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Loss and loss adjustment expense reserves (Tables) | 3 Months Ended
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Mar. 31, 2025
Insurance [Abstract] |
Schedule of Loss and Loss Adjustment Expense Reserves | The following table represents the activity in the loss and loss adjustment expense reserves for the three months ended March 31, 2025 and 2024:
| 2025 |  | 2024
Gross reserves for loss and loss adjustment expenses, beginning of period | $ | 5,653.9 |  |  | $ | 5,608.1 |
Less: loss and loss adjustment expenses recoverable, beginning of period | (2,315.3) |  |  | (2,295.1) |
Less: deferred gains on retroactive reinsurance contracts | 8.5 |  |  | 27.5 |
Net reserves for loss and loss adjustment expenses, beginning of period | 3,347.1 |  |  | 3,340.5 |
Increase (decrease) in net loss and loss adjustment expenses incurred in respect of losses occurring in: |  |  |
Current year | 436.0 |  |  | 356.4 |
Prior years | (34.2) |  |  | (38.9) |
Total incurred loss and loss adjustment expenses | 401.8 |  |  | 317.5 |
Net loss and loss adjustment expenses paid in respect of losses occurring in: |  |  |
Current year | (123.6) |  |  | (44.0) |
Prior years | (201.9) |  |  | (272.8) |
Total net paid losses | (325.5) |  |  | (316.8) |
Foreign currency translation | 10.1 |  |  | 15.8 |
Net reserves for loss and loss adjustment expenses, end of period | 3,433.5 |  |  | 3,357.0 |
Plus: loss and loss adjustment expenses recoverable, end of period | 2,335.7 |  |  | 2,233.8 |
Plus: deferred gains on retroactive reinsurance (1) | (6.6) |  |  | (25.5) |
Gross reserves for loss and loss adjustment expenses, end of period | $ | 5,762.6 |  |  | $ | 5,565.3 |
(1)Deferred charges on retroactive reinsurance are recorded in Other assets on the Company’s consolidated balance sheets. Deferred gains on retroactive reinsurance are presented as a separate line item on the Company’s consolidated balance sheets.

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- Definition Tabular disclosure of the activity in the reserve for settling insured claims and expenses incurred in the claims settlement process for the period. The estimated liability includes the amount of money that will be required for future payments of (a) claims that have been reported to the insurer, (b) claims related to insured events that have occurred but that have not been reported to the insurer as of the date the liability is estimated, and (c) claim adjustment expenses. Claim adjustment expenses include costs incurred in the claim settlement process such as legal fees; outside adjuster fees; and costs to record, process, and adjust claims. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480081/944-40-50-3 + Details
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