Third-Party Reinsurance (Tables)

12 Months Ended

Dec. 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.

	Year Ended December 31,
Millions	2022		2021
Written premiums:
Gross	$	1,452.0	$	1,058.7
Ceded	(256.8)		(199.6)
Net written premiums	$	1,195.2	$	859.1
Earned premiums:
Gross	$	1,324.2	$	886.4
Ceded	(280.8)		(249.1)
Net earned premiums	$	1,043.4	$	637.3
Losses and LAE:
Gross	$	814.9	$	442.9
Ceded	(278.5)		(128.1)
Net Losses and LAE	$	536.4	$	314.8

The following table provides a listing of Ark’s remaining gross and net reinsurance recoverables, excluding amounts related 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 December 31, 2022
A.M. Best Rating (1)	Gross		Collateral		Net		% of Total
A+ or better	$	190.0	$	—	$	190.0	67.4	%
A- to A	75.3		—		75.3		26.7
B++ or lower and not rated	125.4		108.9		16.5		5.9
Total	$	390.7	$	108.9	$	281.8	100.0	%

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