Municipal Bond Guarantee (Tables)

9 Months Ended

Sep. 30, 2020

Schedule of Municipal Bond Guarantee Insured Obligations

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



	September 30, 2020		December 31, 2019
Contracts outstanding	10,495		8,987
Remaining weighted average contract period outstanding (in years)	10.7		10.7
Contractual debt service outstanding (in millions):
Principal	$	70,954.1	$	62,250.5
Interest	34,842.8		31,799.7
Total debt service outstanding	$	105,796.9	$	94,050.2

Gross unearned insurance premiums (in millions)	$	226.9	$	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 September 30, 2020:



Millions	September 30, 2020
October 1, 2020 - December 31, 2020	$	5.3

January 1, 2021 - March 31, 2021	5.3
April 1, 2021 - June 30, 2021	5.2
July 1, 2021 - September 30, 2021	5.1
October 1, 2021 - December 31, 2021	5.1
Total 2021	20.7

2022	19.6
2023	18.4
2024	17.2
2025	15.9
2026 and thereafter	129.8
Total gross unearned insurance premiums	$	226.9

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 nine months ended September 30, 2020 and 2019:



	Three Months Ended September 30,				Nine Months Ended September 30,
Millions	2020		2019		2020		2019
Written premiums:
Direct	$	14.4	$	10.2	$	45.5	$	30.6
Assumed	—		10.6		.1		10.6
Gross written premiums	$	14.4	$	20.8	$	45.6	$	41.2
Earned premiums:
Direct	$	5.3	$	4.4	$	14.5	$	11.9
Assumed	.9		.8		2.7		1.8
Gross earned premiums	$	6.2	$	5.2	$	17.2	$	13.7