Long-term Debt (Tables)

12 Months Ended

Dec. 31, 2024

Debt Disclosure [Abstract]

Schedule of Unamortized Debt Issuance Costs Deducted from Carrying Value of Debt Liability

At December 31, 2024 and 2023, the Notes consisted of the following:

(in millions)	December 31, 2024		December 31, 2023
Senior unsecured fixed rate notes
Principal	$	143.8	$	143.8
Less: unamortized debt issuance costs and fair value adjustment	(15.0)		(15.8)
Senior unsecured fixed rate notes, less unamortized debt issuance costs	$	128.8	$	128.0

Schedule of Long-term Debt

A summary of our outstanding junior subordinated debentures is presented below:

December 31, 2024

(in millions)
Issue Date	Trust Preferred Pools	Maturity	Rate Structure	Interest Rate at December 31, 2024	Amount
Argo Group
5/15/2003	PXRE Capital Statutory Trust II	5/15/2033	3M SOFR + TSA + 4.10%	8.89%	$	18.0
11/6/2003	PXRE Capital Trust VI	9/30/2033	3M SOFR + TSA + 3.90%	8.49%	10.3
Argo Group U.S.
5/15/2003	Argonaut Group Statutory Trust I	5/15/2033	3M SOFR + TSA + 4.10%	8.89%	15.5
12/16/2003	Argonaut Group Statutory Trust III	1/8/2034	3M SOFR + TSA + 4.10%	9.02%	12.3
4/29/2004	Argonaut Group Statutory Trust IV	4/29/2034	3M SOFR + TSA + 3.85%	8.64%	13.4
5/26/2004	Argonaut Group Statutory Trust V	5/24/2034	3M SOFR + TSA + 3.85%	8.63%	12.4
5/12/2004	Argonaut Group Statutory Trust VI	6/17/2034	3M SOFR + TSA + 3.80%	8.41%	13.4
9/17/2004	Argonaut Group Statutory Trust VII	12/15/2034	3M SOFR + TSA + 3.60%	8.22%	15.5
9/22/2004	Argonaut Group Statutory Trust VIII	9/22/2034	3M SOFR + TSA + 3.55%	8.15%	15.5
10/22/2004	Argonaut Group Statutory Trust IX	12/15/2034	3M SOFR + TSA + 3.60%	8.22%	15.5
9/15/2005	Argonaut Group Statutory Trust X	9/15/2035	3M SOFR + TSA + 3.40%	8.02%	30.9
	Less: fair value adjustment				(10.7)
	Total Outstanding				$	162.0

December 31, 2023

(in millions)
Issue Date	Trust Preferred Pools	Maturity	Rate Structure	Interest Rate at December 31, 2023	Amount
Argo Group
5/15/2003	PXRE Capital Statutory Trust II	5/15/2033	3M SOFR + TSA + 4.10%	9.74%	$	18.0
11/6/2003	PXRE Capital Trust VI	9/30/2033	3M SOFR + TSA + 3.90%	9.49%	10.3
Argo Group U.S.
5/15/2003	Argonaut Group Statutory Trust I	5/15/2033	3M SOFR + TSA + 4.10%	9.74%	15.5
12/16/2003	Argonaut Group Statutory Trust III	1/8/2034	3M SOFR + TSA + 4.10%	9.76%	12.3
4/29/2004	Argonaut Group Statutory Trust IV	4/29/2034	3M SOFR + TSA + 3.85%	9.49%	13.4
5/26/2004	Argonaut Group Statutory Trust V	5/24/2034	3M SOFR + TSA + 3.85%	9.49%	12.4
5/12/2004	Argonaut Group Statutory Trust VI	6/17/2034	3M SOFR + TSA + 3.80%	9.47%	13.4
9/17/2004	Argonaut Group Statutory Trust VII	12/15/2034	3M SOFR + TSA + 3.60%	9.25%	15.5
9/22/2004	Argonaut Group Statutory Trust VIII	9/22/2034	3M SOFR + TSA + 3.55%	9.18%	15.5
10/22/2004	Argonaut Group Statutory Trust IX	12/15/2034	3M SOFR + TSA + 3.60%	9.25%	15.5
9/15/2005	Argonaut Group Statutory Trust X	9/15/2035	3M SOFR + TSA + 3.40%	9.05%	30.9
	Less: fair value adjustment				(11.9)
	Total Outstanding				$	160.8

A summary of the terms of the acquired debt outstanding is presented below:

(in millions)
Issue Date	Maturity	Rate Structure	Interest Rate at December 31, 2024		Principal at December 31, 2024		Carrying Value at December 31, 2024
9/13/2007	9/15/2037	3M SOFR + TSA + 3.15%	7.77	%	$	91.8	$	81.2

(in millions)
Issue Date	Maturity	Rate Structure	Interest Rate at December 31, 2023		Principal at December 31, 2023		Carrying Value at December 31, 2023
9/13/2007	9/15/2037	3M SOFR + TSA + 3.15%	8.79	%	$	91.8	$	80.4

Schedule of Outstanding Balance

The following table presents interest and maturities of long-term debt as of December 31, 2024:

		For the Years Ended
(in millions)	Total	2025	2026	2027	2028	2029	Thereafter
Long-term debt:
Junior subordinated debentures (1)	504.9	22.8	22.8	22.8	22.8	22.8	390.9
Senior unsecured fixed rate notes (2)	307.2	9.3	9.3	9.3	9.3	9.3	260.7

(1) Interest only on Junior Subordinated Debentures through 2037. Interest calculated based on interest rate forecast. Principal due beginning May 2033.

(2) Interest only on Senior Unsecured Fixed Rate Notes through 2042. Interest calculated based on the fixed rate of the notes. Principal due September 2042.