Reserves for unpaid losses and loss adjustment expenses (Tables)

6 Months Ended

Jun. 30, 2019

Reserves for unpaid losses and loss adjustment expenses

Summary of the loss and LAE reserve activities

	Three months ended				Six months ended
	June 30,				June 30,
(Millions)	2019		2018		2019		2018
Gross beginning balance	$	1,976.3	$	1,875.9	$	2,016.7	$	1,898.5
Less beginning reinsurance recoverable on unpaid losses		(349.3)		(327.8)		(350.2)		(319.7)
Net loss and LAE reserve balance		1,627.0		1,548.1		1,666.5		1,578.8
Losses and LAE incurred relating to:
Current year losses		214.1		161.8		381.4		305.3
Prior years losses		63.9		(10.4)		80.5		(12.9)
Total net incurred losses and LAE		278.0		151.4		461.9		292.4
Foreign currency translation adjustment to net loss and LAE reserves		3.4		(22.2)		—		(15.5)
Accretion of fair value adjustment to net loss and LAE reserves		0.1		—		0.1		—
Loss and LAE paid relating to:
Current year losses		120.9		40.7		157.1		72.0
Prior years losses		121.7		167.8		305.5		314.9
Total loss and LAE payments		242.6		208.5		462.6		386.9
Net ending balance		1,665.9		1,468.8		1,665.9		1,468.8
Plus ending reinsurance recoverable on unpaid losses		357.4		358.3		357.4		358.3
Gross ending balance	$	2,023.3	$	1,827.1	$	2,023.3	$	1,827.1