Loss and Loss Adjustment Expense Reserves (Tables)

9 Months Ended

Sep. 30, 2021

Insurance Loss Reserves [Abstract]

Schedule of Liability for Unpaid Claims and Claims Adjustment Expense

The following table summarizes the loss and LAE reserve activity of Ark’s insurance and reinsurance subsidiaries for the three and nine months ended September 30, 2021:

Millions	Three Months Ended September 30, 2021		Nine Months Ended September 30, 2021
Gross beginning balance	$	760.0	$	696.0
Less: beginning reinsurance recoverable on unpaid losses	(425.3)		(433.4)
Net loss and LAE reserves	334.7		262.6
Loss and LAE incurred relating to:
Current year losses	141.9		269.0
Prior year losses	(12.7)		(21.2)
Total incurred losses and LAE	129.2		247.8
Foreign currency translation adjustment to loss and LAE reserves	(1.2)		(3.4)
Loss and LAE paid relating to:
Current year losses	(9.0)		(11.5)
Prior year losses	(20.3)		(62.1)
Total loss and LAE payments	(29.3)		(73.6)
Net ending balance	433.4		433.4
Plus: ending reinsurance recoverable on unpaid losses	457.5		457.5
Gross ending balance	$	890.9	$	890.9