Municipal Bond Guarantee (Tables)

6 Months Ended

Jun. 30, 2020

Schedule of Municipal Bond Guarantee Insured Obligations

The following table presents a schedule of BAM’s insured obligations as of June 30, 2020 and December 31, 2019:



	June 30, 2020		December 31, 2019
Contracts outstanding	9,992		8,987
Remaining weighted average contract period outstanding (in years)	10.6		10.7
Contractual debt service outstanding (in millions):
Principal	$	67,591.5	$	62,250.5
Interest	33,775.8		31,799.7
Total debt service outstanding	$	101,367.3	$	94,050.2

Gross unearned insurance premiums (in millions)	$	218.6	$	198.4

Financial Guarantee Insurance Contracts, Premium Received over Contract Period

The following table presents a schedule of BAM’s future premium revenues as of June 30, 2020:



Millions	June 30, 2020
July 1, 2020 - December 31, 2020	$	10.2

January 1, 2021 - March 31, 2021	5.0
April 1, 2021 - June 30, 2021	4.9
July 1, 2021 - September 30, 2021	4.9
October 1, 2021 - December 31, 2021	4.8
Total 2021	19.6

2022	18.5
2023	17.3
2024	16.2
2025	15.0
2026 and thereafter	121.8
Total gross unearned insurance premiums	$	218.6

Schedule of Net Written Premiums

The following table presents a schedule of net written premiums and net earned premiums included in White Mountains’s HG Global/BAM segment for the three and six months ended June 30, 2020 and 2019:



	Three Months Ended June 30,				Six Months Ended June 30,
Millions	2020		2019		2020		2019
Written premiums:
Direct	$	21.3	$	12.5	$	31.0	$	20.4
Assumed	0.2		—		0.2		—
Gross written premiums	$	21.5	$	12.5	$	31.2	$	20.4
Earned premiums:
Direct	$	4.7	$	3.8	$	9.2	$	7.5
Assumed	0.9		.5		1.8		1.0
Gross earned premiums	$	5.6	$	4.3	$	11.0	$	8.5