Revenue and segment operating income (loss) for each segment were as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, 2025 | | (in millions) | | Casualty Lines | | Specialty Lines | | Run-off Lines | | Total | | Net earned premiums | | $ | 144.1 | | | $ | 61.0 | | | $ | 4.9 | | | $ | 210.0 | | | Net investment income | | 30.6 | | | 4.6 | | | 23.9 | | | 59.1 | | | Total segment revenues | | 174.7 | | | 65.6 | | | 28.8 | | | 269.1 | | | Reconciliation of revenue | | | | | | | | | | Net investment and other gains (losses) | | | | | | | | 9.7 | | | Total consolidated revenues | | | | | | | | 278.8 | | | Less: | | | | | | | | | | Losses and loss adjustment expenses | | 90.8 | | | 46.3 | | | 11.0 | | | | | Underwriting, acquisition and general expenses | | 44.9 | | | 17.6 | | | 2.0 | | | | Other segment items (1) | | 4.4 | | | 0.7 | | | 3.5 | | | | | Segment operating income (loss) | | 34.6 | | | 1.0 | | | 12.3 | | | 47.9 | | | Reconciliation of profit or loss | | | | | | | | | | Unallocated amounts: | | | | | | | | | | Non-operating expenses | | | | | | | | 5.6 | | | Foreign currency exchange (gains) losses | | | | | | | | (2.6) | | | Net investment and other (gains) losses | | | | | | | | (9.7) | | Total other expenses (2) | | | | | | | | 16.1 | | | Income (loss) before income taxes | | | | | | | | $ | 38.5 | |
(1) Includes interest expense and fee and other expense (income), net. (2) Includes amortization of value of business acquired and other intangible assets related to purchase accounting of $9.9 million. | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, 2024 | | (in millions) | | Casualty Lines | | Specialty Lines | | Run-off Lines | | Total | | Net earned premiums | | $ | 136.5 | | | $ | 66.7 | | | $ | 110.5 | | | $ | 313.7 | | | Net investment income | | 26.9 | | | 7.1 | | | 24.8 | | | 58.8 | | | Total segment revenues | | 163.4 | | | 73.8 | | | 135.3 | | | 372.5 | | | Reconciliation of revenue | | | | | | | | | | Net investment and other gains (losses) | | | | | | | | 6.2 | | | Total consolidated revenues | | | | | | | | 378.7 | | | Less: | | | | | | | | | | Losses and loss adjustment expenses | | 85.9 | | | 42.3 | | | 91.8 | | | | | Underwriting, acquisition and general expenses | | 30.2 | | | 11.9 | | | 30.2 | | | | Other segment items (1) | | 4.0 | | | 1.0 | | | 3.7 | | | | | Segment operating income (loss) | | 43.3 | | | 18.6 | | | 9.6 | | | 71.5 | | | Reconciliation of profit or loss | | | | | | | | | | Unallocated amounts: | | | | | | | | | | Non-operating expenses | | | | | | | | 7.7 | | | Foreign currency exchange (gains) losses | | | | | | | | (2.0) | | | Net investment and other (gains) losses | | | | | | | | (6.2) | | Total other expenses (2) | | | | | | | | 44.8 | | | Income (loss) before income taxes | | | | | | | | $ | 27.2 | |
(1) Includes interest expense and fee and other expense (income), net. (2) Includes amortization of value of business acquired and other intangible assets related to purchase accounting of $42.9 million.
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