Commitments and Contingencies

12 Months Ended

Dec. 31, 2024

Commitments and Contingencies Disclosure [Abstract]

(a) We purchase annuities from life insurance companies to fulfill obligations under claim settlements that provide for periodic future payments to claimants. As of December 31, 2024, we had purchased such annuities with a present value of $32.4 million for settlement of claims on a structured basis for which we are contingently liable. To our knowledge, there are no material defaults from any of the issuers of such annuities.

(b) As of December 31, 2024, we have made commitments that may require us to invest additional amounts into our investment portfolio, which are as follows:


($ in millions)	Amount of Obligation
Alternative investments	$	320.5
Non-publicly traded CLOs in our fixed income securities portfolio	143.4
Non-publicly traded common stock within our equity portfolio	22.1
CMLs	18.4

Privately-placed corporate securities	57.0
Total	$	561.4

There is no certainty that any such additional investment will be required. We expect to have the capacity to repay or refinance these obligations as they come due.