Loss and loss adjustment expense reserves (Tables)

3 Months Ended

Mar. 31, 2025

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.