Municipal Bond Guarantee Insurance (Tables)

3 Months Ended

Mar. 31, 2022

Guarantees [Abstract]

Schedule of Municipal Bond Guarantee Insured Obligations

The following table presents a schedule of BAM’s insured obligations as of March 31, 2022 and December 31, 2021:

	March 31, 2022		December 31, 2021
Contracts outstanding	12,611		12,350
Remaining weighted average contract period outstanding (in years)	10.8		10.8
Contractual debt service outstanding (in millions):
Principal	$	91,609.8	$	89,196.5
Interest	42,353.7		41,486.5
Total debt service outstanding	$	133,963.5	$	130,683.0
Gross unearned insurance premiums (in millions)	$	267.3	$	266.3

Financial Guarantee Insurance Contracts, Premium Received over Contract Period

The following table presents a schedule of BAM’s future premium revenues as of March 31, 2022:

Millions	March 31, 2022
April 1, 2022 - December 31, 2022	$	19.1
January 1, 2023 - March 31, 2023	6.2
April 1, 2023 - June 30, 2023	6.1
July 1, 2023 - September 30, 2023	6.0
October 1, 2023 - December 31, 2023	5.9
Total 2023	24.2
2024	22.7
2025	21.1
2026	19.6
2027	18.1
2028 and thereafter	142.5
Total gross unearned insurance premiums	$	267.3

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 months ended March 31, 2022 and 2021:

	Three Months Ended March 31,
Millions	2022		2021
Written premiums:
Direct	$	9.4	$	8.0
Assumed	—		4.5
Gross written premiums (1)	$	9.4	$	12.5
Earned premiums:
Direct	$	7.6	$	5.3
Assumed	.8		1.1
Gross earned premiums (1)	$	8.4	$	6.4

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