Loss and Loss Adjustment Expense Reserves (Tables)

3 Months Ended

Mar. 31, 2022

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 months ended March 31, 2022 and 2021:

	Three Months Ended March 31,
Millions	2022		2021
Gross beginning balance	$	894.7	$	696.0
Less: beginning reinsurance recoverable on unpaid losses (1)	(428.9)		(433.4)
Net loss and loss adjustment expense reserves	465.8		262.6
Loss and loss adjustment expenses incurred relating to:
Current year losses	125.7		65.5
Prior year losses	(3.7)		.5
Net incurred losses and loss adjustment expenses	122.0		66.0
Loss and loss adjustment expenses paid relating to:
Current year losses	(0.6)		(5.2)
Prior year losses	(39.4)		(19.7)
Net loss and loss adjustment expenses	(40.0)		(24.9)
Change in TPC Providers’ participation	57.5		(2.2)
Foreign currency translation and other adjustments to loss and loss adjustment expense reserves	(1.7)		2.9
Net ending balance	603.6		304.4
Plus: ending reinsurance recoverable on unpaid losses (2)	396.0		447.5
Gross ending balance	$	999.6	$	751.9

(1) The beginning reinsurance recoverable on unpaid losses includes amounts attributable to TPC Providers of $276.8 and $319.2.

(2) The ending reinsurance recoverable on unpaid losses includes amounts attributable to TPC Providers of $207.3 and $331.0.