Municipal Bond Guarantee Insurance (Tables)

9 Months Ended

Sep. 30, 2021

Guarantees [Abstract]

Schedule of Municipal Bond Guarantee Insured Obligations

The following table presents a schedule of BAM’s insured obligations as of September 30, 2021 and December 31, 2020:

	September 30, 2021		December 31, 2020
Contracts outstanding	11,877		10,997
Remaining weighted average contract period outstanding (in years)	10.7		10.7
Contractual debt service outstanding (in millions):
Principal	$	83,829.0	$	75,287.7
Interest	39,528.4		36,448.8
Total debt service outstanding	$	123,357.4	$	111,736.5
Gross unearned insurance premiums (in millions)	$	257.0	$	237.5

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, 2021:

Millions	September 30, 2021
October 1, 2021 - December 31, 2021	$	6.2
January 1, 2022 - March 31, 2022	6.1
April 1, 2022 - June 30, 2022	6.1
July 1, 2022 - September 30, 2022	6.0
October 1, 2022 - December 31, 2022	5.9
Total 2022	24.1
2023	22.8
2024	21.1
2025	19.6
2026	18.1
2027 and thereafter	145.1
Total gross unearned insurance premiums	$	257.0

Schedule of Net Written Premiums

The following table presents a schedule of written premiums and earned premiums included in White Mountains’s HG Global/BAM segment for the three and nine months ended September 30, 2021 and 2020:

	Three Months Ended September 30,				Nine Months Ended September 30,
Millions	2021		2020		2021		2020
Written premiums:
Direct	$	12.8	$	14.4	$	34.5	$	45.5
Assumed	—		—		4.5		.1
Gross written premiums (1)	$	12.8	$	14.4	$	39.0	$	45.6
Earned premiums:
Direct	$	5.9	$	5.3	$	16.8	$	14.5
Assumed	.8		.9		2.8		2.7
Gross earned premiums (1)	$	6.7	$	6.2	$	19.6	$	17.2

(1) There are no ceded premium amounts in the periods presented. Gross written premiums and Gross earned premium are equivalent to net written premiums and net earned premiums.