and additional paid-in capital - $1.00 par, 30,000,000 shares authorized; 6,000 and 6,000 shares issued at December 31, 2022 and December 31, 2021, respectively; liquidation preference $25,000 144.0 144.0
Common shares - $1.00 par, 500,000,000 shares authorized; 46,379,297 and 46,192,867 shares issued at December 31, 2022 and December 31, 2021, respectively 46.4 46.2
Additional paid-in capital 1,395.4 1,386.4
Treasury shares (11,318,339 and 11,315,889 shares at December 31, 2022 and December 31, 2021, respectively) (455.1) (455.1)
Retained earnings 407.3 636.4
Accumulated other comprehensive loss, net of taxes (305.1) (22.7)
Total shareholders' equity 1,232.9 1,735.2
Total liabilities and shareholders' equity $ 10,034.4 $ 10,317.8
Treasury shares (in shares) 11,318,339 11,315,889