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Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenues    
Gross premiums written $ 1,514.3 $ 1,245.3
Reinsurance premiums ceded (736.2) (585.6)
Net premiums written 778.1 659.7
Change in net unearned premiums (290.1) (273.7)
Net premiums earned 488.0 386.0
Net realized and unrealized investment gains/(losses) (9.0) 2.8
Net investment income 41.0 20.4
Other income 0.0 3.5
Total revenues before net gain on distribution of The Fidelis Partnership 520.0 412.7
Net gain on distribution of The Fidelis Partnership 0.0 1,639.1
Total revenues 520.0 2,051.8
Expenses    
Losses and loss adjustment expenses 182.3 159.6
Policy acquisition expenses (includes The Fidelis Partnership commissions of $76.7 (2023: $24.2)) 212.9 129.2
General and administrative expenses 23.6 16.6
Corporate and other expenses 0.0 1.5
Net foreign exchange (gains)/losses (2.5) 1.5
Financing costs 8.6 8.6
Total expenses 424.9 317.0
Income before income taxes 95.1 1,734.8
Income tax expense 13.9 2.2
Net income 81.2 1,732.6
Other comprehensive income/(loss)    
Unrealized gains/(losses) on available-for-sale investments (8.2) 24.9
Reclassification of net realized losses recognized in net income 7.4 0.0
Income tax (expense)/benefit, all of which relates to unrealized gains/(losses) on available-for-sale investments 0.6 (2.0)
Total other comprehensive income/(loss) (0.2) 22.9
Comprehensive income $ 81.0 $ 1,755.5
Per share data earnings per common share    
Earnings per common share (in dollars per share) $ 0.69 $ 15.64
Earnings per diluted common share (in dollars per share) $ 0.69 $ 15.64
Weighted average basic common shares outstanding (in shares) 117,658,016 110,771,897
Weighted average diluted common shares outstanding (in shares) 118,348,384 110,771,897