Reserves for unpaid losses and loss adjustment expenses (Tables)

6 Months Ended

Jun. 30, 2020

Insurance [Abstract]

Summary of the loss and LAE reserve activities

The following table summarizes the loss and LAE reserve activities of Sirius Group for the three and six months ended June 30, 2020 and 2019:

	Three months ended June 30,						Six months ended June 30,
(Millions)	2020			2019			2020			2019
Gross beginning balance	$	2,519.6		$	1,976.3		$	2,331.5		$	2,016.7
Less beginning reinsurance recoverable on unpaid losses	(444.2		)	(349.3		)	(410.3		)	(350.2		)
Net loss and LAE reserve balance	2,075.4			1,627.0			1,921.2			1,666.5
Losses and LAE incurred relating to:
Current year losses	239.1			214.1			662.0			381.4
Prior years losses	1.2			63.9			5.4			80.5
Total net incurred losses and LAE	240.3			278.0			667.4			461.9
Foreign currency translation adjustment to net loss and LAE reserves	13.2			3.4			(8.6		)	—
Accretion of fair value adjustment to net loss and LAE reserves	—			0.1			—			0.1
Loss and LAE paid relating to:
Current year losses	24.5			120.9			67.6			157.1
Prior years losses	231.5			121.7			439.5			305.5
Total loss and LAE payments	256.0			242.6			507.1			462.6
Net ending balance	2,072.9			1,665.9			2,072.9			1,665.9
Plus ending reinsurance recoverable on unpaid losses	442.2			357.4			442.2			357.4
Gross ending balance	$	2,515.1		$	2,023.3		$	2,515.1		$	2,023.3