v3.26.1
Segment Reporting - Schedule of Segment Reporting Information (Details)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
USD ($)
Jun. 30, 2025
USD ($)
Jun. 30, 2026
USD ($)
segment
Jun. 30, 2025
USD ($)
Segment Reporting [Line Items]        
Number of reportable segments | segment     2  
Gross premiums written $ 831,041 $ 712,026 $ 1,771,152 $ 1,555,332
Net premiums written 621,695 556,314 1,275,355 1,160,189
Net premiums earned 586,007 511,163 1,156,522 1,010,091
Third party fee income 3,904 5,014 10,655 9,676
Losses and loss adjustment expenses 361,489 269,928 686,274 665,163
Acquisition costs 145,423 122,815 289,929 239,696
Other underwriting expenses 53,887 55,975 104,279 105,709
Underwriting income (loss) 29,112 67,459 86,695 9,199
Net realized and unrealized gains (losses) on investments 227,856 208,034 378,933 456,828
Net investment income (loss) 24,440 21,067 50,469 39,994
Net foreign exchange gains (losses) (2,629) (4,513) 1,905 (7,039)
Corporate expenses (13,044) (12,853) (24,116) (25,821)
Amortization of intangible assets (3,700) (4,004) (7,720) (7,895)
Interest expense (4,762) (4,729) (9,538) (10,331)
Income (loss) before income tax 257,273 270,461 476,628 454,935
Income tax (expense) benefit (2,470) (2,675) (4,793) (5,882)
Net income (loss) 254,803 267,786 471,835 449,053
Net income (loss) attributable to non-controlling interest 111,021 80,371 194,515 180,765
Net income (loss) and other comprehensive income (loss) attributable to common shareholders $ 143,782 $ 187,415 $ 277,320 $ 268,288
Attritional loss ratio - current year 53.30% 53.00% 53.90% 52.50%
Attritional loss ratio - prior year development (0.10%) (0.50%) 1.10% (1.70%)
Catastrophe loss ratio - current year 7.80% 1.90% 4.00% 16.80%
Catastrophe loss ratio - prior year development 0.70% (1.60%) 0.30% (1.70%)
Loss and loss adjustment expense ratio 61.70% 52.80% 59.30% 65.90%
Acquisition cost ratio 24.80% 24.00% 25.10% 23.70%
Other underwriting expense ratio 8.50% 10.00% 8.10% 9.50%
Combined ratio 95.00% 86.80% 92.50% 99.10%
Operating Segments | International        
Segment Reporting [Line Items]        
Gross premiums written $ 420,073 $ 344,799 $ 862,982 $ 714,757
Net premiums written 322,843 258,089 610,280 487,063
Net premiums earned 302,623 253,209 593,414 493,775
Third party fee income 1,820 3,832 4,367 8,164
Losses and loss adjustment expenses 174,274 124,733 338,129 270,405
Acquisition costs 80,287 65,683 161,491 128,473
Other underwriting expenses 40,758 39,507 82,057 75,130
Underwriting income (loss) $ 9,124 $ 27,118 $ 16,104 $ 27,931
Attritional loss ratio - current year 51.10% 51.90% 53.00% 52.00%
Attritional loss ratio - prior year development (4.60%) (3.00%) (1.70%) (3.30%)
Catastrophe loss ratio - current year 11.10% 0.60% 5.70% 6.20%
Catastrophe loss ratio - prior year development 0.00% (0.20%) 0.00% (0.10%)
Loss and loss adjustment expense ratio 57.60% 49.30% 57.00% 54.80%
Acquisition cost ratio 26.50% 25.90% 27.20% 26.00%
Other underwriting expense ratio 12.90% 14.10% 13.10% 13.60%
Combined ratio 97.00% 89.30% 97.30% 94.40%
Operating Segments | Bermuda        
Segment Reporting [Line Items]        
Gross premiums written $ 410,968 $ 367,227 $ 908,170 $ 840,575
Net premiums written 298,852 298,225 665,075 673,126
Net premiums earned 283,384 257,954 563,108 516,316
Third party fee income 2,084 1,182 6,288 1,512
Losses and loss adjustment expenses 187,215 145,195 348,145 394,758
Acquisition costs 65,136 57,132 128,438 111,223
Other underwriting expenses 13,129 16,468 22,222 30,579
Underwriting income (loss) $ 19,988 $ 40,341 $ 70,591 $ (18,732)
Attritional loss ratio - current year 55.70% 54.20% 54.90% 53.00%
Attritional loss ratio - prior year development 4.60% 2.00% 4.10% (0.10%)
Catastrophe loss ratio - current year 4.30% 3.20% 2.10% 26.90%
Catastrophe loss ratio - prior year development 1.50% (3.10%) 0.70% (3.30%)
Loss and loss adjustment expense ratio 66.10% 56.30% 61.80% 76.50%
Acquisition cost ratio 23.00% 22.10% 22.80% 21.50%
Other underwriting expense ratio 3.90% 5.90% 2.80% 5.60%
Combined ratio 93.00% 84.30% 87.40% 103.60%
Corporate        
Segment Reporting [Line Items]        
Gross premiums written $ 0 $ 0 $ 0 $ 0
Net premiums written 0 0 0 0
Net premiums earned 0 0 0 0
Third party fee income 0 0 0 0
Losses and loss adjustment expenses 0 0 0 0
Acquisition costs 0 0 0 0
Other underwriting expenses 0 0 0 0
Underwriting income (loss) 0 0 0 0
Net realized and unrealized gains (losses) on investments 227,856 208,034 378,933 456,828
Net investment income (loss) 24,440 21,067 50,469 39,994
Net foreign exchange gains (losses) (2,629) (4,513) 1,905 (7,039)
Corporate expenses (13,044) (12,853) (24,116) (25,821)
Amortization of intangible assets (3,700) (4,004) (7,720) (7,895)
Interest expense (4,762) (4,729) (9,538) (10,331)
Income tax (expense) benefit (2,470) (2,675) (4,793) (5,882)
Net income (loss) attributable to non-controlling interest $ 111,021 $ 80,371 $ 194,515 $ 180,765