Segment information (Tables)

9 Months Ended

Sep. 30, 2020

Segment Reporting [Abstract]

Summary of segment results

The following tables summarize the segment results for the three months ended September 30, 2020 and 2019:

	For the three months ended September 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	$	248.2		$	88.8		$	22.6		$	(3.6)	$	—	$	356.0
Net written premiums	$	192.2		$	72.2		$	20.5		$	(2.6)	$	—	$	282.3
Net earned insurance and reinsurance premiums	$	243.5		$	114.3		$	17.2		$	(2.4)	$	—	$	372.6
Loss and allocated LAE(1)	(194.5)			(84.6)			(11.1)			(1.1)		—		(291.3)
Insurance and reinsurance acquisition expenses	(51.8)			(36.6)			(4.0)			(0.8)		9.6		(83.6)
Technical (loss) profit	(2.8)			(6.9)			2.1			(4.3)		9.6		(2.3)
Unallocated LAE(2)	(7.7)			(0.5)			(0.2)			(1.0)		(4.7)		(14.1)
Other underwriting expenses	(25.3)			(5.7)			(4.3)			(1.3)		(4.7)		(41.3)
Underwriting (loss) income	(35.8)			(13.1)			(2.4)			(6.6)		0.2		(57.7)
Service fee revenue(3)	—			26.3			—			0.9		(10.7)		16.5
Managing general underwriter unallocated LAE	—			(5.8)			—			—		5.8		—
Managing general underwriter other underwriting expenses	—			(4.7)			—			—		4.7		—
General and administrative expenses, MGU + Runoff & Other(4)	—			(11.0)			—			(0.9)		—		(11.9)
Underwriting (loss) income, including net service fee income	(35.8)			(8.3)			(2.4)			(6.6)		—		(53.1)
Net investment income														1.7
Net realized investment gains														(3.8)
Net unrealized investment gains														31.2
Net foreign exchange (losses)														(21.3)
Other revenue(5)														(0.7)
General and administrative expenses(6)														(22.5)
Intangible asset amortization expenses														(3.9)
Interest expense on debt														(8.1)
Pre-tax (loss)														$	(80.5)
Underwriting Ratios(7)
Loss ratio	83.0		%	74.5		%	65.7		%	NM		NM		82.0		%
Acquisition expense ratio	21.3		%	32.0		%	23.3		%	NM		NM		22.4		%
Other underwriting expense ratio	10.4		%	5.0		%	25.0		%	NM		NM		11.1		%
Combined ratio(7)	114.7		%	111.5		%	114.0		%	NM		NM		115.5		%
Goodwill and intangible assets(8)	$	—		$	560.7		$	—		$	8.1	$	—	$	568.8

(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 September 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	$	256.3		$	137.4		$	17.9		$	2.1	$	—	$	413.7
Net written premiums	$	202.6		$	104.6		$	14.3		$	0.8	$	—	$	322.3
Net earned insurance and reinsurance premiums	$	249.5		$	115.1		$	9.1		$	0.5	$	—	$	374.2
Loss and allocated LAE(1)	(261.7)			(63.6)			(8.2)			(0.9)		—		(334.4)
Insurance and reinsurance acquisition expenses	(54.3)			(32.5)			(2.0)			(0.1)		13.8		(75.1)
Technical (loss) profit	(66.5)			19.0			(1.1)			(0.5)		13.8		(35.3)
Unallocated LAE(2)	(8.4)			(2.0)			(0.1)			(0.2)		(3.5)		(14.2)
Other underwriting expenses	(20.8)			(6.8)			(2.7)			(1.4)		(3.7)		(35.4)
Underwriting (loss) income	(95.7)			10.2			(3.9)			(2.1)		6.6		(84.9)
Service fee revenue(3)	—			31.0			—			—		(14.6)		16.4
Managing general underwriter unallocated LAE	—			(4.3)			—			—		4.3		—
Managing general underwriter other underwriting expenses	—			(3.7)			—			—		3.7		—
General and administrative expenses, MGU + Runoff & Other(4)	—			(15.1)			—			(1.2)		—		(16.3)
Underwriting (loss) income, including net service fee income	(95.7)			18.1			(3.9)			(3.3)		—		(84.8)
Net investment income														22.8
Net realized investment gains														15.3
Net unrealized investment gains														53.9
Net foreign exchange gains														4.9
Other revenue(5)														(0.1)
General and administrative expenses(6)														(11.7)
Intangible asset amortization expenses														(3.9)
Interest expense on debt														(7.7)
Pre-tax (loss)														$	(11.3)
Underwriting Ratios(7)
Loss ratio	108.3		%	57.0		%	91.2		%	NM		NM		93.2		%
Acquisition expense ratio	21.8		%	28.2		%	22.0		%	NM		NM		20.1		%
Other underwriting expense ratio	8.3		%	5.9		%	29.7		%	NM		NM		9.5		%
Combined ratio(7)	138.4		%	91.1		%	142.9		%	NM		NM		122.8		%
Goodwill and intangible assets(8)	$	—		$	576.1		$	—		$	8.1	$	—	$	584.2

(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 nine months ended September 30, 2020 and 2019:

	For the nine months ended September 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	$	927.0		$	434.6		$	68.9		$	65.7	$	—	$	1,496.2
Net written premiums	$	758.1		$	334.9		$	59.5		$	65.7	$	—	$	1,218.2
Net earned insurance and reinsurance premiums	$	719.4		$	345.4		$	45.2		$	67.1	$	—	$	1,177.1
Loss and allocated LAE(1)	(600.2)			(234.5)			(29.2)			(61.2)		—		(925.1)
Insurance and reinsurance acquisition expenses	(156.4)			(98.9)			(10.4)			(0.9)		30.2		(236.4)
Technical (loss) profit	(37.2)			12.0			5.6			5.0		30.2		15.6
Unallocated LAE(2)	(17.9)			(2.8)			(0.4)			(11.8)		(14.8)		(47.7)
Other underwriting expenses	(67.1)			(18.0)			(12.4)			(3.7)		(14.4)		(115.6)
Underwriting (loss) income	(122.2)			(8.8)			(7.2)			(10.5)		1.0		(147.7)
Service fee revenue(3)	—			85.3			—			0.9		(33.4)		52.8
Managing general underwriter unallocated LAE	—			(18.0)			—			—		18.0		—
Managing general underwriter other underwriting expenses	—			(14.4)			—			—		14.4		—
General and administrative expenses, MGU + Runoff & Other(4)	—			(36.2)			—			(3.8)		—		(40.0)
Underwriting (loss) income, including net service fee income	(122.2)			7.9			(7.2)			(13.4)		—		(134.9)
Net investment income														30.0
Net realized investment gains														23.6
Net unrealized investment (losses)														(3.9)
Net foreign exchange (losses)														(18.9)
Other revenue(5)														(22.5)
General and administrative expenses(6)														(50.4)
Intangible asset amortization expenses														(11.8)
Interest expense on debt														(23.8)
Pre-tax (loss)														$	(212.6)
Underwriting Ratios(7)
Loss ratio	85.9		%	68.7		%	65.5		%	NM		NM		82.6		%
Acquisition expense ratio	21.7		%	28.6		%	23.0		%	NM		NM		20.1		%
Other underwriting expense ratio	9.3		%	5.2		%	27.4		%	NM		NM		9.8		%
Combined ratio(7)	116.9		%	102.5		%	115.9		%	NM		NM		112.5		%
Goodwill and intangible assets(8)	$	—		$	560.7		$	—		$	8.1	$	—	$	568.8

(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 nine months ended September 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	$	1,008.4		$	459.5		$	50.5		$	4.7	$	—	$	1,523.1
Net written premiums	$	805.2		$	360.1		$	42.0		$	1.5	$	—	$	1,208.8
Net earned insurance and reinsurance premiums	$	705.7		$	330.0		$	19.9		$	1.2	$	—	$	1,056.8
Loss and allocated LAE(1)	(558.0)			(198.6)			(14.7)			(4.4)		—		(775.7)
Insurance and reinsurance acquisition expenses	(149.9)			(95.1)			(4.5)			(2.6)		36.7		(215.4)
Technical (loss) profit	(2.2)			36.3			0.7			(5.8)		36.7		65.7
Unallocated LAE(2)	(17.1)			(5.5)			(0.2)			(0.9)		(11.1)		(34.8)
Other underwriting expenses	(64.0)			(18.8)			(7.6)			(4.6)		(11.2)		(106.2)
Underwriting (loss) income	(83.3)			12.0			(7.1)			(11.3)		14.4		(75.3)
Service fee revenue(3)	—			97.6			—			—		(39.3)		58.3
Managing general underwriter unallocated LAE	—			(13.7)			—			—		13.7		—
Managing general underwriter other underwriting expenses	—			(11.2)			—			—		11.2		—
General and administrative expenses, MGU + Runoff & Other(4)	—			(46.3)			—			(3.0)		—		(49.3)
Underwriting (loss) income, including net service fee income	(83.3)			38.4			(7.1)			(14.3)		—		(66.3)
Net investment income														67.3
Net realized investment gains														39.9
Net unrealized investment gains														143.4
Net foreign exchange gains														9.4
Other revenue(5)														(7.0)
General and administrative expenses(6)														(31.3)
Intangible asset amortization expenses														(11.8)
Interest expense on debt														(23.3)
Pre-tax income														$	120.3
Underwriting Ratios(7)
Loss ratio	81.5		%	61.8		%	74.9		%	NM		NM		76.7		%
Acquisition expense ratio	21.2		%	28.8		%	22.6		%	NM		NM		20.4		%
Other underwriting expense ratio	9.1		%	5.7		%	38.2		%	NM		NM		10.0		%
Combined ratio(7)	111.8		%	96.3		%	135.7		%	NM		NM		107.1		%
Goodwill and intangible assets(8)	$	—		$	576.1		$	—		$	8.1	$	—	$	584.2

(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 total net written premiums by client location and underwriting location by reportable segment for the three months ended September 30, 2020 and 2019:

	For the three months ended September 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	$	86.7	$	57.3	$	20.5	$	0.8	$	165.3
Europe	49.3		7.0		—		—		56.3
Canada, the Caribbean, Bermuda and Latin America	25.9		2.3		—		(3.6)		24.6
Asia and Other	30.3		5.6		—		0.2		36.1
Total net written premiums by client location for the three months ended September 30, 2020	$	192.2	$	72.2	$	20.5	$	(2.6)	$	282.3
Total net written premiums by underwriting location:
United States	$	53.8	$	28.6	$	20.5	$	0.8	$	103.7
Europe	84.9		43.4		—		—		128.3
Canada, the Caribbean, Bermuda and Latin America	42.8		0.2		—		(3.6)		39.4
Asia and Other	10.7		—		—		0.2		10.9
Total net written premiums by underwriting location for the three months ended September 30, 2020	$	192.2	$	72.2	$	20.5	$	(2.6)	$	282.3

	For the three months ended September 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	$	112.8	$	87.6	$	14.3	$	0.7	$	215.4
Europe	29.7		5.8		—		(0.1)		35.4
Canada, the Caribbean, Bermuda and Latin America	24.5		3.7		—		0.1		28.3
Asia and Other	35.6		7.5		—		0.1		43.2
Total net written premiums by client location for the three months ended September 30, 2019	$	202.6	$	104.6	$	14.3	$	0.8	$	322.3
Total net written premiums by underwriting location:
United States	$	20.2	$	36.9	$	—	$	0.7	$	57.8
Europe	81.9		68.1		14.3		—		164.3
Canada, the Caribbean, Bermuda and Latin America	91.3		(0.6)		—		—		90.7
Asia and Other	9.2		0.2		—		0.1		9.5
Total net written premiums by underwriting location for the three months ended September 30, 2019	$	202.6	$	104.6	$	14.3	$	0.8	$	322.3

The following tables provide summary information regarding total net written premiums by client location and underwriting location by reportable segment for the nine months ended September 30, 2020 and 2019:

	For the nine months ended September 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	$	297.9	$	288.7	$	59.5	$	68.4	$	714.5
Europe	264.8		19.4		—		0.4		284.6
Canada, the Caribbean, Bermuda and Latin America	74.2		10.1		—		(3.6)		80.7
Asia and Other	121.2		16.7		—		0.5		138.4
Total net written premiums by client location for the nine months ended September 30, 2020	$	758.1	$	334.9	$	59.5	$	65.7	$	1,218.2
Total net written premiums by underwriting location:
United States	$	162.5	$	185.7	$	59.5	$	68.4	$	476.1
Europe	376.3		149.4		—		0.4		526.1
Canada, the Caribbean, Bermuda and Latin America	174.6		(0.3)		—		(3.6)		170.7
Asia and Other	44.7		0.1		—		0.5		45.3
Total net written premiums by underwriting location for the nine months ended September 30, 2020	$	758.1	$	334.9	$	59.5	$	65.7	$	1,218.2

	For the nine months ended September 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	$	382.1	$	301.2	$	42.0	$	1.0	$	726.3
Europe	207.7		18.9		—		0.1		226.7
Canada, the Caribbean, Bermuda and Latin America	70.2		10.7		—		0.1		81.0
Asia and Other	145.2		29.3		—		0.3		174.8
Total net written premiums by client location for the nine months ended September 30, 2019	$	805.2	$	360.1	$	42.0	$	1.5	$	1,208.8
Total net written premiums by underwriting location:
United States	$	57.8	$	136.0	$	—	$	1.0	$	194.8
Europe	368.0		190.1		42.0		0.2		600.3
Canada, the Caribbean, Bermuda and Latin America	334.4		33.4		—		—		367.8
Asia and Other	45.0		0.6		—		0.3		45.9
Total net written premiums by underwriting location for the nine months ended September 30, 2019	$	805.2	$	360.1	$	42.0	$	1.5	$	1,208.8