Segment Information (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of Revenue and Income (Loss) Before Income Taxes for Each Segment

Revenue and income (loss) before income taxes for each segment were as follows:


	Successor		Predecessor		Successor		Predecessor
(in millions)	Three Months Ended September 30, 2024		Three Months Ended September 30, 2023		Nine Months Ended September 30, 2024		Nine Months Ended September 30, 2023
Revenue:
Net earned premiums
U.S. Operations	$	210.4	$	314.1	$	761.9	$	950.9
International Operations	23.9		28.5		75.8		111.4
Run-off Lines	—		0.1		0.2		0.2
Total net earned premiums	234.3		342.7		837.9		1,062.5
Net investment income
U.S. Operations	52.3		33.2		158.4		84.7
International Operations	7.6		6.2		22.8		15.8
Run-off Lines	2.4		1.0		5.9		2.4

Total net investment income	62.3		40.4		187.1		102.9
Net investment and other gains (losses)	(0.2)		(4.7)		30.8		(21.0)
Total revenue	$	296.4	$	378.4	$	1,055.8	$	1,144.4


	Successor		Predecessor		Successor		Predecessor
(in millions)	Three Months Ended September 30, 2024		Three Months Ended September 30, 2023		Nine Months Ended September 30, 2024		Nine Months Ended September 30, 2023
Income (loss) before income taxes
U.S. Operations	$	(100.3)	$	(14.0)	$	(74.3)	$	(23.2)
International Operations	(67.1)		(2.6)		(70.1)		9.3
Run-off Lines	(5.7)		—		(5.1)		(1.0)
Total segment income (loss) before income taxes	(173.1)		(16.6)		(149.5)		(14.9)
Corporate and Other	2.8		(11.3)		(5.6)		(39.2)
Net investment and other gains (losses)	(0.2)		(4.7)		30.8		(21.0)
Foreign currency exchange gains (losses)	3.8		3.3		3.1		(0.1)

Total income (loss) before income taxes	$	(166.7)	$	(29.3)	$	(121.2)	$	(75.2)

Schedule of Earned Premiums by Geographic Location

The table below presents net earned premiums by geographic location for the three and nine months ended September 30, 2024 and 2023. For this disclosure, we determine geographic location by the country of domicile of our subsidiaries that underwrite the business and not by the location of insureds or reinsureds from whom the business was generated.


	Successor		Predecessor		Successor		Predecessor
(in millions)	Three Months Ended September 30, 2024		Three Months Ended September 30, 2023		Nine Months Ended September 30, 2024		Nine Months Ended September 30, 2023
United States	$	210.4	$	314.2	$	762.1	$	951.1
United Kingdom	—		—		—		48.3
Bermuda	23.9		28.5		75.8		63.1


Total earned premiums	$	234.3	$	342.7	$	837.9	$	1,062.5

Schedule of Identifiable Assets

The following table represents identifiable assets:


	As of
(in millions)	September 30, 2024		December 31, 2023
U.S. Operations	$	6,788.6	$	6,279.0
International Operations	1,705.9		1,888.9
Run-off Lines	215.7		221.4
Corporate and Other	106.4		113.8
Total assets	$	8,816.6	$	8,503.1