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Third Party Reinsurance (Tables)
 12 Months Ended
Dec. 31, 2012
Reinsurance Disclosures [Abstract]  
Schedule of direct assumed and ceded amounts
The effects of reinsurance on White Mountains’ insurance and reinsurance subsidiaries’ written and earned premiums and on losses and LAE were as follows:
 
 
Year ended December 31, 2012
Millions
 
OneBeacon
 
Sirius Group
 
Total
Written premiums:
 
 
 
 
 
 
Direct
 
$
1,204.0

 
$
186.1

 
$
1,390.1

Assumed
 
55.2

 
992.7

 
1,047.9

Gross written premiums
 
1,259.2

 
1,178.8

 
2,438.0

Ceded
 
(80.0
)
 
(231.1
)
 
(311.1
)
Net written premiums
 
$
1,179.2

 
$
947.7

 
$
2,126.9

Earned premiums:
 
 
 
 
 
 
Direct
 
$
1,158.3

 
$
169.9

 
$
1,328.2

Assumed
 
52.8

 
988.3

 
1,041.1

Gross earned premiums
 
1,211.1

 
1,158.2

 
2,369.3

Ceded
 
(79.1
)
 
(226.6
)
 
(305.7
)
Net earned premiums
 
$
1,132.0

 
$
931.6

 
$
2,063.6

Losses and LAE:
 
 
 
 
 
 
Direct
 
$
687.5

 
$
96.9

 
$
784.4

Assumed
 
29.6

 
523.9

 
553.5

Gross losses and LAE
 
717.1

 
620.8

 
1,337.9

Ceded
 
(67.1
)
 
(76.9
)
 
(144.0
)
Net losses and LAE
 
$
650.0

 
$
543.9

 
$
1,193.9


 
 
Year ended December 31, 2011
Millions
 
OneBeacon
 
Sirius Group
 
Total
Written premiums:
 
 
 
 
 
 
Direct
 
$
1,079.2

 
$
139.5

 
$
1,218.7

Assumed
 
49.1

 
988.6

 
1,037.7

Gross written premiums
 
1,128.3

 
1,128.1

 
2,256.4

Ceded
 
(65.6
)
 
(212.4
)
 
(278.0
)
Net written premiums
 
$
1,062.7

 
$
915.7

 
$
1,978.4

Earned premiums:
 
 
 
 
 
 
Direct
 
$
1,035.9

 
$
128.5

 
$
1,164.4

Assumed
 
42.3

 
989.8

 
1,032.1

Gross earned premiums
 
1,078.2

 
1,118.3

 
2,196.5

Ceded
 
(66.0
)
 
(206.0
)
 
(272.0
)
Net earned premiums
 
$
1,012.2

 
$
912.3

 
$
1,924.5

Losses and LAE:
 
 
 
 
 
 
Direct
 
$
551.8

 
$
80.0

 
$
631.8

Assumed
 
9.2

 
627.8

 
637.0

Gross losses and LAE
 
561.0

 
707.8

 
1,268.8

Ceded
 
(12.7
)
 
(81.8
)
 
(94.5
)
Net losses and LAE
 
$
548.3

 
$
626.0

 
$
1,174.3

 
 
Year ended December 31, 2010
Millions
 
OneBeacon
 
Sirius Group
 
Total
Written premiums:
 
 
 
 
 
 
Direct
 
$
1,236.7

 
$
121.6

 
$
1,358.3

Assumed
 
55.8

 
957.5

 
1,013.3

Gross written premiums
 
1,292.5

 
1,079.1

 
2,371.6

Ceded
 
(124.8
)
 
(213.3
)
 
(338.1
)
Net written premiums
 
$
1,167.7

 
$
865.8

 
$
2,033.5

Earned premiums:
 
 
 
 
 
 
Direct
 
$
1,242.5

 
$
117.9

 
$
1,360.4

Assumed
 
60.7

 
929.7

 
990.4

Gross earned premiums
 
1,303.2

 
1,047.6

 
2,350.8

Ceded
 
(122.1
)
 
(199.7
)
 
(321.8
)
Net earned premiums
 
$
1,181.1

 
$
847.9

 
$
2,029.0

Losses and LAE:
 
 
 
 
 
 
Direct
 
$
677.1

 
$
59.4

 
$
736.5

Assumed
 
45.1

 
684.4

 
729.5

Gross losses and LAE
 
722.2

 
743.8

 
1,466.0

Ceded
 
(36.6
)
 
(212.8
)
 
(249.4
)
Net losses and LAE
 
$
685.6

 
$
531.0

 
$
1,216.6
Listing of Sirius's top reinsurers
The following table provides a listing of Sirius Group’s top reinsurers based upon recoverable amounts, the percentage of total recoverables and the reinsurer’s A.M. Best Rating.
Top Reinsurers ($ in millions)
 
Balance at
December 31, 
2012
 
% of Total
 
A.M. Best
Rating(1)
 
% Collateralized
General Reinsurance Corporation
 
$
56.2

 
17
%
 
A++
 
—
%
Swiss Re Group
 
36.4

 
11
%
 
A+
 
2
%
Olympus Re (2)
 
29.6

 
9
%
 
NR-5
 
100
%
Lloyds of London (3)
 
19.4

 
6
%
 
A
 
8
%
Michigan Catastrophic Claims Association (4)
 
14.7

 
4
%
 
N/A
 
—
%
(1)  A.M. Best ratings as detailed above are: “A++” (Superior, which is the highest of 16 financial strength ratings), “A+” (Superior, which is the
second highest of 16 financial strength ratings), and “A” (Excellent, which is the third highest of 16 financial strength ratings).
(2) Non-U.S. insurance entity. The balance is fully collateralized through funds held, letters of credit or trust agreements.
(3) Represents the total of reinsurance recoverables due to Sirius Group from all Lloyds Syndicates.
(4) Michigan Catastrophic Claims Association (”MCCA”) is a non-profit unincorporated association., established by the State of Michigan with
the power to issue and collect assessments, to which every insurance company that sells automobile coverage in Michigan is required to be a
member. A.M. Best does not rate MCCA. Sirius Group acquired its recoverable from MCCA in the acquisition of Stockbridge Insurance
Company. As part of the acquisition, Sirius Group obtained $25.0 of reinsurance protection from the seller (currently rated A+ by A.M. Best)
for unfavorable loss reserve development, including uncollectible reinsurance.