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CONDENSED CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($)
$ in Millions
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Premiums and other revenue:        
Net earned premiums $ 234.3 $ 342.7 $ 837.9 $ 1,062.5
Net investment income 62.3 40.4 187.1 102.9
Net investment and other gains (losses):        
Net realized investment and other (losses) gains 0.8 7.4 5.8 (21.0)
Change in fair value recognized 0.0 (10.1) 26.4 2.1
Change in allowance for credit losses on fixed maturity securities (1.0) (2.0) (1.4) (2.1)
Total 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
Expenses:        
Losses and loss adjustment expenses 346.8 280.9 793.5 806.9
Underwriting, acquisition and general expenses 110.9 116.1 344.8 364.0
Non-operating expenses (income) (0.2) 5.1 12.7 23.5
Interest expense 9.4 8.7 29.2 25.4
Fee and other expense (income), net 0.0 0.2 (0.1) (0.3)
Foreign currency exchange (gains) losses (3.8) (3.3) (3.1) 0.1
Total expenses 463.1 407.7 1,177.0 1,219.6
Income (loss) before income taxes (166.7) (29.3) (121.2) (75.2)
Income tax provision (benefit) (34.4) 17.6 (27.2) 3.3
Net income (loss) (132.3) (46.9) (94.0) (78.5)
Dividends on Series A Preferred stock 2.6 2.6 7.9 7.9
Net income (loss) attributable to common stockholders (134.9) (49.5) (101.9) (86.4)
Net income (loss) attributable to common stockholders $ (134.9) $ (49.5) $ (101.9) $ (86.4)
Net income (loss) attributable to common stockholders per share of common stock:        
Basic (in dollars per share)   $ (1.41)   $ (2.46)
Diluted (in dollars per share)   (1.41)   (2.46)
Dividend declared per common share (in dollars per share)   $ 0   $ 0
Weighted average common stock:        
Basic (in shares)   35,197,824   35,158,416
Diluted (in shares)   35,197,824   35,158,416