Municipal Bond Guarantee (Tables)

9 Months Ended

Sep. 30, 2019

Schedule of Municipal Bond Guarantee Insured Obligations

The following table presents a schedule of BAM’s insured obligations as of September 30, 2019 and December 31, 2018:



	September 30, 2019		December 31, 2018
Contracts outstanding	8,508		7,525
Remaining weighted average contract period outstanding (in years)	10.7		10.7
Contractual debt service outstanding (in millions):
Principal	$	59,190.9	$	52,201.6
Interest	30,701.7		26,560.3
Total debt service outstanding	$	89,892.6	$	78,761.9

Gross unearned insurance premiums (in millions)	$	203.5	$	176.0

Financial Guarantee Insurance Contracts, Premium Received over Contract Period

The following table presents a schedule of BAM’s future premium revenues as of September 30, 2019:



Millions	September 30, 2019
October 1, 2019 - December 31, 2019	$	4.9

January 1, 2020 - March 31, 2020	4.8
April 1, 2020 - June 30, 2020	4.8
July 1, 2020 - September 30, 2020	4.6
October 1, 2020 - December 31, 2020	4.5
Total 2020	18.7

2021	17.4
2022	16.3
2023	15.3
2024	14.3
2025 and thereafter	116.6
Total gross unearned insurance premiums	$	203.5

Schedule of Net Written Premiums

The following table presents a schedule of net written premiums included in White Mountains’s HG Global/BAM segment for the three and nine months ended September 30, 2019 and 2018:



	Three Months Ended September 30,				Nine Months Ended September 30,
Millions	2019		2018		2019		2018
Written premiums:
Direct	$	10.2	$	3.9	$	30.6	$	28.9
Assumed	10.6		—		10.6		—
Gross written premiums	$	20.8	$	3.9	$	41.2	$	28.9
Earned premiums:
Direct	$	4.4	$	3.3	$	11.9	$	9.7
Assumed	.8		—		1.8		—
Gross earned premiums	$	5.2	$	3.3	$	13.7	$	9.7