Reserves for unpaid losses and loss adjustment expenses (Tables)

9 Months Ended

Sep. 30, 2020

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


	Three months ended September 30,				Nine months ended September 30,
(Millions)	2020		2019		2020		2019
Gross beginning balance	$	2,515.1	$	2,023.3	$	2,331.5	$	2,016.7
Less beginning reinsurance recoverable on unpaid losses	(442.2)		(357.4)		(410.3)		(350.2)
Net loss and LAE reserve balance	2,072.9		1,665.9		1,921.2		1,666.5
Losses and LAE incurred relating to:
Current year losses	305.5		342.2		967.5		723.6
Prior years losses	(0.1)		6.4		5.3		86.9
Total net incurred losses and LAE	305.4		348.6		972.8		810.5
Foreign currency translation adjustment to net loss and LAE reserves	20.8		(15.3)		12.2		(15.3)

Accretion of fair value adjustment to net loss and LAE reserves	0.1		—		0.1		0.1
Loss and LAE paid relating to:
Current year losses	81.6		97.7		149.2		254.8
Prior years losses	127.2		108.0		566.7		413.5
Total loss and LAE payments	208.8		205.7		715.9		668.3
Net ending balance	2,190.4		1,793.5		2,190.4		1,793.5
Plus ending reinsurance recoverable on unpaid losses	482.5		392.9		482.5		392.9
Gross ending balance	$	2,672.9	$	2,186.4	$	2,672.9	$	2,186.4