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Condensed Consolidated Balance Sheets - USD ($)
$ in Millions
Mar. 31, 2024
Dec. 31, 2023
Investments:    
Fixed maturities available-for-sale, at fair value (cost: 2024 - $2,370.0, 2023 - $2,521.5; allowance for expected credit losses: 2024 - $0.2, 2023 - $0.2) $ 2,413.4 $ 2,585.4
Mortgage loans (cost: 2024 - $171.6, 2023 - $144.8; allowance for expected credit losses: 2024 - $0.5, 2023 - $0.2) 171.1 144.6
Equity securities, at fair value (cost: 2024 - $9.5; 2023 - $11.7) 8.6 10.7
Other investments (cost: 2024 - $344.4; 2023 - $311.0) 344.4 311.0
Short-term investments, at fair value (cost: 2024 - $1,073.7; 2023 - $429.0) 1,073.6 429.5
Total investments 4,011.1 3,481.2
Cash, restricted cash and cash equivalents 462.4 791.6
Accrued investment income 18.0 20.4
Premiums receivable 209.8 230.7
Reinsurance recoverables 2,933.1 2,959.3
Other intangible assets, net of accumulated amortization 170.3 180.6
Current income taxes receivable, net 54.2 53.1
Deferred tax asset, net 41.7 39.1
Deferred acquisition costs, net 32.2 7.2
Ceded unearned premiums 353.7 356.0
Operating lease right-of-use assets 52.8 51.2
Other assets 196.9 189.1
Value of business acquired, net of accumulated amortization 110.9 143.6
Total assets 8,647.1 8,503.1
Liabilities and Stockholders' Equity    
Reserves for losses and loss adjustment expenses 5,543.1 5,544.5
Unearned premiums 842.1 916.6
Accrued underwriting expenses and other liabilities 56.3 73.9
Ceded reinsurance payable, net 229.4 192.7
Funds held 48.6 57.3
Borrowing under revolving credit facility 100.0 0.0
Senior unsecured fixed rate notes 128.1 128.0
Junior subordinated debentures 241.6 241.2
Operating lease liabilities 53.4 51.4
Total liabilities 7,242.6 7,205.6
Commitments and contingencies (Note 12)
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 March 31, 2024 and December 31, 2023, respectively; liquidation preference $25,000 137.1 137.1
Common stock - $1.00 par, 2,000,000,000 shares authorized; 1,156,638,730 and 1,056,638,730 shares issued at March 31, 2024 and December 31, 2023, respectively 1,156.6 1,056.6
Additional paid-in capital 51.1 51.1
Retained earnings 23.9 0.9
Accumulated other comprehensive income, net of taxes 35.8 51.8
Total stockholders' equity 1,404.5 1,297.5
Total liabilities and stockholders' equity $ 8,647.1 $ 8,503.1