Reinsurance (Tables)

12 Months Ended

Dec. 31, 2019

Reinsurance

Schedule of reinsurance recoverable

	December 31,
	2018		2019
Reinsurance recoverable on paid losses	$	0.5	$	1.8
Ceded unpaid loss and LAE		11.3		18.5
Total reinsurance recoverable	$	11.8	$	20.3

Schedule of unsecured reinsurance recoverable balances from reinsurers

balances from reinsurers at December 31, 2018 and 2019 with all but one having an A.M. Best rating of A (Excellent) or better ($ in millions):

		Year Ended
AM Best		December 31,
Rating	Reinsurer	2018		2019
A+	Hannover Rueck SE	$	1.5	$	2.3
A+	Munich Reinsurance America Inc		1.1		1.7
A	Lloyd’s Underwriter Syndicate no. 0033 HIS		1.1		1.7
A	Lloyd’s Underwriter Syndicate no. 2357 NCL		1.1		1.7
A	Hiscox Insurance Company (Bermuda) Ltd		1.0		1.3
NR	Lloyd’s Underwriter Syndicate no. 2001 AML		0.9		1.3
			6.7		10.0
	Other reinsurers		2.7		4.5
		$	9.4	$	14.5

Schedule of premium written, earned and losses and LAE incurred

The impact of reinsurance treaties on the Company’s consolidated financial statements is as follows ($ in millions):

	December 31,
	2018		2019
Premium written:
Direct	$	46.8	$	115.8
Ceded		(5.6)		(11.2)
Net premium written	$	41.2	$	104.6
Premium earned:
Direct	$	25.3	$	75.5
Ceded		(4.1)		(11.7)
Net premium earned	$	21.2	$	63.8
Losses and LAE incurred:
Direct	$	28.6	$	59.7
Ceded		(13.4)		(13.9)
Net losses and LAE incurred	$	15.2	$	45.8