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Reserves for Losses and Loss Adjustment Expenses (Tables)
 3 Months Ended
Mar. 31, 2019
Insurance [Abstract]  
Reconciliation of Beginning and Ending Consolidated Loss and Loss Adjustment Expenses Reserves
The following table represents a reconciliation of beginning and ending consolidated loss and loss adjustment expenses (“LAE”) reserves for the three months ended March 31, 2019 and 2018 and the twelve months ended December 31, 2018:
 
Three Months Ended March 31, 2019
 
Three Months Ended March 31, 2018
 
Twelve Months Ended December 31, 2018
 
($ in millions)
Provision for losses and LAE at the start of the year
$
7,074.2

 
$
6,749.5

 
$
6,749.5

Less reinsurance recoverable
(2,077.6
)
 
(1,515.2
)
 
(1,515.2
)
Net loss and LAE at the start of the year
4,996.6

 
5,234.3

 
5,234.3

 
 
 
 
 
 
Provision for losses and LAE for claims incurred:
 
 
 
 
 
Current year
304.2

 
347.9

 
1,684.1

Prior years
7.6

 
(37.7
)
 
(111.1
)
Total incurred
311.8

 
310.2

 
1,573.0

Losses and LAE payments for claims incurred:
 
 
 
 
 
Current year
(7.1
)
 
(7.4
)
 
(285.7
)
Prior years
(474.8
)
 
(483.7
)
 
(1,441.0
)
Total paid
(481.9
)
 
(491.1
)
 
(1,726.7
)
 
 
 
 
 
 
Foreign exchange losses/(gains)
50.9

 
14.7

 
(84.0
)
 
 
 
 
 
 
Net losses and LAE reserves at period end
4,877.4

 
5,068.1

 
4,996.6

Plus reinsurance recoverable on unpaid losses at period end
2,122.9

 
1,611.3

 
2,077.6

Provision for losses and LAE at the end of the relevant period
$
7,000.3

 
$
6,679.4

 
$
7,074.2