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CONSOLIDATED STATEMENTS OF INCOME (LOSS) - USD ($)
$ in Millions
2 Months Ended 11 Months Ended 12 Months Ended
Dec. 31, 2023
Nov. 15, 2023
Dec. 31, 2024
Dec. 31, 2022
Premiums and other revenue:        
Net earned premiums $ 162.3 $ 1,225.9 $ 1,089.8 $ 1,740.4
Net investment income 28.6 121.3 249.8 129.8
Net investment and other gains (losses):        
Net realized investment and other gains (losses) 0.1 (20.4) 11.6 (115.9)
Change in fair value recognized (0.2) (0.2) 14.2 3.1
Change in allowance for credit losses (0.2) (2.1) (5.8) (2.5)
Total net investment and other gains (losses) (0.3) (22.7) 20.0 (115.3)
Total revenue 190.6 1,324.5 1,359.6 1,754.9
Expenses:        
Losses and loss adjustment expenses 94.2 1,043.2 1,018.3 1,166.9
Underwriting, acquisition and general expenses 77.2 419.0 477.0 670.7
Non-operating expenses 13.1 41.1 17.6 51.5
Interest expense 3.5 29.8 38.1 26.8
Fee and other (income) expense, net (0.2) (0.3) (0.1) (1.3)
Foreign currency exchange (gains) losses 0.6 1.8 (1.0) (5.0)
Impairment of goodwill and intangibles 0.0 0.0 0.0 28.5
Total expenses 188.4 1,534.6 1,549.9 1,938.1
Income (loss) before income taxes 2.2 (210.1) (190.3) (183.2)
Income tax provision (benefit) 1.3 0.3 (42.2) (8.0)
Net income (loss) 0.9 (210.4) (148.1) (175.2)
Dividends on Series A Preferred stock 0.0 10.5 10.5 10.5
Net income (loss) attributable to common shareholders, diluted 0.9 (220.9) (158.6) (185.7)
Net income (loss) attributable to common shareholders, basic 0.9 $ (220.9) (158.6) $ (185.7)
Net income (loss) attributable to common stockholders per share of common stock:        
Basic (in dollars per share)   $ (6.28)   $ (5.31)
Diluted (in dollars per share)   (6.28)   (5.31)
Dividend declared per common share (in dollars per share)   $ 0   $ 1.24
Weighted average common stock:        
Basic (in shares)   35,166,679   34,980,608
Diluted (in shares)   35,166,679   34,980,608
Net realized investment gains (losses) before other-than-temporary impairment losses (0.3) $ (19.8) 20.0 $ (79.2)
Other-than-temporary impairment losses recognized in earnings:        
Other-than-temporary impairment losses on fixed maturities, recognized in earnings $ 0.0 $ (2.9) $ 0.0 $ (36.1)