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Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Millions | Dec. 31, 2024 | Dec. 31, 2023
--- | --- | ---
Deferred tax assets related to: |  |
Non-U.S. net operating loss carryforwards | $ 62.8 | $ 68.2
Intangible assets | 51.5 | 51.5
Incentive compensation | 23.8 | 25.4
Unearned premiums | 20.5 | 18.2
Loss reserves | 8.5 | 8.4
U.S. federal and state net operating and capital loss carryforwards | 6.4 | 87.6
Tax credit carryforwards | 2.8 | 3.3
Accrued interest | 0.2 | 10.1
Deferred acquisition costs | 0.0 | 3.7
Other items | 0.9 | 1.0
Total gross deferred tax assets | 177.4 | 277.4
Less: valuation allowances | 89.2 | 116.1
Total net deferred tax assets | 88.2 | 161.3
Deferred tax liabilities related to: |  |
Purchase accounting | 43.9 | 43.9
Investment basis difference | 43.5 | 40.9
Deferred underwriting | 24.3 | 18.3
Net unrealized investment gains | 19.0 | 15.5
Deferred acquisition costs | 6.5 | 0.0
BAM member surplus contributions prior to deconsolidation | 0.0 | 82.2
Other items | 1.2 | 1.2
Total deferred tax liabilities | 138.4 | 202.0
Net deferred tax asset (liability) | $ (50.2) | $ (40.7)

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