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Reinsurance (Tables) | 6 Months Ended
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Jun. 30, 2023
Reinsurance Disclosures [Abstract] |
Summary of Assumed and Ceded Reinsurance on Premiums Written, Premiums Earned and Insurance Losses and Loss Adjustment Expenses | The effect of assumed and ceded reinsurance on premiums written, premiums earned and insurance losses and loss adjustment expenses for the twelve months ended December 31, 2022, 2021 and 2020 was as follows:
| Twelve Months Ended December 31,
| 2022 |  | 2021 |  | 2020
| ($ in millions)
Premiums written: |  |  |  |  |
Direct | $ | 2,531.7 |  |  | $ | 2,341.4 |  |  | $ | 2,042.1 |
Assumed | 1,807.0 |  |  | 1,597.0 |  |  | 1,656.4 |
Ceded | (1,442.7) |  |  | (1,350.7) |  |  | (1,120.7) |
Net premiums written | $ | 2,896.0 |  |  | $ | 2,587.7 |  |  | $ | 2,577.8 |
Premiums earned: |  |  |  |  |
Direct | $ | 2,370.8 |  |  | $ | 2,139.1 |  |  | $ | 2,026.4 |
Assumed | 1,617.2 |  |  | 1,479.2 |  |  | 1,612.0 |
Ceded | (1,299.3) |  |  | (1,207.8) |  |  | (1,110.9) |
Net premiums earned | $ | 2,688.7 |  |  | $ | 2,410.5 |  |  | $ | 2,527.5 |
Insurance losses and loss adjustment expenses: |  |  |  |  |
Direct | $ | 1,574.2 |  |  | $ | 1,499.8 |  |  | $ | 1,479.6 |
Assumed | 939.5 |  |  | 1,000.6 |  |  | 1,134.5 |
Ceded | (833.7) |  |  | (807.1) |  |  | (773.3) |
Net insurance losses and loss adjustment expenses | $ | 1,680.0 |  |  | $ | 1,693.3 |  |  | $ | 1,840.8 |
The effect of ceded reinsurance on premiums written, premiums earned and insurance losses and loss adjustment expenses for the six months ended June 30, 2023 and 2022 was as follows:
| Six Months Ended June 30,
| 2023 |  | 2022
| ($ in millions)
Premiums written: |  |  |
Insurance | $ | 1,249.5 |  |  | $ | 1,305.7 |
Reinsurance | 875.7 |  |  | 1,045.6 |
Ceded | (774.7) |  |  | (845.2) |
Net premiums written | $ | 1,350.5 |  |  | $ | 1,506.1 |
Premiums earned: |  |  |
Insurance | $ | 1,203.6 |  |  | $ | 1,171.5 |
Reinsurance | 755.7 |  |  | 776.9 |
Ceded | (671.9) |  |  | (621.2) |
Net premiums earned | $ | 1,287.4 |  |  | $ | 1,327.2 |
Insurance losses and loss adjustment expenses: |  |  |
Insurance | $ | 691.7 |  |  | $ | 719.2 |
Reinsurance | 353.4 |  |  | 402.4 |
Ceded | (328.0) |  |  | (353.9) |
Net insurance losses and loss adjustment expenses | $ | 717.1 |  |  | $ | 767.7 |

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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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- References No definition available. + Details
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