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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Sep. 30, 2024
Dec. 31, 2023
Investments:    
Fixed maturities available-for-sale, at fair value (cost: $2,283.6 and $2,521.5, respectively; allowance for expected credit losses: $1.0 and $0.2, respectively) $ 2,368.2 $ 2,585.4
Equity securities, at fair value (cost: $56.7 and $11.7, respectively) 85.3 10.7
Other investments (cost: $425.9 and $311.0, respectively) 430.3 311.0
Short-term investments, at fair value (cost: $656.7 and $429.0, respectively) 657.1 429.5
Total investments 3,976.0 3,481.2
Cash, restricted cash and cash equivalents 558.0 791.6
Accrued investment income 19.8 20.4
Premiums receivable 191.7 230.7
Reinsurance recoverables 3,130.7 2,959.3
Other intangible assets, net of accumulated amortization 149.5 180.6
Current income taxes receivable, net 22.6 53.1
Deferred tax asset, net 65.9 39.1
Deferred acquisition costs, net 51.7 7.2
Ceded unearned premiums 384.8 356.0
Operating lease right-of-use assets 49.3 51.2
Other assets 171.0 189.1
Value of business acquired, net of accumulated amortization 45.6 143.6
Total assets 8,816.6 8,503.1
Liabilities and Stockholders' Equity    
Reserves for losses and loss adjustment expenses 5,792.9 5,544.5
Unearned premiums 839.4 916.6
Accrued underwriting expenses and other liabilities 109.0 73.9
Ceded reinsurance payable, net 211.8 192.7
Funds held 44.5 57.3
Senior unsecured fixed rate notes 128.7 128.0
Junior subordinated debentures 242.7 241.2
Operating lease liabilities 50.5 51.4
Total liabilities 7,419.5 7,205.6
Commitments and contingencies (Note 12)
Stockholders' equity:    
Series A Preferred stock and additional paid-in capital ($1.00 par; 10,000 and 30,000,000 shares authorized, respectively; 6,000 shares issued; liquidation preference $25,000) 137.1 137.1
Common stock ($0.01 and $1.00 par, respectively; 1,000 and 2,000,000,000 shares authorized, respectively; 13 and 1,056,638,730 shares issued, respectively) 0.0 1,056.6
Additional paid-in capital 1,292.4 51.1
Retained earnings (Accumulated deficit) (101.0) 0.9
Accumulated other comprehensive income, net of taxes 68.6 51.8
Total stockholders' equity 1,397.1 1,297.5
Total liabilities and stockholders' equity 8,816.6 8,503.1
Mortgage Loans    
Investments:    
Loans 234.9 144.6
Private Loans    
Investments:    
Loans $ 200.2 $ 0.0