RETROCESSION	3 Months Ended
Mar. 31, 2020
Reinsurance Disclosures [Abstract]
RETROCESSION	RETROCESSION The Company, from time to time, purchases retrocessional coverage for one or more of the following reasons: to manage its overall exposure, to reduce its net liability on individual risks, to obtain additional underwriting capacity and to balance its underwriting portfolio. Loss and loss adjustment expenses recoverable from retrocessionaires are recorded as assets. For the three months ended March 31, 2020, the Company’s earned ceded premiums were $1.0 million (2019: $22.2 million). For the three months ended March 31, 2020, loss and loss adjustment expenses incurred of $75.7 million (2019: $122.9 million), reported on the condensed consolidated statements of operations are net of loss and loss expenses recovered and recoverable of $3.5 million (2019: $26.3 million). Retrocession contracts do not relieve the Company from its obligations to the insureds. Failure of retrocessionaires to honor their obligations could result in losses to the Company. At March 31, 2020, the Company’s loss reserves recoverable consisted of (i) $17.9 million (December 31, 2019: $21.2 million) from unrated retrocessionaires, of which $17.4 million (December 31, 2019: $20.0 million) were secured by cash, letters of credit and collateral held in trust accounts for the benefit of the Company and (ii) $5.2 million (December 31, 2019: $6.4 million) from retrocessionaires rated A- or above by A.M. Best. The Company regularly evaluates its net credit exposure to assess the ability of the retrocessionaires to honor their respective obligations. At March 31, 2020, the Company had recorded an allowance for expected credit losses of $0.1 million (December 31, 2019: nil).

RETROCESSION

The Company, from time to time, purchases retrocessional coverage for one or more of the following reasons: to manage its overall exposure, to reduce its net liability on individual risks, to obtain additional underwriting capacity and to balance its underwriting portfolio. Loss and loss adjustment expenses recoverable from retrocessionaires are recorded as assets.

For the three months ended March 31, 2020, the Company’s earned ceded premiums were $1.0 million (2019: $22.2 million). For the three months ended March 31, 2020, loss and loss adjustment expenses incurred of $75.7 million (2019: $122.9 million), reported on the condensed consolidated statements of operations are net of loss and loss expenses recovered and recoverable of $3.5 million (2019: $26.3 million).

Retrocession contracts do not relieve the Company from its obligations to the insureds. Failure of retrocessionaires to honor their obligations could result in losses to the Company. At March 31, 2020, the Company’s loss reserves recoverable consisted of (i) $17.9 million (December 31, 2019: $21.2 million) from unrated retrocessionaires, of which $17.4 million (December 31, 2019: $20.0 million) were secured by cash, letters of credit and collateral held in trust accounts for the benefit of the Company and (ii) $5.2 million (December 31, 2019: $6.4 million) from retrocessionaires rated A- or above by A.M. Best.

The Company regularly evaluates its net credit exposure to assess the ability of the retrocessionaires to honor their respective obligations. At March 31, 2020, the Company had recorded an allowance for expected credit losses of $0.1 million (December 31, 2019: nil).