Deferred Acquisition Costs

12 Months Ended

Dec. 31, 2024

Insurance [Abstract]

Deferred Acquisition Costs

Deferred Acquisition Costs

Deferred acquisition costs consist primarily of commissions and premium taxes incurred that are directly related to the successful acquisition of insurance policies written on a direct basis. The amortization of deferred acquisition costs is included in “Other insurance expense” in the consolidated statements of operations and comprehensive loss. The following table presents the policy acquisition costs deferred and amortized ($ in millions):

	December 31,
	2024		2023
Deferred Acquisition Costs:
Balance, January 1	$	8.8	$	6.9
Add:
Premium taxes	21.2		16.1
Direct commissions	12.7		7.6
Less:
Amortization of net deferred acquisition costs	(30.5)		(21.8)
Balance, December 31	$	12.2	$	8.8
Other Insurance Expense:
Amortization of net deferred acquisition costs	$	30.5	$	21.8
Period costs	46.3		37.4
Total other insurance expense	$	76.8	$	59.2