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Third party reinsurance (Tables)
 12 Months Ended
Dec. 31, 2019
Reinsurance Disclosures [Abstract]  
Schedule of effects of reinsurance
The effects of reinsurance on Sirius Group's written and earned premiums and on losses and LAE were as follows:
(Millions)
2019
2018
2017
Written premiums:
 

 

 

Direct
$
511.2

$
454.5

$
450.2

Assumed
1,391.5

1,366.5

989.1

Gross written premiums
1,902.7

1,821.0

1,439.3

Ceded
(400.1
)
(463.9
)
(349.1
)
Net written premiums
$
1,502.6

$
1,357.1

$
1,090.2

Earned premiums:
 
 
 
Direct
$
481.0

$
432.6

$
405.7

Assumed
1,357.7

1,236.2

942.2

Gross earned premiums
1,838.7

1,668.8

1,347.9

Ceded
(397.1
)
(406.5
)
(312.6
)
Net earned premiums
$
1,441.6

$
1,262.3

$
1,035.3

Losses and LAE:
 
 
 
Direct
$
316.3

$
260.5

$
294.9

Assumed
1,111.4

819.1

701.3

Gross losses and LAE
1,427.7

1,079.6

996.2

Ceded
(257.4
)
(179.6
)
(185.0
)
Net losses and LAE
$
1,170.3

$
900.0

$
811.2
Schedule of industry loss warranty contracts
The following ILW contracts are currently in force:
Scope
Limit

Trigger

Expiration Date
United States excluding North East, all natural perils

$5.0
 million

$40.0
 billion
July 5, 2020
Schedule of gross, net recoverable amounts and percentage of total recoverables
The following tables provide a listing of Sirius Group's gross and net recoverable amounts by the reinsurer's Standard & Poor's Financial Services LLC ("Standard & Poor's") rating and the percentage of total recoverables as of December 31, 2019 and 2018. With certain reinsurers if Standard & Poor's rating was not available, an A.M. Best rating was used.
 
December 31, 2019
Rating(1)
Gross

Collateral

Net

% of Net
Total

AAA
$
3.4

$
—

$
3.4

1
%
AA
117.2

14.3

102.9

42
%
A
301.8

195.6

106.2

43
%
BBB or lower
14.9

13.7

1.2

1
%
Not rated
46.9

13.4

33.5

13
%
Total
$
484.2

$
237.0

$
247.2

100
%
(1)Standard & Poor's ratings as detailed above are: "AAA" (Extremely Strong), "AA" (Very strong), "A" (Strong), and "BBB" (Adequate).
 
December 31, 2018
Rating(1)
Gross

Collateral

Net

% of Net
Total

AA
$
115.1

$
1.5

$
113.6

35
%
A
212.9

45.4

167.5

52
%
BBB or lower
19.5

13.3

6.2

2
%
Not rated
57.7

23.2

34.5

11
%
Total
$
405.2

$
83.4

$
321.8

100
%
(1)Standard & Poor's ratings as detailed above are: "AA" (Very strong), "A" (Strong), and "BBB" (Adequate).
Schedule of highest gross recoverable amounts and percentage of total recoverable amount by reinsurer
The following tables provide a listing of the five highest gross recoverable amounts by reinsurer, along with percentage of total recoverable amount, the reinsurer's Standard & Poor's reinsurer rating, and the percentage that the recoverable is collateralized as of December 31, 2019 and 2018:
 
December 31, 2019
(Millions)
Balance

% of Total

S&P rating
% Collateralized

Reinsurer:
​
 

​
 

General Insurance Corporation of India(1)
$
143.0

30
%
A-
98
%
Swiss Reinsurance Companyﾠ Ltd.
44.7

9
%
AA-
5
%
Berkshire Hathaway,ﾠInc.
34.0

7
%
AA+
3
%
Lloyd's of London
27.0

6
%
A+
30
%
Argo Capital Group Ltd.
19.1

4
%
A-
89
%
(1)Reflects an A.M. Best rating of "A-" (Excellent).
 
December 31, 2018
(Millions)
Balance

% of Total

S&P rating
% Collateralized

Reinsurer:
 
 
 
 
General Insurance Corporation of India(1)
$
82.7

20
%
A-
97
%
Swiss Reinsurance Company Ltd.
44.1

11
%
AA-
—
%
Berkshire Hathaway, Inc.
39.3

10
%
AA+
1
%
Argo Capital Group Ltd.
16.7

4
%
A-
87
%
Lloyd's of London
13.4

3
%
A+
5
%
(1)Reflects an A.M. Best rating of "A-" (Excellent).