Loss and Loss Adjustment Expense Reserves (Tables)

9 Months Ended

Sep. 30, 2025

Insurance [Abstract]

Summary of loss and LAE reserve activity

The following table summarizes the loss and loss adjustment expense (“LAE”) reserve activity of the Ark/WM Outrigger segment for the three and nine months ended September 30, 2025 and 2024:

	Three Months Ended September 30,				Nine Months Ended September 30,
Millions	2025		2024		2025		2024
Gross beginning balance	$	2,288.5	$	1,890.1	$	2,127.5	$	1,605.1
Less: beginning reinsurance recoverable on unpaid losses	(468.5)		(458.5)		(434.4)		(340.8)
Net loss and LAE reserves	1,820.0		1,431.6		1,693.1		1,264.3
Loss and LAE incurred relating to:
Current year losses	254.7		313.1		722.1		676.0
Prior year losses	(.1)		(24.8)		(70.0)		(32.0)
Net incurred loss and LAE	254.6		288.3		652.1		644.0
Loss and LAE paid relating to:
Current year losses	(33.3)		(19.1)		(146.0)		(27.4)
Prior year losses	(84.9)		(86.3)		(264.7)		(261.8)
Net paid loss and LAE	(118.2)		(105.4)		(410.7)		(289.2)
Foreign currency translation and other adjustments    to loss and LAE reserves	(1.0)		11.3		20.9		6.7
Net ending balance	1,955.4		1,625.8		1,955.4		1,625.8
Plus: ending reinsurance recoverable on unpaid losses	522.5		507.2		522.5		507.2
Gross ending balance	$	2,477.9	$	2,133.0	$	2,477.9	$	2,133.0