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Third-Party Reinsurance (Tables) | 12 Months Ended
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Dec. 31, 2022
Reinsurance Disclosures [Abstract] |
Effects of Reinsurance | The following table summarizes the effects of reinsurance on written and earned premiums and on losses and LAE for Ark.
|  | Year Ended December 31, |  |
Millions |  | 2022 |  | 2021 |  |
Written premiums: |  |  |  |  |  |
Gross |  | $ | 1,452.0 |  |  | $ | 1,058.7 |  |  |
Ceded |  | (256.8) |  |  | (199.6) |  |  |
Net written premiums |  | $ | 1,195.2 |  |  | $ | 859.1 |  |  |
Earned premiums: |  |  |  |  |  |
Gross |  | $ | 1,324.2 |  |  | $ | 886.4 |  |  |
Ceded |  | (280.8) |  |  | (249.1) |  |  |
Net earned premiums |  | $ | 1,043.4 |  |  | $ | 637.3 |  |  |
Losses and LAE: |  |  |  |  |  |
Gross |  | $ | 814.9 |  |  | $ | 442.9 |  |  |
Ceded |  | (278.5) |  |  | (128.1) |  |  |
Net Losses and LAE |  | $ | 536.4 |  |  | $ | 314.8 |  |  |
The following table provides a listing of Ark’s remaining gross and net reinsurance recoverables, excluding amounts related to TPC Providers, by the reinsurer’s A.M. Best Company, Inc. (“A.M. Best”) rating and the percentage of total recoverables.
$ in Millions |  | As of December 31, 2022
A.M. Best Rating (1) |  | Gross |  | Collateral |  | Net |  | % of Total
A+ or better |  | $ | 190.0 |  |  | $ | — |  |  | $ | 190.0 |  |  | 67.4 | %
A- to A |  | 75.3 |  | — |  |  | 75.3 |  | 26.7 |
B++ or lower and not rated |  | 125.4 |  | 108.9 |  | 16.5 |  | 5.9 |
Total |  | $ | 390.7 |  |  | $ | 108.9 |  |  | $ | 281.8 |  |  | 100.0 | %
(1) A.M. Best ratings as detailed above are: “A+ or better” (Superior) “A- to A” (Excellent), “B++” (Good).

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- Definition Tabular disclosure of the effects of reinsurance, for example, but not limited to, disclosure of direct, assumed, and ceded insurance. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 605 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=6486672&loc=d3e27261-158547 + Details
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