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v3.25.1

Debt and letter of credit facilities (Tables) | 3 Months Ended
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Mar. 31, 2025
Debt Disclosure [Abstract] |
Schedule of Debt Obligations | The following table represents a summar y of the Company’s debt obl igations on its consolidated balance sheets as of March 31, 2025 and December 31, 2024:
|  | March 31, 2025 |  | December 31, 2024
|  | Amount |  | Effective rate (1) |  | Amount |  | Effective rate (1)
2024 Senior Notes, at face value |  | $ | 400.0 |  |  | 7.4 | % |  | $ | 400.0 |  |  | 7.4 | %
Unamortized discount and issuance costs |  | (4.9) |  |  |  |  | (5.2) |  |  |
2024 Senior Notes, carrying value |  | 395.1 |  |  |  |  | 394.8 |  |  |
2017 SEK Subordinated Notes, at face value |  | 273.7 |  |  | 7.1 | % |  | 249.2 |  |  | 7.9 | %
Unamortized discount |  | (5.3) |  |  |  |  | (4.9) |  |  |
2017 SEK Subordinated Notes, carrying value |  | 268.4 |  |  |  |  | 244.3 |  |  |
Total debt |  | $ | 663.5 |  |  |  |  | $ | 639.1 |  |  |
(1)Effective rate considers the effect of the debt issuance costs, discount, and premium.
Schedule of Letter of Credit Facilities | As of March 31, 2025, the Company had entered into the following letter of credit facilities:
| Letters of Credit |  | Collateral
| Committed Capacity |  | Issued |  | Cash and Cash Equivalents |  | Debt securities
Committed - Secured letters of credit facilities | $ | 355.0 |  |  | $ | 253.2 |  |  | $ | 13.4 |  |  | $ | 242.1 |
Uncommitted - Secured letters of credit facilities | n/a |  | 877.6 |  |  | 9.7 |  |  | 1,065.2 |
|  |  | $ | 1,130.8 |  |  | $ | 23.1 |  |  | $ | 1,307.3 |

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- Definition Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69B -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69B Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69E -Publisher FASB -URI https://asc.fasb.org/1943274/2147481568/470-20-55-69E Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-3 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477734/942-470-50-3 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-8 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-6 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-7 + Details
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- Definition Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(19)(b)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
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