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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2023
Dec. 31, 2022
Investments:    
Fixed maturities available-for-sale, at fair value (amortized cost: 2023 - $2,969.8, 2022 - $3,016.4; allowance for expected credit losses: 2023 - $2.7, 2022 - $2.8) $ 2,664.4 $ 2,675.5
Commercial mortgage loans (cost: 2023 - $159.9, 2022 - $159.9; allowance for expected credit losses: 2023 - $0.2, 2022 - $0.2) 159.7 159.7
Equity securities, at fair value (cost: 2023 - $48.7; 2022 - $54.7) 44.2 43.9
Other investments (cost: 2023 - $323.0; 2022 - $323.2) 323.0 323.2
Short-term investments, at fair value (amortized cost: 2023 - $694.5; 2022 - $449.4) 694.6 449.6
Total investments 3,885.9 3,651.9
Cash 36.4 50.2
Accrued investment income 18.8 18.6
Premiums receivable 271.1 292.0
Reinsurance recoverables 3,016.9 3,029.1
Goodwill 118.6 118.6
Current income taxes receivable, net 47.2 44.9
Deferred tax asset, net 93.5 101.2
Deferred acquisition costs, net 103.9 107.0
Ceded unearned premiums 367.8 375.5
Operating lease right-of-use assets 54.8 57.7
Other assets 189.2 121.5
Assets held-for-sale 0.0 2,066.2
Total assets 8,204.1 10,034.4
Liabilities and Shareholders' Equity    
Reserves for losses and loss adjustment expenses 5,184.1 5,051.6
Unearned premiums 994.3 1,039.9
Accrued underwriting expenses and other liabilities 92.5 121.3
Ceded reinsurance payable, net 174.7 158.7
Funds held 51.8 50.0
Senior unsecured fixed rate notes 140.5 140.5
Junior subordinated debentures 258.7 258.6
Operating lease liabilities 63.0 66.4
Liabilities held-for-sale 0.0 1,914.5
Total liabilities 6,959.6 8,801.5
Commitments and contingencies (Note 14)
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 March 31, 2023 and December 31, 2022, respectively; liquidation preference $25,000 144.0 144.0
Common shares - $1.00 par, 500,000,000 shares authorized; 46,469,201 and 46,379,297 shares issued at March 31, 2023 and December 31, 2022, respectively 46.5 46.4
Additional paid-in capital 1,396.6 1,395.4
Treasury shares (11,318,339 and 11,318,339 shares at March 31, 2023 and December 31, 2022, respectively) (455.1) (455.1)
Retained earnings 370.9 407.3
Accumulated other comprehensive loss, net of taxes (258.4) (305.1)
Total shareholders' equity 1,244.5 1,232.9
Total liabilities and shareholders' equity $ 8,204.1 $ 10,034.4