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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Millions
Dec. 31, 2022
Dec. 31, 2021
Investments:    
Fixed maturities available-for-sale, at fair value (amortized cost: $134.2 and $129.5 at December 31, 2022 and December 31, 2021, respectively) $ 128.4 $ 129.9
Short-term investments (amortized cost: $0.4 and zero at December 31, 2022 and December 31, 2021, respectively) 0.4 0.0
Other investments 4.4 4.7
Total investments 133.2 134.6
Cash and cash equivalents 762.1 706.0
Restricted cash 1.0 1.0
Premiums receivable, net of allowance of $2.8 and $5.4 at December 31, 2022 and December 31, 2021, respectively 111.9 148.1
Reinsurance recoverable and receivable, net of allowance of $0.2 at December 31, 2022 and December 31, 2021 148.8 155.0
Prepaid reinsurance premiums 74.2 100.8
Other assets 81.7 73.8
Total assets 1,312.9 1,319.3
Liabilities:    
Loss and loss adjustment expense reserves 287.4 320.2
Unearned premiums 136.5 180.1
Long-term debt and warrants 295.4 0.0
Reinsurance premiums payable 119.8 101.6
Accounts payable and accrued expenses 39.7 29.1
Other liabilities 45.0 39.9
Total liabilities 923.8 670.9
Commitments and Contingencies (Note 13)
Redeemable convertible preferred stock, $0.0001 par value, 14.1 shares issued and outstanding at December 31, 2022 and December 31, 2021 (liquidation preference of $126.5) 112.0 112.0
Stockholders’ equity:    
Additional paid-in capital 1,850.7 1,806.1
Accumulated other comprehensive (loss) income (5.8) 0.4
Accumulated loss (1,567.8) (1,270.1)
Total stockholders’ equity 277.1 536.4
Total liabilities, redeemable convertible preferred stock and stockholders’ equity 1,312.9 1,319.3
Class A Shares    
Stockholders’ equity:    
Common stock [1] 0.0 0.0
Class B Shares    
Stockholders’ equity:    
Common stock [1] $ 0.0 $ 0.0
[1] Reflects the 1-for-18 reverse stock split that became effective August 12, 2022. Refer to Note 2, “Basis of Presentation and Summary of Significant Accounting Policies.”