Loss and Loss Adjustment Expense Reserves (Tables)

9 Months Ended

Sep. 30, 2021

Loss and Loss Adjustment Expenses Reserves [Abstract]

Schedule of Liability for Unpaid Claims and Claims Adjustment Expense

Activity in the loss and loss adjustment expense reserves is summarized as follows:

	September 30,
(millions)	2021		2020
Balance at January 1	$	20,265.8	$	18,105.4
Less reinsurance recoverables on unpaid losses	3,798.2		3,212.2
Net balance at January 1	16,467.6		14,893.2
Net loss and loss adjustment expense reserves acquired1	732.5		0
Total beginning reserves	17,200.1		14,893.2
Incurred related to:
Current year	24,610.8		18,073.6
Prior years	156.8		116.1
Total incurred	24,767.6		18,189.7
Paid related to:
Current year	13,650.6		10,615.2
Prior years	7,213.3		6,682.8
Total paid	20,863.9		17,298.0
Net balance at September 30	21,103.8		15,784.9
Plus reinsurance recoverables on unpaid losses	4,822.5		3,804.3
Balance at September 30	$	25,926.3	$	19,589.2

1 Net reserves acquired in Protective Insurance acquisition.