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v3.26.1

Investments (Tables) | 6 Months Ended
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Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract] |
Schedule of Amortized Cost and Fair Values of Investment in Fixed Maturities | The following tables present cost or amortized cost and fair values of investment in fixed maturities as of June 30, 2026 and December 31, 2025 ($ in millions):
|  | Cost or Amortized Cost |  | Gross Unrealized |  | Fair Value
|  |  | Gains |  | Losses |
June 30, 2026 |  |  |  |  |  |  |  |
Corporate debt securities |  | $ | 503.4 |  |  | $ | 0.1 |  |  | $ | (2.1) |  |  | $ | 501.4 |
U.S. Government obligations |  | 157.5 |  |  | — |  |  | (1.5) |  |  | 156.0 |
Asset-backed securities and collateralized loan obligations |  | 82.5 |  |  | — |  |  | (0.3) |  |  | 82.2 |
Non-U.S. government obligations |  | 29.0 |  |  | — |  |  | (0.1) |  |  | 28.9 |
Total |  | $ | 772.4 |  |  | $ | 0.1 |  |  | $ | (4.0) |  |  | $ | 768.5 |
December 31, 2025 |  |  |  |  |  |  |  |
Corporate debt securities |  | $ | 499.2 |  |  | $ | 2.0 |  |  | $ | — |  |  | $ | 501.2 |
U.S. Government obligations |  | 139.5 |  |  | 0.6 |  |  | — |  |  | 140.1 |
Asset-backed securities |  | 45.3 |  |  | 0.2 |  |  | — |  |  | 45.5 |
Non-U.S. government obligations |  | 22.0 |  |  | — |  |  | — |  |  | 22.0 |
Total |  | $ | 706.0 |  |  | $ | 2.8 |  |  | $ | — |  |  | $ | 708.8 |
Schedule of Contractual Maturities of Bonds | The following table presents the cost or amortized cost and estimated fair value of investments in fixed maturities as of June 30, 2026 by contractual maturity ($ in millions). Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties.
|  | June 30, 2026
|  | Cost or Amortized Cost |  | Fair Value
Due in one year or less |  | $ | 100.8 |  |  | $ | 100.9 |
Due after one year through five years |  | 589.1 |  |  | 585.4 |
Due after five years through ten years |  | — |  |  | — |
Due after ten years |  | — |  |  | — |
Sub-total |  | 689.9 |  |  | 686.3 |
Asset-backed securities and collateralized loan obligations |  | 82.5 |  |  | 82.2 |
Total |  | $ | 772.4 |  |  | $ | 768.5 |
Schedule of Net Investment Income | Details of the Company's net investment income is as follows ($ in millions):
|  | Three Months Ended June 30, |  | Six Months Ended June 30,
|  | 2026 |  | 2025 |  | 2026 |  | 2025
Interest on cash and cash equivalents |  | $ | 1.9 |  |  | $ | 2.1 |  |  | $ | 4.0 |  |  | $ | 4.2 |
Fixed maturities |  | 7.8 |  |  | 7.2 |  |  | 15.5 |  |  | 14.4 |
Short-term investments |  | 0.1 |  |  | 0.2 |  |  | 0.2 |  |  | 0.5 |
Total |  | 9.8 |  |  | 9.5 |  |  | 19.7 |  |  | 19.1 |
Investment expense |  | 0.1 |  |  | 0.1 |  |  | 0.2 |  |  | 0.2 |
Net investment income |  | $ | 9.7 |  |  | $ | 9.4 |  |  | $ | 19.5 |  |  | $ | 18.9 |
Schedule of Aging of Gross Unrealized losses | The following table presents the gross unrealized losses and related fair values for the Company’s investment in fixed maturities, grouped by duration of time in a continuous unrealized loss position as of June 30, 2026 and December 31, 2025 ($ in millions):
|  | Less than 12 Months |  | 12 Months or More |  | Total
|  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
June 30, 2026 |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities |  | $ | 411.6 |  |  | $ | (2.1) |  |  | $ | — |  |  | $ | — |  |  | $ | 411.6 |  |  | $ | (2.1) |
U.S. Government obligations |  | 144.2 |  |  | (1.5) |  |  | — |  |  | — |  |  | 144.2 |  |  | (1.5) |
Asset-backed securities and collateralized loan obligations |  | 63.4 |  |  | (0.3) |  |  | — |  |  | — |  |  | 63.4 |  |  | (0.3) |
Non-U.S. government obligations |  | 21.0 |  |  | (0.1) |  |  | — |  |  | — |  |  | 21.0 |  |  | (0.1) |
Total |  | $ | 640.2 |  |  | $ | (4.0) |  |  | $ | — |  |  | $ | — |  |  | $ | 640.2 |  |  | $ | (4.0) |
|  | Less than 12 Months |  | 12 Months or More |  | Total
|  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses |  | Fair Value |  | Gross Unrealized Losses
December 31, 2025 |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities |  | $ | 45.9 |  |  | $ | — |  |  | $ | 4.9 |  |  | $ | — |  |  | $ | 50.8 |  |  | $ | — |
U.S. Government obligations |  | 0.4 |  |  | — |  |  | — |  |  | — |  |  | 0.4 |  |  | — |
Asset-backed securities |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Non-U.S. government obligations |  | 7.2 |  |  | — |  |  | — |  |  | — |  |  | 7.2 |  |  | — |
Total |  | $ | 53.5 |  |  | $ | — |  |  | $ | 4.9 |  |  | $ | — |  |  | $ | 58.4 |  |  | $ | — |

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