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Consolidated Statements of Income and Comprehensive Income - USD ($)
$ in Millions
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenues      
Gross premiums written $ 3,579.0 $ 3,018.1 $ 2,800.8
Reinsurance premiums ceded (1,442.4) (1,159.7) (1,194.2)
Net premiums written 2,136.6 1,858.4 1,606.6
Change in net unearned premiums (304.0) (357.9) (446.9)
Net premiums earned 1,832.6 1,500.5 1,159.7
Net realized and unrealized investment gains/(losses) 4.9 (33.7) 13.5
Net investment income 119.5 40.7 20.6
Other income 0.1 1.9 1.0
Total revenues before net gain on distribution of Fidelis MGU 1,957.1 1,509.4 1,194.8
Net gain on distribution of Fidelis MGU 1,639.1 0.0 0.0
Total revenues 3,596.2 1,509.4 1,194.8
Expenses      
Losses and loss adjustment expenses 698.8 830.2 696.8
Policy acquisition expenses (includes Fidelis MGU commissions of $225.3 (2022: $nil and 2021: $nil)) 723.8 384.4 250.1
General and administrative expenses 82.7 165.5 130.7
Corporate and other expenses 4.1 20.5 2.7
Net foreign exchange (gains)/losses (4.1) 6.8 (0.4)
Financing costs 35.5 35.5 35.4
Total expenses 1,549.0 1,429.3 1,116.1
Income before income taxes 2,047.2 80.1 78.7
Income tax benefit 85.3 (17.8) (0.4)
Net income 2,132.5 62.3 78.3
Net income attributable to non-controlling interests 0.0 (9.7) (10.0)
Net income available to common shareholders 2,132.5 52.6 68.3
Other comprehensive income/(loss)      
Unrealized gains/(losses) on available-for-sale investments 82.4 (96.5) (36.1)
Income tax (expense)/benefit, all of which relates to unrealized gains/(losses) on available-for-sale investments (9.7) 8.1 2.4
Currency translation adjustments 0.0 (1.1) (0.2)
Total other comprehensive income/(loss) 72.7 (89.5) (33.9)
Comprehensive income/(loss) attributable to common shareholders $ 2,205.2 $ (36.9) $ 34.4
Per share data earnings per common share      
Earnings per common share (in dollars per share) $ 18.65 $ 0.27 $ 0.35
Earnings per diluted common share (in dollars per share) $ 18.65 $ 0.26 $ 0.34
Weighted average basic common shares outstanding (in shares) 114,313,971 194,290,180 195,491,804
Weighted average diluted common shares outstanding (in shares) 114,324,683 199,323,854 200,380,241