Loss and loss adjustment expense reserves (Tables)

3 Months Ended

Mar. 31, 2023

Insurance [Abstract]

Schedule of loss and loss adjustment expense reserves

The following table represents the activity in the loss and loss adjustment expense reserves for the three months ended March 31, 2023 and 2022:

	2023		2022
Gross reserves for loss and loss adjustment expenses, beginning of period	$	5,268.7	$	4,841.4
Less: loss and loss adjustment expenses recoverable, beginning of period	(1,376.2)		(1,215.3)
Less: deferred charges on retroactive reinsurance contracts	(1.0)		(1.4)
Net reserves for loss and loss adjustment expenses, beginning of period	3,891.5		3,624.7
Increase (decrease) in net loss and loss adjustment expenses incurred in respect of losses occurring in:
Current year	372.5		345.6
Prior years	(105.4)		(5.5)
Total incurred loss and loss adjustment expenses	267.1		340.1
Net loss and loss adjustment expenses paid in respect of losses occurring in:
Current year	(36.4)		(38.3)
Prior years	(202.1)		(254.1)
Total net paid losses	(238.5)		(292.4)
Foreign currency translation	6.0		(16.3)
Net reserves for loss and loss adjustment expenses, end of period	3,926.1		3,656.1
Plus: loss and loss adjustment expenses recoverable, end of period	1,392.0		1,278.6
Plus: deferred charges on retroactive reinsurance contracts (1)	0.8		1.3
Gross reserves for loss and loss adjustment expenses, end of period	$	5,318.9	$	4,936.0

(1)Deferred charges on retroactive contracts are recorded in other assets on the Company’s consolidated balance sheets.