Deferred Acquisition Costs

12 Months Ended

Dec. 31, 2025

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 income (loss). The following table presents the policy acquisition costs deferred and amortized ($ in millions):

	December 31,
	2025		2024
Deferred Acquisition Costs:
Balance, January 1	$	12.2	$	8.8
Add:
Premium taxes	23.1		21.2
Direct commissions	8.9		12.7
Less:
Amortization of net deferred acquisition costs	(32.1)		(30.5)
Balance, December 31	$	12.1	$	12.2
Other Insurance Expense:
Amortization of net deferred acquisition costs	$	32.1	$	30.5
Period costs	61.6		46.3
Total other insurance expense	$	93.7	$	76.8