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Segment information (Tables)
 3 Months Ended
Mar. 31, 2020
Segment Reporting [Abstract]  
Summary of segment results
The following tables summarize the segment results for the three months ended March 31, 2020 and 2019:
 
For the three months ended March 31, 2020
(Expressed in millions of U.S. dollars)
Global
Reinsurance

Global
A&H

U.S. Specialty

Runoff &
Other

Corporate
Elimination

Total

Gross written premiums
$
465.3

$
262.1

$
20.8

$
69.4

$
—

$
817.6

Net written premiums
$
345.4

$
200.7

$
15.2

$
68.6

$
—

$
629.9

Net earned insurance and reinsurance premiums
$
235.0

$
117.9

$
12.8

$
69.0

$
—

$
434.7

Loss and allocated LAE(1)
(257.2
)
(80.3
)
(7.7
)
(68.9
)
—

(414.1
)
Insurance and reinsurance acquisition expenses
(50.9
)
(30.8
)
(3.0
)
(0.4
)
10.4

(74.7
)
Technical profit
(73.1
)
6.8

2.1

(0.3
)
10.4

(54.1
)
Unallocated LAE(2)
(5.0
)
(1.7
)
(0.1
)
(0.8
)
(5.4
)
(13.0
)
Other underwriting expenses
(21.3
)
(5.6
)
(5.2
)
(0.9
)
(5.0
)
(38.0
)
Underwriting income
(99.4
)
(0.5
)
(3.2
)
(2.0
)
—

(105.1
)
Service fee revenue(3)
—

35.9

—

—

(11.0
)
24.9

Managing general underwriter unallocated LAE
—

(6.0
)
—

—

6.0

—

Managing general underwriter other underwriting expenses
—

(5.0
)
—

—

5.0

—

General and administrative expenses, MGU + Runoff & Other(4)
—

(14.2
)
—

(1.5
)
—

(15.7
)
Underwriting (loss) income, including net service fee income
(99.4
)
10.2

(3.2
)
(3.5
)
—

(95.9
)
Net investment income
 
 
 
 
 
13.5

Net realized investment gains
 
 
 
 
 
20.3

Net unrealized investment (losses) gains
 
 
 
 
 
(43.8
)
Net foreign exchange gains
 
 
 
 
 
18.5

Other revenue(5)
 
 
 
 
 
(20.6
)
General and administrative expenses(6)
 
 
 
 
 
(16.4
)
Intangible asset amortization expenses
 
 
 
 
 
(3.9
)
Interest expense on debt
 
 
 
 
 
(7.8
)
Pre-tax (loss) income
 
 
 
 
 
$
(136.1
)
Underwriting Ratios
 
 
 
 
 
 
Loss ratio
111.6
%
69.6
%
60.9
%
NM

NM

98.3
%
Acquisition expense ratio
21.7
%
26.1
%
23.4
%
NM

NM

17.2
%
Other underwriting expense ratio
9.1
%
4.7
%
40.6
%
NM

NM

8.7
%
Combined ratio(7)
142.4
%
100.4
%
124.9
%
NM

NM

124.2
%
Goodwill and intangible assets(8)
$
—

$
568.6

$
—

$
8.1

$
—

$
576.7

(1)Loss and allocated loss adjustment expenses ("LAE") are part of Loss and loss adjustment expenses on the Consolidated Statements of Income (the sum of Loss and allocated LAE and Unallocated LAE is equal to Loss and loss adjustment expenses on the Consolidated Statements of Income).
(2)Unallocated LAE are part of Loss and loss adjustment expenses on the Consolidated Statements of Income (the sum of Loss and allocated LAE and Unallocated LAE is equal to Loss and loss adjustment expenses on the Consolidated Statements of Income).
(3)Service fee revenue is part of Other revenue on the Consolidated Statements of Income (the sum of Service fee revenue and Other revenue is equal to Other revenue on the Consolidated Statements of Income).
(4)General and administrative expenses, MGU + Runoff & Other is part of General and administrative expenses on the Consolidated Statements of Income (the sum of General and administrative expenses, MGU + Runoff & Other and General and administrative expenses is equal to General and administrative expenses on the Consolidated Statements of Income).
(5)Other revenue is presented net of Service fee revenue and is comprised mainly of losses from derivatives (see Note 12) (the sum of Service fee revenue and Other revenue is equal to Other revenue on the Consolidated Statements of Income).
(6)General and administrative expenses are presented net of General and administrative expenses, MGU + Runoff & Other (the sum of General and administrative expenses, MGU + Runoff & Other and General and administrative expenses is equal to General and administrative expenses on the Consolidated Statements of Income).
(7)Ratios considered not meaningful ("NM") to Runoff & Other and Corporate Elimination.
(8)Sirius Group does not allocate its assets by segment, with the exception of goodwill and intangible assets.
 
For the three months ended March 31, 2019
(Expressed in millions of U.S. dollars)
Global
Reinsurance

Global
A&H

U.S. Specialty

Runoff &
Other

Corporate
Elimination

Total

Gross written premiums
$
435.0

$
169.3

$
16.6

$
1.4

$
—

$
622.3

Net written premiums
$
335.9

$
134.9

$
13.6

$
0.4

$
—

$
484.8

Net earned insurance and reinsurance premiums
$
211.3

$
96.1

$
4.1

$
0.4

$
—

$
311.9

Loss and allocated LAE(1)
(107.8
)
(63.2
)
(2.4
)
(1.1
)
—

(174.5
)
Insurance and reinsurance acquisition expenses
(45.6
)
(26.6
)
(0.7
)
(0.7
)
10.3

(63.3
)
Technical profit
57.9

6.3

1.0

(1.4
)
10.3

74.1

Unallocated LAE(2)
(4.0
)
(1.5
)
—

(0.5
)
(3.4
)
(9.4
)
Other underwriting expenses
(21.6
)
(6.1
)
(2.8
)
(2.1
)
(2.7
)
(35.3
)
Underwriting income
32.3

(1.3
)
(1.8
)
(4.0
)
4.2

29.4

Service fee revenue(3)
—

36.3

—

—

(11.0
)
25.3

Managing general underwriter unallocated LAE
—

(4.1
)
—

—

4.1

—

Managing general underwriter other underwriting expenses
—

(2.7
)
—

—

2.7

—

General and administrative expenses, MGU + Runoff & Other(4)
—

(16.2
)
—

(0.8
)
—

(17.0
)
Underwriting (loss) income, including net service fee income
32.3

12.0

(1.8
)
(4.8
)
—

37.7

Net investment income
 
 
 
 
 
20.1

Net realized investment gains
 
 
 
 
 
9.0

Net unrealized investment (losses) gains
 
 
 
 
 
74.0

Net foreign exchange gains
 
 
 
 
 
5.1

Other revenue(5)
 
 
 
 
 
(5.7
)
General and administrative expenses(6)
 
 
 
 
 
(7.4
)
Intangible asset amortization expenses
 
 
 
 
 
(3.9
)
Interest expense on debt
 
 
 
 
 
(7.6
)
Pre-tax (loss) income
 
 
 
 
 
$
121.3

Underwriting Ratios
 
 
 
 
 
 
Loss ratio
52.9
%
67.3
%
58.5
%
NM

NM

59.0
%
Acquisition expense ratio
21.6
%
27.7
%
17.1
%
NM

NM

20.3
%
Other underwriting expense ratio
10.2
%
6.3
%
68.3
%
NM

NM

11.3
%
Combined ratio(7)
84.7
%
101.3
%
143.9
%
NM

NM

90.6
%
Goodwill and intangible assets(8)
$
—

$
584.2

$
—

$
8.1

$
—

$
592.3

(1)Loss and allocated LAE are part of Loss and loss adjustment expenses on the Consolidated Statements of Income (the sum of Loss and allocated LAE and Unallocated LAE is equal to Loss and loss adjustment expenses on the Consolidated Statements of Income).
(2)Unallocated LAE are part of Loss and loss adjustment expenses on the Consolidated Statements of Income (the sum of Loss and allocated LAE and Unallocated LAE is equal to Loss and loss adjustment expenses on the Consolidated Statements of Income).
(3)Service fee revenue is part of Other revenue on the Consolidated Statements of Income (the sum of Service fee revenue and Other revenue is equal to Other revenue on the Consolidated Statements of Income).
(4)General and administrative expenses, MGU + Runoff & Other is part of General and administrative expenses on the Consolidated Statements of Income (the sum of General and administrative expenses, MGU + Runoff & Other and General and administrative expenses is equal to General and administrative expenses on the Consolidated Statements of Income).
(5)Other revenue is presented net of Service fee revenue and is comprised mainly of losses from derivatives (see Note 12) (the sum of Service fee revenue and Other revenue is equal to Other revenue on the Consolidated Statements of Income).
(6)General and administrative expenses are presented net of General and administrative expenses, MGU + Runoff & Other (the sum of General and administrative expenses, MGU + Runoff & Other and General and administrative expenses is equal to General and administrative expenses on the Consolidated Statements of Income).
(7)Ratios considered not meaningful ("NM") to Runoff & Other and Corporate Elimination.
(8)Sirius Group does not allocate its assets by segment, with the exception of goodwill and intangible assets.
Summary information regarding net premiums written by client location and underwriting location by reportable segment
The following tables provide summary information regarding net premiums written by client location and underwriting location by reportable segment for the three months ended March 31, 2020 and 2019:
 
For the three months ended March 31, 2020
(Expressed in millions of U.S. dollars)
Global
Reinsurance

Global
A&H

U.S. Specialty

Runoff &
Other

Total

Net written premiums by client location:
 
 
 
 
 
United States
$
104.3

$
180.7

$
15.2

$
68.1

$
368.3

Europe
172.8

7.2

—

0.3

180.3

Canada, the Caribbean, Bermuda and Latin America
29.4

6.5

—

—

35.9

Asia and Other
38.9

6.3

—

0.2

45.4

Total net written premium by client location for the three months ended March 31, 2020
$
345.4

$
200.7

$
15.2

$
68.6

$
629.9

Net written premiums by underwriting location:
 
 
 
 
 
United States
$
72.6

$
131.2

$
15.2

$
68.0

$
287.0

Europe
208.2

69.5

—

0.4

278.1

Canada, the Caribbean, Bermuda and Latin America
48.1

—

—

—

48.1

Asia and Other
16.5

—

—

0.2

16.7

Total written premiums by underwriting location for the three months ended March 31, 2020
$
345.4

$
200.7

$
15.2

$
68.6

$
629.9

 
For the three months ended March 31, 2019
(Expressed in millions of U.S. dollars)
Global
Reinsurance

Global
A&H

U.S. Specialty

Runoff &
Other

Total

Net written premiums by client location:
 
 
 
 
 
United States
$
116.6

$
111.1

$
13.6

$
0.2

$
241.5

Europe
149.5

8.0

—

0.1

157.6

Canada, the Caribbean, Bermuda and Latin America
29.0

5.0

—

—

34.0

Asia and Other
40.8

10.8

—

0.1

51.7

Total net written premium by client location for the three months ended March 31, 2019
$
335.9

$
134.9

$
13.6

$
0.4

$
484.8

Net written premiums by underwriting location:
 
 
 
 
 
United States
$
75.7

$
71.0

$
13.6

$
0.2

$
160.5

Europe
207.0

63.6

—

0.1

270.7

Canada, the Caribbean, Bermuda and Latin America
35.9

—

—

—

35.9

Asia and Other
17.3

0.3

—

0.1

17.7

Total written premiums by underwriting location for the three months ended March 31, 2019
$
335.9

$
134.9

$
13.6

$
0.4

$
484.8