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Consolidated Balance Sheets - USD ($)
$ in Millions
Dec. 31, 2023
Dec. 31, 2022
Investments:    
Fixed maturities available-for-sale, at fair value (cost: 2023 - $2,521.5, 2022 - $3,016.4; allowance for expected credit losses: 2023 - $0.2, 2022 - $2.8) $ 2,585.4 $ 2,675.5
Commercial mortgage loans (cost: 2023 - $144.8, 2022 - $159.9; allowance for expected credit losses: 2023 - $0.2, 2022 - $0.2) 144.6 159.7
Equity securities, at fair value (cost: 2023 - $11.7; 2022 - $54.7) 10.7 43.9
Other investments (cost: 2023 - $311.0; 2022 - $323.2) 311.0 323.2
Short-term investments, at fair value (cost: 2023 - $429.0; 2022 - $449.4) 429.5 449.6
Investments 3,481.2 3,651.9
Cash, restricted cash and cash equivalents 791.6 50.2
Accrued investment income 20.4 18.6
Premiums receivable 230.7 292.0
Reinsurance recoverables 2,959.3 3,029.1
Goodwill 0.0 118.6
Other intangible assets, net of accumulated amortization 180.6 0.0
Current income taxes receivable, net 53.1 44.9
Deferred tax assets, net 39.1 101.2
Deferred acquisition costs, net 7.2 107.0
Ceded unearned premiums 356.0 375.5
Operating lease right-of-use assets 51.2 57.7
Other assets 189.1 121.5
Value of business acquired, net of accumulated amortization 143.6 0.0
Assets held-for-sale 0.0 2,066.2
Total assets 8,503.1 10,034.4
Liabilities and Stockholders' Equity    
Reserves for losses and loss adjustment expenses 5,544.5 5,051.6
Unearned premiums 916.6 1,039.9
Accrued underwriting expenses and other liabilities 73.9 121.3
Ceded reinsurance payable, net 192.7 158.7
Funds held 57.3 50.0
Senior unsecured fixed rate notes 128.0 140.5
Junior subordinated debentures 241.2 258.6
Operating lease liabilities 51.4 66.4
Liabilities held-for-sale 0.0 1,914.5
Total liabilities 7,205.6 8,801.5
Commitments and contingencies
Stockholders' equity:    
Series A Preferred stock and additional paid-in capital - $1.00 par, 30,000,000 shares authorized; 6,000 and 6,000 shares issued at December 31, 2023 and December 31, 2022, respectively; liquidation preference $25,000 137.1 144.0
Common stock - $1.00 par, 2,000,000,000 and 500,000,000 shares authorized at December 31, 2023 and December 31, 2022, respectively; 1,056,638,730 and 46,379,297 shares issued at December 31, 2023 and December 31, 2022, respectively 1,056.6 46.4
Additional paid-in capital 51.1 1,395.4
Treasury shares (0 and 11,318,339 shares at December 31, 2023 and December 31, 2022, respectively) 0.0 (455.1)
Retained earnings 0.9 407.3
Accumulated other comprehensive gain (loss), net of taxes 51.8 (305.1)
Total stockholders' equity 1,297.5 1,232.9
Total liabilities and stockholders' equity $ 8,503.1 $ 10,034.4