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Reserves for Unpaid Losses and Loss Adjustment Expenses (Tables) | 12 Months Ended
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Dec. 31, 2014
Insurance Loss Reserves [Abstract] |
Loss and LAE reserve activities | The following table summarizes the loss and LAE reserve activities of White Mountains’s insurance and reinsurance subsidiaries for the years ended December 31, 2014, 2013 and 2012:
|  | Year Ended December 31,
Millions |  | 2014 |  | 2013 |  | 2012
Gross beginning balance |  | $ | 3,079.3 |  |  | $ | 3,168.9 |  |  | $ | 5,702.3 |
Less beginning reinsurance recoverable on unpaid losses |  | (428.1 | ) |  | (429.1 | ) |  | (2,507.3 | )
Net loss and LAE reserves |  | 2,651.2 |  |  | 2,739.8 |  |  | 3,195.0 |
Less: Beginning net loss and LAE reserves for AutoOne and the Runoff Transaction(1) |  | — |  |  | — |  |  | (383.3 | )
Loss and LAE reserves acquired(2) |  | 45.4 |  |  | 37.7 |  |  | 17.0 |
Loss and LAE reserves consolidated — SSIE |  | 13.6 |  |  | — |  |  | — |
Losses and LAE incurred relating to: |  |  |  |  |  |
Current year losses |  | 1,175.3 |  |  | 1,088.9 |  |  | 1,235.8 |
Prior year losses |  | (6.0 | ) |  | (48.4 | ) |  | (41.9 | )
Total incurred losses and LAE |  | 1,169.3 |  |  | 1,040.5 |  |  | 1,193.9 |
Accretion of fair value adjustment to net loss and LAE reserves |  | 0.7 |  |  | 1.7 |  |  | 10.6 |
Foreign currency translation adjustment to net loss and LAE reserves |  | (36.0 | ) |  | .3 |  |  | 12.9 |
Loss and LAE paid relating to: |  |  |  |  |  |  |  |  |
Current year losses |  | (345.3 | ) |  | (336.2 | ) |  | (404.7 | )
Prior year losses |  | (823.0 | ) |  | (832.6 | ) |  | (901.6 | )
Total loss and LAE payments |  | (1,168.3 | ) |  | (1,168.8 | ) |  | (1,306.3 | )
Net ending balance |  | 2,675.9 |  |  | 2,651.2 |  |  | 2,739.8 |
Plus ending reinsurance recoverable on unpaid losses |  | 483.9 |  |  | 428.1 |  |  | 429.1 |
Gross ending balance |  | $ | 3,159.8 |  |  | $ | 3,079.3 |  |  | $ | 3,168.9 |
(1) | Loss and LAE reserve balances from OneBeacon’s Runoff Business prior to December 31, 2012 were not classified as held for sale. Adjustment is to present loss and LAE reserve activities for continuing operations.
(2) | Loss and LAE reserves acquired in 2014 relate to Sirius Group’s purchase of Olympus Re and loss portfolio transfer from Transamerica. Loss and LAE reserves acquired in 2013 relate to WM Solutions’s purchases of Empire and Ashmere. Loss and LAE reserves acquired in 2012 relate to WM Solutions’s purchases of PICO, Citation, Woodridge and Oakwood.
Schedule of asbestos and environmental loss and LAE reserve activities | Sirius Group
Net A&E Loss Reserve Activity |  | Year Ended December 31,
|  | 2014 |  | 2013 |  | 2012
Millions |  | Gross |  | Net |  | Gross |  | Net |  | Gross |  | Net
Asbestos: |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 207.4 |  |  | $ | 178.7 |  |  | $ | 208.2 |  |  | $ | 174.2 |  |  | $ | 185.1 |  |  | $ | 146.2 |
Losses and LAE acquired |  | 22.9 |  |  | 22.9 |  |  | 13.0 |  |  | 13.0 |  |  | 11.0 |  |  | 11.0 |
Incurred losses and LAE |  | 7.4 |  |  | 8.0 |  |  | 12.1 |  |  | 11.8 |  |  | 46.8 |  |  | 46.4 |
Paid losses and LAE |  | (21.9 | ) |  | (16.8 | ) |  | (25.9 | ) |  | (20.3 | ) |  | (34.7 | ) |  | (29.4 | )
Ending balance |  | 215.8 |  |  | 192.8 |  |  | 207.4 |  |  | 178.7 |  |  | 208.2 |  |  | 174.2 |
Environmental: |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | 20.4 |  |  | 15.2 |  |  | 20.4 |  |  | 15.2 |  |  | 22.1 |  |  | 16.5 |
Losses and LAE acquired |  | 2.1 |  |  | 2.1 |  |  | 1.0 |  |  | 1.0 |  |  | 0.7 |  |  | 0.7 |
Incurred losses and LAE |  | 1.6 |  |  | 1.6 |  |  | .8 |  |  | .8 |  |  | (0.1 | ) |  | (0.5 | )
Paid losses and LAE |  | (1.4 | ) |  | (1.5 | ) |  | (1.8 | ) |  | (1.8 | ) |  | (2.3 | ) |  | (1.5 | )
Ending balance |  | 22.7 |  |  | 17.4 |  |  | 20.4 |  |  | 15.2 |  |  | 20.4 |  |  | 15.2 |
Total asbestos and environmental: |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | 227.8 |  |  | 193.9 |  |  | 228.6 |  |  | 189.4 |  |  | 207.2 |  |  | 162.7 |
Losses and LAE acquired |  | 25.0 |  |  | 25.0 |  |  | 14.0 |  |  | 14.0 |  |  | 11.7 |  |  | 11.7 |
Incurred losses and LAE |  | 9.0 |  |  | 9.6 |  |  | 12.9 |  |  | 12.6 |  |  | 46.7 |  |  | 45.9 |
Paid losses and LAE |  | (23.3 | ) |  | (18.3 | ) |  | (27.7 | ) |  | (22.1 | ) |  | (37.0 | ) |  | (30.9 | )
Ending balance |  | $ | 238.5 |  |  | $ | 210.2 |  |  | $ | 227.8 |  |  | $ | 193.9 |  |  | $ | 228.6 |  |  | $ | 189.4 |
Loss and LAE Reserve and Net Loss and LAE Development [Table Text Block] | The components of the 2014 fourth quarter loss and LAE reserve increase and the net loss and LAE development for the full year are provided below:
Millions |  | 2014 Fourth Quarter Reserve Increases |  | Full Year 2014
Underwriting Unit |  | Current Accident Year |  | Prior Accident Year |  | Total |  | Net Prior Year Development
Professional Insurance |  | $ | 22.9 |  |  | $ | 46.4 |  |  | $ | 69.3 |  |  | $ | 59.1 |
Specialty Property |  | (1.1 | ) |  | 5.7 |  |  | 4.6 |  |  | 1.1 |
Crop |  | 3.8 |  |  | — |  |  | 3.8 |  |  | — |
Other |  | 2.8 |  |  | (.4 | ) |  | 2.4 |  |  | 1.6 |
Specialty Products |  | 28.4 |  |  | 51.7 |  |  | 80.1 |  |  | 61.8 |
Entertainment |  | 1.5 |  |  | 11.6 |  |  | 13.1 |  |  | 13.5 |
Accident |  | — |  |  | 3.5 |  |  | 3.5 |  |  | 6.0 |
Government Risks |  | 1.2 |  |  | 7.1 |  |  | 8.3 |  |  | 8.5 |
Other |  | 2.6 |  |  | 1.6 |  |  | 4.2 |  |  | — |
Specialty Industries |  | 5.3 |  |  | 23.8 |  |  | 29.1 |  |  | 28.0 |
Total |  | $ | 33.7 |  |  | $ | 75.5 |  |  | $ | 109.2 |  |  | $ | 89.8 |

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- Definition Tabular disclosure of the activity in the reserve for settling insured claims and expenses incurred in the claims settlement process for the period. The estimated liability includes the amount of money that will be required for future payments of (a) claims that have been reported to the insurer, (b) claims related to insured events that have occurred but that have not been reported to the insurer as of the date the liability is estimated, and (c) claim adjustment expenses. Claim adjustment expenses include costs incurred in the claim settlement process such as legal fees; outside adjuster fees; and costs to record, process, and adjust claims. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -Section 50 -Paragraph 3 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=6482485&loc=d3e14764-158437 + Details
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- Definition Tabular disclosure of asbestos and environmental loss and LAE reserve activities including beginning balance, incurred losses and LAE, paid losses and LAE and ending balance. + References No definition available. + Details
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