Third-Party Reinsurance (Tables)

3 Months Ended

Mar. 31, 2022

Reinsurance Disclosures [Abstract]

Effects of Reinsurance

The following table summarizes the effects of reinsurance on written and earned premiums and on losses and LAE for Ark.

	Three Months Ended March 31,
Millions	2022		2021
Written premiums:
Gross	$	633.1	$	404.5
Ceded	(89.3)		(62.1)
Net written premiums	$	543.8	$	342.4
Earned premiums:
Gross	$	245.3	$	162.6
Ceded	(50.9)		(58.0)
Net earned premiums	$	194.4	$	104.6
Losses and loss adjustment expenses:
Gross	$	183.1	$	115.6
Ceded	(61.1)		(49.6)
Net losses and loss adjustment expenses	$	122.0	$	66.0

The following table provides a listing of Ark’s remaining gross and net reinsurance recoverables, excluding amounts attributable to TPC Providers, by the reinsurer’s A.M. Best Company, Inc (“A.M. Best”) rating and the percentage of total recoverables.

$ in Millions	As of March 31, 2022
A.M. Best Rating(1)	Gross		Collateral		Net		% of Total
A+ or better	$	135.5	$	15.1	$	120.4	74.3	%
A- to A	54.6		14.1		40.5		25.0
B++ or lower and not rated	15.3		14.2		1.1		0.7
Total	$	205.4	$	43.4	$	162.0	100.0	%

(1) A.M. Best ratings as detailed above are: “A+ or better” (Superior) “A- to A” (Excellent), “B++” (Good).