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Segment information (Tables)
 6 Months Ended
Jun. 30, 2020
Segment Reporting [Abstract]  
Summary of segment results
The following tables summarize the segment results for the three months ended June 30, 2020 and 2019:
 
For the three months ended June 30, 2020
(Expressed in millions of U.S. dollars)
Global
Reinsurance

Global
A&H

U.S. Specialty

Runoff &
Other

Corporate
Eliminations

Total

Gross written premiums
$
213.5

$
83.7

$
25.5

$
(0.1
)
$
—

$
322.6

Net written premiums
$
220.5

$
62.0

$
23.8

$
(0.3
)
$
—

$
306.0

Net earned insurance and reinsurance premiums
$
240.9

$
113.2

$
15.2

$
0.5

$
—

$
369.8

Loss and allocated LAE(1)
(148.5
)
(69.6
)
(10.4
)
0.5

—

(228.0
)
Insurance and reinsurance acquisition expenses
(53.7
)
(31.5
)
(3.4
)
0.3

10.2

(78.1
)
Technical profit (loss)
38.7

12.1

1.4

1.3

10.2

63.7

Unallocated LAE(2)
(5.2
)
(0.6
)
(0.1
)
(1.7
)
(4.7
)
(12.3
)
Other underwriting expenses
(20.5
)
(6.7
)
(2.9
)
(1.5
)
(4.7
)
(36.3
)
Underwriting income (loss)
13.0

4.8

(1.6
)
(1.9
)
0.8

15.1

Service fee revenue(3)
—

23.1

—

—

(11.7
)
11.4

Managing general underwriter unallocated LAE
—

(6.2
)
—

—

6.2

—

Managing general underwriter other underwriting expenses
—

(4.7
)
—

—

4.7

—

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

(11.0
)
—

(1.4
)
—

(12.4
)
Underwriting income (loss), including net service fee income
13.0

6.0

(1.6
)
(3.3
)
—

14.1

Net investment income
 
 
 
 
 
14.8

Net realized investment gains
 
 
 
 
 
7.1

Net unrealized investment gains
 
 
 
 
 
8.7

Net foreign exchange (losses)
 
 
 
 
 
(16.1
)
Other revenue(5)
 
 
 
 
 
(1.2
)
General and administrative expenses(6)
 
 
 
 
 
(11.5
)
Intangible asset amortization expenses
 
 
 
 
 
(4.0
)
Interest expense on debt
 
 
 
 
 
(7.9
)
Pre-tax income
 
 
 
 
 
$
4.0

Underwriting Ratios(7)
 
 
 
 
 
 
Loss ratio
63.8
%
62.0
%
69.1
%
NM

NM

65.0
%
Acquisition expense ratio
22.3
%
27.8
%
22.4
%
NM

NM

21.1
%
Other underwriting expense ratio
8.5
%
5.9
%
19.1
%
NM

NM

9.8
%
Combined ratio(7)
94.6
%
95.7
%
110.6
%
NM

NM

95.9
%
Goodwill and intangible assets(8)
$
—

$
564.6

$
—

$
8.1

$
—

$
572.7

(1)Loss and allocated loss adjustment expenses ("LAE") are part of Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income (the sum of Loss and allocated LAE and Unallocated LAE is equal to Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income).
(2)Unallocated LAE are part of Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income (the sum of Loss and allocated LAE and Unallocated LAE is equal to Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income).
(3)Service fee revenue is part of Other revenue on the Consolidated Statements of (Loss) Income (the sum of Service fee revenue and Other revenue is equal to Other revenue on the Consolidated Statements of (Loss) Income).
(4)General and administrative expenses, MGU + Runoff & Other is part of General and administrative expenses on the Consolidated Statements of (Loss) 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 (Loss) 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 (Loss) 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 (Loss) Income).
(7)Ratios considered not meaningful ("NM") to Runoff & Other and Corporate Eliminations.
(8)Sirius Group does not allocate its assets by segment, with the exception of goodwill and intangible assets.
 
For the three months ended June 30, 2019
(Expressed in millions of U.S. dollars)
Global
Reinsurance

Global
A&H

U.S. Specialty

Runoff &
Other

Corporate
Eliminations

Total

Gross written premiums
$
317.1

$
152.8

$
16.0

$
1.2

$
—

$
487.1

Net written premiums
$
266.7

$
120.6

$
14.1

$
0.3

$
—

$
401.7

Net earned insurance and reinsurance premiums
$
244.9

$
118.8

$
6.7

$
0.3

$
—

$
370.7

Loss and allocated LAE(1)
(188.5
)
(71.8
)
(4.1
)
(2.4
)
—

(266.8
)
Insurance and reinsurance acquisition expenses
(50.0
)
(36.0
)
(1.8
)
(1.8
)
12.6

(77.0
)
Technical profit (loss)
6.4

11.0

0.8

(3.9
)
12.6

26.9

Unallocated LAE(2)
(4.7
)
(2.0
)
(0.1
)
(0.2
)
(4.2
)
(11.2
)
Other underwriting expenses
(21.6
)
(5.9
)
(2.1
)
(1.1
)
(4.8
)
(35.5
)
Underwriting income (loss)
(19.9
)
3.1

(1.4
)
(5.2
)
3.6

(19.8
)
Service fee revenue(3)
—

30.3

—

—

(13.7
)
16.6

Managing general underwriter unallocated LAE
—

(5.3
)
—

—

5.3

—

Managing general underwriter other underwriting expenses
—

(4.8
)
—

—

4.8

—

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

(15.0
)
—

(1.0
)
—

(16.0
)
Underwriting income (loss), including net service fee income
(19.9
)
8.3

(1.4
)
(6.2
)
—

(19.2
)
Net investment income
 
 
 
 
 
24.4

Net realized investment gains
 
 
 
 
 
15.6

Net unrealized investment gains
 
 
 
 
 
15.5

Net foreign exchange (losses)
 
 
 
 
 
(0.6
)
Other revenue(5)
 
 
 
 
 
(1.2
)
General and administrative expenses(6)
 
 
 
 
 
(12.2
)
Intangible asset amortization expenses
 
 
 
 
 
(4.0
)
Interest expense on debt
 
 
 
 
 
(8.0
)
Pre-tax income
 
 
 
 
 
$
10.3

Underwriting Ratios(7)
 
 
 
 
 
 
Loss ratio
78.9
%
62.1
%
62.7
%
NM

NM

75.0
%
Acquisition expense ratio
20.4
%
30.3
%
26.9
%
NM

NM

20.8
%
Other underwriting expense ratio
8.8
%
5.0
%
31.3
%
NM

NM

9.6
%
Combined ratio(7)
108.1
%
97.4
%
120.9
%
NM

NM

105.4
%
Goodwill and intangible assets(8)
$
—

$
580.2

$
—

$
8.1

$
—

$
588.3

(1)Loss and allocated loss adjustment expenses ("LAE") are part of Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income (the sum of Loss and allocated LAE and Unallocated LAE is equal to Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income).
(2)Unallocated LAE are part of Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income (the sum of Loss and allocated LAE and Unallocated LAE is equal to Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income).
(3)Service fee revenue is part of Other revenue on the Consolidated Statements of (Loss) Income (the sum of Service fee revenue and Other revenue is equal to Other revenue on the Consolidated Statements of (Loss) Income).
(4)General and administrative expenses, MGU + Runoff & Other is part of General and administrative expenses on the Consolidated Statements of (Loss) 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 (Loss) Income).
(5)Other revenue is presented net of Service fee revenue and is comprised mainly of a change in contingent consideration (see Note 9) and gains (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 (Loss) 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 (Loss) Income).
(7)Ratios considered not meaningful ("NM") to Runoff & Other and Corporate Eliminations.
(8)Sirius Group does not allocate its assets by segment, with the exception of goodwill and intangible assets.

The following tables summarize the segment results for the six months ended June 30, 2020 and 2019:
 
For the six months ended June 30, 2020
(Expressed in millions of U.S. dollars)
Global
Reinsurance

Global
A&H

U.S. Specialty

Runoff &
Other

Corporate
Eliminations

Total

Gross written premiums
$
678.8

$
345.8

$
46.3

$
69.3

$
—

$
1,140.2

Net written premiums
$
565.9

$
262.7

$
39.0

$
68.3

$
—

$
935.9

Net earned insurance and reinsurance premiums
$
475.9

$
231.1

$
28.0

$
69.5

$
—

$
804.5

Loss and allocated LAE(1)
(405.7
)
(149.9
)
(18.1
)
(68.4
)
—

(642.1
)
Insurance and reinsurance acquisition expenses
(104.6
)
(62.3
)
(6.4
)
(0.1
)
20.6

(152.8
)
Technical profit (loss)
(34.4
)
18.9

3.5

1.0

20.6

9.6

Unallocated LAE(2)
(10.2
)
(2.3
)
(0.2
)
(2.5
)
(10.1
)
(25.3
)
Other underwriting expenses
(41.8
)
(12.3
)
(8.1
)
(2.4
)
(9.7
)
(74.3
)
Underwriting (loss) income
(86.4
)
4.3

(4.8
)
(3.9
)
0.8

(90.0
)
Service fee revenue(3)
—

59.0

—

—

(22.7
)
36.3

Managing general underwriter unallocated LAE
—

(12.2
)
—

—

12.2

—

Managing general underwriter other underwriting expenses
—

(9.7
)
—

—

9.7

—

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

(25.2
)
—

(2.9
)
—

(28.1
)
Underwriting (loss) income, including net service fee income
(86.4
)
16.2

(4.8
)
(6.8
)
—

(81.8
)
Net investment income
 
 
 
 
 
28.3

Net realized investment gains
 
 
 
 
 
27.4

Net unrealized investment (losses)
 
 
 
 
 
(35.1
)
Net foreign exchange gains
 
 
 
 
 
2.4

Other revenue(5)
 
 
 
 
 
(21.8
)
General and administrative expenses(6)
 
 
 
 
 
(27.9
)
Intangible asset amortization expenses
 
 
 
 
 
(7.9
)
Interest expense on debt
 
 
 
 
 
(15.7
)
Pre-tax (loss) income
 
 
 
 
 
$
(132.1
)
Underwriting Ratios(7)
 
 
 
 
 
 
Loss ratio
87.4
%
65.9
%
65.4
%
NM

NM

83.0
%
Acquisition expense ratio
22.0
%
27.0
%
22.9
%
NM

NM

19.0
%
Other underwriting expense ratio
8.8
%
5.3
%
28.9
%
NM

NM

9.2
%
Combined ratio(7)
118.2
%
98.2
%
117.2
%
NM

NM

111.2
%
Goodwill and intangible assets(8)
$
—

$
564.6

$
—

$
8.1

$
—

$
572.7

(1)Loss and allocated loss adjustment expenses ("LAE") are part of Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income (the sum of Loss and allocated LAE and Unallocated LAE is equal to Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income).
(2)Unallocated LAE are part of Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income (the sum of Loss and allocated LAE and Unallocated LAE is equal to Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income).
(3)Service fee revenue is part of Other revenue on the Consolidated Statements of (Loss) Income (the sum of Service fee revenue and Other revenue is equal to Other revenue on the Consolidated Statements of (Loss) Income).
(4)General and administrative expenses, MGU + Runoff & Other is part of General and administrative expenses on the Consolidated Statements of (Loss) 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 (Loss) 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 (Loss) 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 (Loss) Income).
(7)Ratios considered not meaningful ("NM") to Runoff & Other and Corporate Eliminations.
(8)Sirius Group does not allocate its assets by segment, with the exception of goodwill and intangible assets.
 
For the six months ended June 30, 2019
(Expressed in millions of U.S. dollars)
Global
Reinsurance

Global
A&H

U.S. Specialty

Runoff &
Other

Corporate
Eliminations

Total

Gross written premiums
$
752.1

$
322.1

$
32.6

$
2.6

$
—

$
1,109.4

Net written premiums
$
602.6

$
255.5

$
27.7

$
0.7

$
—

$
886.5

Net earned insurance and reinsurance premiums
$
456.2

$
214.9

$
10.8

$
0.7

$
—

$
682.6

Loss and allocated LAE(1)
(296.3
)
(135.0
)
(6.5
)
(3.5
)
—

(441.3
)
Insurance and reinsurance acquisition expenses
(95.6
)
(62.6
)
(2.5
)
(2.5
)
22.9

(140.3
)
Technical profit (loss)
64.3

17.3

1.8

(5.3
)
22.9

101.0

Unallocated LAE(2)
(8.7
)
(3.5
)
(0.1
)
(0.7
)
(7.6
)
(20.6
)
Other underwriting expenses
(43.2
)
(12.0
)
(4.9
)
(3.2
)
(7.5
)
(70.8
)
Underwriting (loss) income
12.4

1.8

(3.2
)
(9.2
)
7.8

9.6

Service fee revenue(3)
—

66.6

—

—

(24.7
)
41.9

Managing general underwriter unallocated LAE
—

(9.4
)
—

—

9.4

—

Managing general underwriter other underwriting expenses
—

(7.5
)
—

—

7.5

—

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

(31.2
)
—

(1.8
)
—

(33.0
)
Underwriting (loss) income, including net service fee income
12.4

20.3

(3.2
)
(11.0
)
—

18.5

Net investment income
 
 
 
 
 
44.5

Net realized investment gains
 
 
 
 
 
24.6

Net unrealized investment (losses)
 
 
 
 
 
89.5

Net foreign exchange gains
 
 
 
 
 
4.5

Other revenue(5)
 
 
 
 
 
(6.9
)
General and administrative expenses(6)
 
 
 
 
 
(19.6
)
Intangible asset amortization expenses
 
 
 
 
 
(7.9
)
Interest expense on debt
 
 
 
 
 
(15.6
)
Pre-tax (loss) income
 
 
 
 
 
$
131.6

Underwriting Ratios(7)
 
 
 
 
 
 
Loss ratio
66.9
%
64.4
%
61.1
%
NM

NM

67.7
%
Acquisition expense ratio
21.0
%
29.1
%
23.1
%
NM

NM

20.6
%
Other underwriting expense ratio
9.5
%
5.6
%
45.4
%
NM

NM

10.4
%
Combined ratio(7)
97.4
%
99.1
%
129.6
%
NM

NM

98.7
%
Goodwill and intangible assets(8)
$
—

$
580.2

$
—

$
8.1

$
—

$
588.3

(1)Loss and allocated loss adjustment expenses ("LAE") are part of Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income (the sum of Loss and allocated LAE and Unallocated LAE is equal to Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income).
(2)Unallocated LAE are part of Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income (the sum of Loss and allocated LAE and Unallocated LAE is equal to Loss and loss adjustment expenses on the Consolidated Statements of (Loss) Income).
(3)Service fee revenue is part of Other revenue on the Consolidated Statements of (Loss) Income (the sum of Service fee revenue and Other revenue is equal to Other revenue on the Consolidated Statements of (Loss) Income).
(4)General and administrative expenses, MGU + Runoff & Other is part of General and administrative expenses on the Consolidated Statements of (Loss) 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 (Loss) Income).
(5)Other revenue is presented net of Service fee revenue and is comprised mainly of a change in contingent consideration (see Note 9) and gains (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 (Loss) 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 (Loss) Income).
(7)Ratios considered not meaningful ("NM") to Runoff & Other and Corporate Eliminations.
(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 June 30, 2020 and 2019:
 
For the three months ended June 30, 2020
(Expressed in millions of U.S. dollars)
Global
Reinsurance

Global
A&H

U.S. Specialty

Runoff &
Other

Total

Total net written premiums by client location:
 
 
 
 
 
United States
$
106.9

$
50.7

$
23.8

$
(0.5
)
$
180.9

Europe
42.7

5.2

—

0.1

48.0

Canada, the Caribbean, Bermuda and Latin America
18.9

1.3

—

—

20.2

Asia and Other
52.0

4.8

—

0.1

56.9

Total net written premiums by client location for the three months ended June 30, 2020
$
220.5

$
62.0

$
23.8

$
(0.3
)
$
306.0

Total net written premiums by underwriting location:
 
 
 
 
 
United States
$
83.2

$
25.4

$
23.8

$
(0.4
)
$
132.0

Europe
83.2

36.5

—

—

119.7

Canada, the Caribbean, Bermuda and Latin America
36.6

—

—

—

36.6

Asia and Other
17.5

0.1

—

0.1

17.7

Total net written premiums by underwriting location for the three months ended June 30, 2020
$
220.5

$
62.0

$
23.8

$
(0.3
)
$
306.0

 
For the three months ended June 30, 2019
(Expressed in millions of U.S. dollars)
Global
Reinsurance

Global
A&H

U.S. Specialty

Runoff &
Other

Total

Total net written premiums by client location:
 
 
 
 
 
United States
$
152.7

$
102.5

$
14.1

$
0.2

$
269.5

Europe
28.5

5.1

—

—

33.6

Canada, the Caribbean, Bermuda and Latin America
16.7

2.0

—

—

18.7

Asia and Other
68.8

11.0

—

0.1

79.9

Total net written premiums by client location for the three months ended June 30, 2019
$
266.7

$
120.6

$
14.1

$
0.3

$
401.7

Total net written premiums by underwriting location:
 
 
 
 
 
United States
$
104.9

$
62.1

$
14.1

$
0.2

$
181.3

Europe
102.6

58.4

—

—

161.0

Canada, the Caribbean, Bermuda and Latin America
40.7

—

—

—

40.7

Asia and Other
18.5

0.1

—

0.1

18.7

Total net written premiums by underwriting location for the three months ended June 30, 2019
$
266.7

$
120.6

$
14.1

$
0.3

$
401.7

The following tables provide summary information regarding net premiums written by client location and underwriting location by reportable segment for the six months ended June 30, 2020 and 2019:
 
For the six months ended June 30, 2020
(Expressed in millions of U.S. dollars)
Global
Reinsurance

Global
A&H

U.S. Specialty

Runoff &
Other

Total

Total net written premiums by client location:
 
 
 
 
 
United States
$
211.2

$
231.4

$
39.0

$
67.6

$
549.2

Europe
215.5

12.4

—

0.4

228.3

Canada, the Caribbean, Bermuda and Latin America
48.3

7.8

—

—

56.1

Asia and Other
90.9

11.1

—

0.3

102.3

Total net written premiums by client location for the six months ended June 30, 2020
$
565.9

$
262.7

$
39.0

$
68.3

$
935.9

Total net written premiums by underwriting location:










United States
$
155.8

$
156.6

$
39.0

$
67.6

$
419.0

Europe
291.4

106.0

—

0.4

397.8

Canada, the Caribbean, Bermuda and Latin America
84.7

—

—

—

84.7

Asia and Other
34.0

0.1

—

0.3

34.4

Total net written premiums by underwriting location for the six months ended June 30, 2020
$
565.9

$
262.7

$
39.0

$
68.3

$
935.9

 
For the six months ended June 30, 2019
(Expressed in millions of U.S. dollars)
Global
Reinsurance

Global
A&H

U.S. Specialty

Runoff &
Other

Total

Total net written premiums by client location:
 
 
 
 
 
United States
$
269.3

$
213.6

$
27.7

$
0.4

$
511.0

Europe
178.0

13.1

—

0.1

191.2

Canada, the Caribbean, Bermuda and Latin America
45.7

7.0

—

—

52.7

Asia and Other
109.6

21.8

—

0.2

131.6

Total net written premiums by client location for the six months ended June 30, 2019
$
602.6

$
255.5

$
27.7

$
0.7

$
886.5

Total net written premiums by underwriting location:










United States
$
180.6

$
133.1

$
27.7

$
0.4

$
341.8

Europe
309.6

122.0

—

0.1

431.7

Canada, the Caribbean, Bermuda and Latin America
76.6

—

—

—

76.6

Asia and Other
35.8

0.4

—

0.2

36.4

Total net written premiums by underwriting location for the six months ended June 30, 2019
$
602.6

$
255.5

$
27.7

$
0.7

$
886.5