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Derivatives (Tables) | 3 Months Ended
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Mar. 31, 2025
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Schedule of Derivative Instruments | The following table summarizes information on the classification and amount of the fair value of derivatives not designated as hedging instruments within the Company's consolidated balance sheets as of March 31, 2025 and December 31, 2024:
|  | March 31, 2025 |  | December 31, 2024
Derivatives not designated as hedging instruments |  | Derivative assets at fair value(1) |  | Derivative liabilities at fair value(2) |  | Notional Value |  | Derivative assets at fair value(1) |  | Derivative liabilities at fair value(2) |  | Notional Value
Foreign currency forwards |  | $ | 27.8 |  |  | $ | 0.9 |  |  | $ | 843.8 |  |  | $ | 0.9 |  |  | $ | 3.3 |  |  | $ | 768.6 |
Weather derivatives |  | — |  |  | — |  |  | — |  |  | — |  |  | 5.6 |  |  | 3.7 |
Interest rate swaps |  | — |  |  | — |  |  | 29.8 |  |  | — |  |  | — |  |  | 29.8 |
Credit default swap |  | — |  |  | 0.2 |  |  | 55.9 |  |  | — |  |  | 0.5 |  |  | 49.1 |
Reinsurance contracts accounted for as derivatives |  | $ | — |  |  | $ | 5.0 |  |  | $ | 74.7 |  |  | $ | — |  |  | $ | 4.9 |  |  | $ | 100.1 |
(1)Derivative assets are classified within Other assets in the Company’s consolidated balance sheets. (2)Derivative liabilities are classified within Other liabilities in the Company’s consolidated balance sheets.
Schedule of Net Impact on Earnings Relating to Derivatives | The following table summarizes information on the classification and net impact on earnings, recognized in the Company’s consolidated statements of income relating to derivatives during the three months ended March 31, 2025 and 2024:
Derivatives not designated as hedging instruments |  | Classification of gains (losses) recognized in earnings |  | 2025 |  | 2024 |  |  |  |  |
Foreign currency forwards |  | Foreign exchange gains |  | $ | 40.8 |  |  | $ | (17.4) |  |  |  |  |  |
Weather derivatives |  | Other revenues |  | 0.3 |  |  | (1.5) |  |  |  |  |  |
Interest rate swaps |  | Net realized and unrealized investment gains (losses) |  | (0.2) |  |  | 1.3 |  |  |  |  |  |
Reinsurance contracts accounted for as derivatives |  | Other revenues |  | $ | — |  |  | $ | (4.8) |  |  |  |  |  |

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- Definition Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4E -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4E Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4A -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4A + Details
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- Definition Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 815 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1A -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1B Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-8 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4B -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4B Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-1 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-5 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 815 -SubTopic 10 -Section 50 -Paragraph 4C -Publisher FASB -URI https://asc.fasb.org/1943274/2147480434/815-10-50-4C + Details
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