Audit Information |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Auditor infomation [Abstract] | |
| Auditor Name | Ernst & Young Ltd. |
| Auditor Firm ID | 1127 |
| Auditor Location | Hamilton |
CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands |
Dec. 31, 2025 |
Dec. 31, 2024 |
||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Investments: | ||||||||||||||||
| Fixed income securities, available-for-sale | [1] | $ 5,013,400 | $ 4,692,200 | |||||||||||||
| Fixed income securities, trading | [1] | 1,040,200 | 1,199,900 | |||||||||||||
| Short-term investments, available for sale | 45,400 | 261,900 | ||||||||||||||
| Short-term investments, trading at fair value | 0 | 1,000 | ||||||||||||||
| Catastrophe bonds, trading at fair value (amortized cost — 2025: $0.0 and 2024: $1.0) | 0 | 1,000 | ||||||||||||||
| Privately-held Investments, available for sale, at fair value | [2] | 50,500 | 24,200 | |||||||||||||
| Privately-held Investments | [2] | 121,800 | 286,800 | |||||||||||||
| Equity investments, trading | 8,100 | 0 | ||||||||||||||
| Investments, equity method | 9,600 | 7,300 | ||||||||||||||
| Other Investments | [3] | 279,600 | 267,200 | |||||||||||||
| Investments, Excluding Derivative Assets | 6,568,600 | 6,741,500 | ||||||||||||||
| Reinsurance recoverables: | ||||||||||||||||
| Cash and Cash Equivalent | [4] | 1,658,800 | 914,200 | |||||||||||||
| Unpaid losses recoverable from reinsurers (net of allowance for expected credit losses of 2025: $16.2 and 2024: $27.5) | 4,281,900 | 4,172,000 | ||||||||||||||
| Ceded unearned premiums | 968,600 | 901,700 | ||||||||||||||
| Receivables: | ||||||||||||||||
| Premiums Receivable, Net | [5] | 1,700,800 | 1,617,000 | |||||||||||||
| Deferred acquisition costs | 357,200 | 322,100 | ||||||||||||||
| Derivative assets | 5,000 | 17,000 | ||||||||||||||
| Right-of-use operating lease assets | 43,400 | 53,500 | ||||||||||||||
| Income taxes refundable | 2,500 | 900 | ||||||||||||||
| Deferred tax assets | 342,500 | 397,900 | ||||||||||||||
| Other assets | 360,400 | 590,800 | ||||||||||||||
| Intangible assets and goodwill | 19,900 | 19,900 | ||||||||||||||
| Total assets | 16,309,600 | 15,748,500 | ||||||||||||||
| Insurance Reserve [Abstract] | ||||||||||||||||
| Liability for Claims and Claims Adjustment Expense | [5] | 8,725,000 | 8,122,600 | |||||||||||||
| Unearned Premiums | [5] | 2,725,800 | 2,645,800 | |||||||||||||
| Total insurance reserves | 11,450,800 | 10,768,400 | ||||||||||||||
| Reinsurance premiums | 520,300 | 901,100 | ||||||||||||||
| Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract] | ||||||||||||||||
| Income taxes payable | 18,700 | 6,800 | ||||||||||||||
| Deferred tax liabilities | 4,000 | 1,100 | ||||||||||||||
| Accrued expenses and other payables | [6] | 317,100 | 237,200 | |||||||||||||
| Payables for securities purchased | 0 | 36,900 | ||||||||||||||
| Operating lease liabilities | 64,700 | 75,600 | ||||||||||||||
| Derivative liabilities | 12,100 | 49,500 | ||||||||||||||
| Short-Term Debt | 296,800 | 300,000 | ||||||||||||||
| Total liabilities | 12,684,500 | 12,376,600 | ||||||||||||||
| Commitments and contingent liabilities | ||||||||||||||||
| Common Stock, Number of Shares, Par Value and Other Disclosure [Abstract] | ||||||||||||||||
| Ordinary shares, value | [7] | 92 | 91 | |||||||||||||
| Preference shares, value | 699,900 | 970,500 | ||||||||||||||
| Additional paid-in capital (7) | [7] | 803,400 | 761,700 | |||||||||||||
| Retained earnings | 2,320,000 | 2,029,700 | ||||||||||||||
| Accumulated other comprehensive (loss) | (198,300) | (390,100) | ||||||||||||||
| Total shareholders' equity | 3,625,100 | 3,371,900 | ||||||||||||||
| Total liabilities and shareholders’ equity | $ 16,309,600 | $ 15,748,500 | ||||||||||||||
| ||||||||||||||||
CONSOLIDATED STATEMENTS OF OPERATIONS AND OTHER COMPREHENSIVE INCOME - USD ($) $ in Millions |
12 Months Ended | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
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| Revenues | ||||||||||||||
| Net premiums earned | [1] | $ 2,831.9 | $ 2,889.7 | $ 2,614.5 | ||||||||||
| Net Investment Income | 326.3 | [2] | 318.0 | 275.7 | ||||||||||
| Gain (loss) on investments | 61.4 | 52.6 | 75.9 | |||||||||||
| Total revenues | 3,219.6 | 3,260.3 | 2,966.1 | |||||||||||
| Expenses | ||||||||||||||
| Losses and loss adjustment expenses | [1] | (1,546.7) | (1,717.8) | (1,553.0) | ||||||||||
| Acquisition costs | (422.4) | (420.2) | (380.2) | |||||||||||
| General, administrative and corporate expenses | [3] | (671.4) | (533.1) | (503.6) | ||||||||||
| Interest expense | (31.7) | (62.1) | (55.2) | |||||||||||
| Change in fair value of derivatives | 47.5 | (21.1) | 26.1 | |||||||||||
| Realized and unrealized investment losses (3) | [4] | (72.3) | (102.1) | (61.4) | ||||||||||
| Net realized and unrealized foreign exchange losses | (78.5) | 60.2 | (36.2) | |||||||||||
| Total expenses | (2,775.5) | (2,796.2) | (2,563.5) | |||||||||||
| Income from operations before income taxes | 444.1 | 464.1 | 402.6 | |||||||||||
| Income tax (expense)/benefit | (103.9) | 22.0 | 132.1 | |||||||||||
| Net income | 340.2 | 486.1 | 534.7 | |||||||||||
| Other Comprehensive Income: | ||||||||||||||
| Reclassification adjustment for net realized losses on investments included in net income | 43.0 | 59.4 | 40.2 | |||||||||||
| Change in net unrealized gains/(losses) on available for sale securities held | 128.0 | (25.3) | 86.0 | |||||||||||
| Net change from current period hedged transactions | 6.7 | (6.5) | (14.0) | |||||||||||
| Change in foreign currency translation adjustment | 51.6 | (14.1) | 14.4 | |||||||||||
| Other comprehensive income, before income taxes | 229.3 | 13.5 | 126.6 | |||||||||||
| Income tax (expense)/benefit thereon: | ||||||||||||||
| Reclassification adjustment for net realized losses on investments included in net income | (8.7) | (11.5) | (6.6) | |||||||||||
| Change in net unrealized (gains)/losses on available for sale securities held | (25.4) | 6.8 | (14.0) | |||||||||||
| Net change from current period hedged transactions | (1.6) | 1.4 | 0.0 | |||||||||||
| Change in foreign currency translation adjustment | (1.8) | 0.0 | 0.0 | |||||||||||
| Total income tax (expense) allocated to other comprehensive income | (37.5) | (3.3) | (20.6) | |||||||||||
| Other comprehensive income, net of tax | 191.8 | 10.2 | 106.0 | |||||||||||
| Total comprehensive income attributable to Aspen Insurance Holdings Limited | 532.0 | 496.3 | 640.7 | |||||||||||
| Preference share dividends | (45.5) | (54.9) | (49.9) | |||||||||||
| Net income (loss) available to ordinary shareholders, basic | $ 290.3 | $ 431.2 | $ 484.8 | |||||||||||
| Basic earnings per ordinary share (5) | [5] | $ 3.18 | $ 4.75 | $ 5.34 | ||||||||||
| Diluted earnings per ordinary share (5) | [5] | $ 3.17 | $ 4.75 | $ 5.34 | ||||||||||
| Preference shares | Retained earnings | ||||||||||||||
| Income tax (expense)/benefit thereon: | ||||||||||||||
| Preference share redemption costs | $ (4.4) | $ 0.0 | $ 0.0 | |||||||||||
| ||||||||||||||
CONSOLIDATED STATEMENTS OF OPERATIONS AND OTHER COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Millions |
12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
||||||||
| Net premiums earned | [1] | $ 2,831.9 | $ 2,889.7 | $ 2,614.5 | ||||||
| Policyholder Benefits and Claims Incurred, Net | [1] | 1,546.7 | 1,717.8 | 1,553.0 | ||||||
| Net Investment Income | 326.3 | [2] | 318.0 | 275.7 | ||||||
| Realized and unrealized investment losses (3) | [3] | (72.3) | (102.1) | (61.4) | ||||||
| General and administrative expenses | 492.0 | 405.9 | 354.5 | |||||||
| Management Consulting Agreement | ||||||||||
| General and administrative expenses | 1.8 | 5.0 | 5.0 | |||||||
| Asset Management Arrangement | ||||||||||
| Net Investment Income | 6.4 | 9.2 | 9.4 | |||||||
| Apollo, Class A & B Notes | ||||||||||
| Realized and unrealized investment losses (3) | (1.7) | 2.5 | 8.7 | |||||||
| Management Consulting Agreement | ||||||||||
| Net Investment Income | 13.6 | $ 15.2 | $ 19.6 | |||||||
| Apollo and Subsidiaries | ||||||||||
| Net premiums earned | 5.9 | |||||||||
| Policyholder Benefits and Claims Incurred, Net | $ 3.7 | |||||||||
| ||||||||||
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($) |
Total |
Ordinary shares |
[1] | Preference shares |
Additional paid-in capital (1) |
Retained earnings |
Retained earnings
Ordinary shares
|
Retained earnings
Preference shares
|
Cumulative foreign currency translation adjustments: |
Unrealized (depreciation)/appreciation on available for sale investments: |
Gain on derivatives, net of taxes |
Net change from current period hedged transactions, net of income tax |
||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||||||||||||||||||
| Equity, Including Portion Attributable to Noncontrolling Interest | $ 100,000 | $ 753,500,000 | [2] | $ 761,700,000 | [1] | $ 1,349,000,000 | $ (186,900,000) | $ (333,200,000) | $ 13,800,000 | |||||||||||
| Preference shares redeemed | 0 | |||||||||||||||||||
| Shares issued | 0 | |||||||||||||||||||
| Share-based compensation | 0 | |||||||||||||||||||
| Net income/(loss) for the year | $ 534,700,000 | |||||||||||||||||||
| Dividends | $ (40,300,000) | |||||||||||||||||||
| Dividends on preference shares | 49,900,000 | |||||||||||||||||||
| Preference share redemption costs | $ 0 | |||||||||||||||||||
| Change for the year, net of income taxes | 105,600,000 | 14,400,000 | 105,600,000 | |||||||||||||||||
| Net change from current period hedged transactions | $ (14,000,000.0) | |||||||||||||||||||
| Equity, Including Portion Attributable to Noncontrolling Interest | 2,908,500,000 | 100,000 | 753,500,000 | [2],[3] | 761,700,000 | [1] | 1,793,500,000 | (172,500,000) | (227,600,000) | (200,000) | ||||||||||
| Total accumulated other comprehensive (loss)/income | (400,300,000) | |||||||||||||||||||
| Preference shares redeemed | 0 | |||||||||||||||||||
| Shares issued | 217,000,000.0 | |||||||||||||||||||
| Share-based compensation | 0 | |||||||||||||||||||
| Net income/(loss) for the year | 486,100,000 | |||||||||||||||||||
| Dividends | (195,000,000.0) | |||||||||||||||||||
| Dividends on preference shares | 54,900,000 | |||||||||||||||||||
| Preference share redemption costs | 0 | |||||||||||||||||||
| Change for the year, net of income taxes | 29,400,000 | (14,100,000) | 29,400,000 | |||||||||||||||||
| Net change from current period hedged transactions | (5,100,000) | |||||||||||||||||||
| Equity, Including Portion Attributable to Noncontrolling Interest | 3,371,900,000 | 100,000 | 970,500,000 | [2],[3] | 761,700,000 | [1] | 2,029,700,000 | (186,600,000) | (198,200,000) | (5,300,000) | ||||||||||
| Total accumulated other comprehensive (loss)/income | (390,100,000) | |||||||||||||||||||
| Preference shares redeemed | (270,600,000) | |||||||||||||||||||
| Shares issued | 0 | |||||||||||||||||||
| Share-based compensation | 41,700,000 | |||||||||||||||||||
| Net income/(loss) for the year | 340,200,000 | |||||||||||||||||||
| Dividends | (45,451,400) | $ 0 | ||||||||||||||||||
| Dividends on preference shares | 45,500,000 | |||||||||||||||||||
| Preference share redemption costs | $ (4,400,000) | |||||||||||||||||||
| Change for the year, net of income taxes | 136,900,000 | 49,800,000 | 136,900,000 | |||||||||||||||||
| Net change from current period hedged transactions | $ 5,100,000 | |||||||||||||||||||
| Equity, Including Portion Attributable to Noncontrolling Interest | 3,625,100,000 | $ 100,000 | $ 699,900,000 | [3] | $ 803,400,000 | [1] | $ 2,320,000,000 | $ (136,800,000) | $ (61,300,000) | $ (200,000) | ||||||||||
| Total accumulated other comprehensive (loss)/income | $ (198,300,000) | |||||||||||||||||||
| ||||||||||||||||||||
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY (Parenthetical) - USD ($) $ in Millions |
12 Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|
Jan. 01, 2025 |
Nov. 29, 2024 |
May 02, 2013 |
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
Jan. 02, 2025 |
Nov. 26, 2024 |
Aug. 13, 2019 |
|
| Aggregate Liquidation Preference Shares | $ 725.0 | $ 1,000.0 | $ 775.0 | ||||||
| Preferred Stock Issuance Cost | $ 25.1 | $ 29.5 | $ 21.5 | ||||||
| Preference shares liquidation preference, value | $ 225.0 | $ 250.0 | |||||||
| 5.950% Preference Shares (AHL PRC) | |||||||||
| Preferred Stock Issuance Cost | $ 4.4 | ||||||||
| Preference shares liquidation preference, value | $ 275.0 | $ 275.0 | |||||||
| Preferred Stock, Dividend Rate, Percentage | 5.95% | 5.95% | 5.95% | 5.95% | 5.95% | ||||
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions |
12 Months Ended | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|||||||||
| Cash flows from operating activities: | |||||||||||
| Net income/(loss) | $ 340.2 | $ 486.1 | $ 534.7 | ||||||||
| Adjustments to reconcile net income to net cash flows from operating activities: | |||||||||||
| Depreciation and amortization | 7.9 | (1.0) | 11.0 | ||||||||
| Replacement awards and share-based compensation | 41.7 | 0.0 | 0.0 | ||||||||
| Amortization of right-of-use operating lease assets | 10.1 | 9.9 | 10.7 | ||||||||
| Interest on operating lease liabilities | 3.6 | 4.1 | 4.5 | ||||||||
| Realized and unrealized investment gains | (61.4) | (52.6) | (75.9) | ||||||||
| Realized and unrealized investment losses | [1] | 72.3 | 102.1 | 61.4 | |||||||
| Deferred tax expense/(benefit) | 22.3 | (88.6) | (197.7) | ||||||||
| Net realized and unrealized investment foreign exchange (gains)/losses | (7.9) | 11.2 | (5.3) | ||||||||
| Net change from current period hedged transactions | 6.7 | (6.5) | (14.0) | ||||||||
| Unrealized (gain)/loss on real estate fund in net investment income | 5.8 | 6.1 | 17.9 | ||||||||
| Adjustment to Reconcile Net Income to Cash Provided by (Used in) Operating Activity, Increase (Decrease) in Operating Capital [Abstract] | |||||||||||
| Reserve for losses and loss adjustment expenses | 602.4 | 312.0 | 99.7 | ||||||||
| Unearned premiums | 80.0 | 219.5 | (31.2) | ||||||||
| Unpaid losses recoverable from reinsurers | (109.9) | 405.8 | 319.9 | ||||||||
| Ceded unearned premiums | (66.9) | (168.2) | 3.8 | ||||||||
| Deferred acquisition costs | (35.1) | (25.9) | 22.8 | ||||||||
| Reinsurance premiums payable | (380.8) | (515.5) | (563.5) | ||||||||
| Underwriting premiums receivable | (83.8) | (181.7) | 47.1 | ||||||||
| Income tax payable and refundable | 8.8 | (3.0) | 3.5 | ||||||||
| Accrued expenses and other payables | 79.9 | 22.4 | 13.2 | ||||||||
| Derivative assets and derivative liabilities | (25.4) | 38.4 | 15.4 | ||||||||
| Operating lease liabilities | (15.7) | (15.9) | (15.5) | ||||||||
| Other (1) | (55.8) | (3.8) | 62.2 | ||||||||
| Net cash provided by operating activities | 439.0 | 554.9 | 324.7 | ||||||||
| Cash flows from investing activities: | |||||||||||
| (Purchases) of fixed income securities — Available for sale | (2,604.4) | (2,468.5) | (1,554.8) | ||||||||
| (Purchases) of fixed income securities — Trading | (436.8) | (544.6) | (418.5) | ||||||||
| Proceeds from sales and maturities of fixed income securities — Available for sale | 2,481.6 | 1,872.7 | 1,326.7 | ||||||||
| Proceeds from sales and maturities of fixed income securities — Trading | 623.0 | 850.1 | 474.0 | ||||||||
| Net proceeds from catastrophe bonds — Trading | 1.0 | 0.5 | 1.5 | ||||||||
| (Purchases) of short-term investments — Available for sale | (216.2) | (334.7) | (265.9) | ||||||||
| Proceeds from sales and maturities of short-term investments — Available for sale | 437.9 | 167.0 | 231.0 | ||||||||
| (Purchases) of short-term investments — Trading | (20.5) | (5.7) | (15.1) | ||||||||
| Proceeds from sales and maturities of short-term investments — Trading | 21.7 | 6.7 | 19.5 | ||||||||
| (Purchases) of privately-held investments — Available for sale | (33.7) | (10.0) | (14.7) | ||||||||
| (Purchases) of privately-held investments — Trading | (78.0) | (57.0) | (99.0) | ||||||||
| Proceeds from sale of privately-held investments — Trading | 243.3 | 195.4 | 136.9 | ||||||||
| Payments to acquire equity investments | (48.2) | 0.0 | 0.0 | ||||||||
| Proceeds from sales of equity investments | 42.2 | 0.0 | 0.0 | ||||||||
| Net change in (payable)/receivable for securities (purchased)/sold | (36.9) | 16.8 | 19.9 | ||||||||
| (Purchases) of other investments | (39.5) | (32.5) | (9.3) | ||||||||
| Proceeds from sales of other investments | 21.4 | 8.5 | 4.9 | ||||||||
| Net (purchases) of fixed assets | 18.1 | 17.5 | 8.9 | ||||||||
| Net (purchases) of investments, equity method | 0.0 | 0.0 | (0.4) | ||||||||
| Net cash provided by/(used in) investing activities | 339.8 | (352.8) | (172.2) | ||||||||
| Cash flows from financing activities: | |||||||||||
| Repayments of Short-Term Debt | 0.0 | 0.0 | (300.0) | ||||||||
| Proceeds from term loan facility | 0.0 | 0.0 | 300.0 | ||||||||
| Repayment of term loan facility | (300.0) | 0.0 | 0.0 | ||||||||
| Proceeds from senior notes issued | 296.8 | 0.0 | 0.0 | ||||||||
| Redemption of preference shares (1) | 0.0 | [2] | (275.0) | 0.0 | |||||||
| Preference share issuance | 0.0 | 217.0 | 0.0 | ||||||||
| Payments of Ordinary Dividends, Common Stock | 0.0 | 195.0 | 40.3 | ||||||||
| Dividends paid on preference shares | (45.5) | (54.9) | (49.9) | ||||||||
| Net cash (used in) financing activities | (48.7) | (307.9) | (90.2) | ||||||||
| Effect of exchange rate movements on cash and cash equivalents | 14.5 | (8.1) | 6.6 | ||||||||
| Increase/(decrease) in cash and cash equivalents | 744.6 | (113.9) | 68.9 | ||||||||
| Cash and cash equivalents at beginning of period | 914.2 | [3] | 1,028.1 | [3] | 959.2 | ||||||
| Cash and cash equivalents at end of period (2) | [3] | 1,658.8 | 914.2 | 1,028.1 | |||||||
| Supplemental disclosure of cash flow information: | |||||||||||
| Income taxes paid | 71.8 | 69.0 | 60.9 | ||||||||
| Interest paid on long-term debt | $ 17.4 | $ 20.5 | $ 15.6 | ||||||||
| |||||||||||
CONSOLIDATED STATEMENTS OF CASH FLOWS (Parentheticals) - USD ($) $ in Millions |
12 Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|
Jan. 01, 2025 |
Nov. 29, 2024 |
May 02, 2013 |
Dec. 31, 2025 |
Dec. 31, 2024 |
Jan. 02, 2025 |
Nov. 26, 2024 |
Dec. 31, 2023 |
Aug. 13, 2019 |
|
| Restricted cash | $ 130.6 | $ 181.9 | $ 323.2 | ||||||
| Preference shares liquidation preference, value | $ (225.0) | $ (250.0) | |||||||
| 5.950% Preference Shares (AHL PRC) | |||||||||
| Preferred Stock, Shares Issued | 11,000,000,000,000 | 0 | 11,000,000 | ||||||
| Preferred Stock, Dividend Rate, Percentage | 5.95% | 5.95% | 5.95% | 5.95% | 5.95% | ||||
| Preference shares liquidation preference, value | $ (275.0) | $ (275.0) | |||||||
History, Organization and Business Combination |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Accounting Policies [Abstract] | |
| History, Organization and Business Combination | History, Organization and Business Combination Aspen Insurance Holdings Limited (“Aspen Holdings”) was incorporated as a Bermuda exempted company on May 23, 2002 as a holding company headquartered in Bermuda. We underwrite specialty insurance and reinsurance on a global basis through our Operating Subsidiaries (as defined below) based in Bermuda, the United States and the United Kingdom: Aspen Bermuda Limited (“Aspen Bermuda”), Aspen Specialty Insurance Company (“Aspen Specialty”), Aspen American Insurance Company (“AAIC”), Aspen Insurance UK Limited (“Aspen UK”) and Aspen Underwriting Limited (“AUL”) (as the sole corporate member of our Lloyd’s operations, Syndicate 4711, which is managed by Aspen Managing Agency Limited (“AMAL”) (together, “Aspen Lloyd’s”)), each referred to herein as an “Operating Subsidiary” and collectively referred to as the “Operating Subsidiaries”, as well as through branch operations in Canada, Singapore and Switzerland. We established Aspen Capital Management, Ltd. (“ACML”) and other related entities (collectively, “ACM”) to leverage our existing underwriting franchise, increase our operational flexibility and provide third-party investors direct access to our capital markets and underwriting expertise. References to the “Company,” the “Group,” “we,” “us” or “our” refer to Aspen Holdings or Aspen Holdings and its consolidated subsidiaries. From February 2019 until May 2025, the Company was a wholly-owned subsidiary of Highlands Bermuda Holdco, Ltd., which held all of the Company’s issued and outstanding Class A ordinary shares, par value $0.001 per share (the “Ordinary Shares”) and is an affiliate of certain investment funds managed by affiliates of Apollo Global Management, Inc., a leading global investment manager (collectively with its subsidiaries, “Apollo”). Immediately prior to the Company’s initial public offering in May 2025 (“IPO”), Highlands Bermuda Holdco, Ltd. distributed all of the Company’s issued and outstanding Ordinary Shares to AP Highlands Holdings, L.P., a Cayman exempted limited partnership, and AP Highlands Co-Invest, L.P., a Cayman exempted limited partnership (together, the “Apollo Shareholders”), as well as certain other individuals. The Apollo Shareholders are each an affiliate of certain investment funds managed by affiliates of Apollo. In May 2025, the Company completed its IPO of 13,250,000 of its Ordinary Shares. The Ordinary Shares began trading on the New York Stock Exchange (“NYSE”) on May 8, 2025. Subsequent to the closing of the IPO, the underwriters exercised in full the option to purchase up to an additional 1,987,500 of the Company’s Ordinary Shares. The shares sold in the IPO were sold by the Apollo Shareholders, and the Company did not receive any of the proceeds from the sale of the Ordinary Shares by the Apollo Shareholders. Following the completion of these matters, the Apollo Shareholders collectively beneficially own approximately 82.1% of the Company’s Ordinary Shares. On August 27, 2025, Aspen Insurance Holdings Limited (“Aspen”) entered into a definitive Agreement and Plan of Merger (the “Merger Agreement”) under which Aspen was to be acquired by a wholly owned indirect subsidiary of Sompo Holdings, Inc. (“Sompo”), a leading global provider of commercial and consumer property and casualty (re)insurance. The Merger Agreement is by and among Aspen, Endurance Specialty Insurance Ltd., a Bermuda exempted company limited by shares and a wholly-owned indirect subsidiary of Sompo (“Parent”), and Ajax Ltd., a Bermuda exempted company limited by shares and a wholly owned subsidiary of Parent (“Merger Sub”). On February 24, 2026 (the “Effective Time”), Merger Sub merged with and into Aspen, with Aspen surviving such merger (the “Merger”, and such surviving company, the “Surviving Company”) as a wholly-owned subsidiary of Parent and indirect subsidiary of Sompo. As from the Effective Time, the issued Class A Ordinary Shares, par value $0.001, of Aspen were automatically converted into the right to receive an amount in cash equal to US$37.50 per share, without interest. In addition, each issued (a) 5.625% Perpetual Non-Cumulative Preference Share (the “5.625% PRD Preference Shares”), (b) Depositary Share, each representing a 1/1000th interest in a share of 5.625% Perpetual Non-Cumulative Preference Share (the “ 5.625% PRE Preference Shares”) and (c) Depositary Share, each representing a 1/1000th interest in a share of 7.000% Perpetual Non-Cumulative Preference Shares (the “7.000% PRF Preference Shares” and, collectively with the 5.625% PRD Preference Shares and the 5.625% PRE Preference Shares, the “Preference Shares”) of Aspen by virtue of the Merger and without any action on the part of the holder thereof, were automatically converted into a fully paid preference share of the Surviving Company, in each case, entitled to the same dividend and all other preferences and privileges, rights, qualifications, limitations, and restrictions set forth in the applicable certificate of designations of each Preference Share, which such certificate of designation remaining at and following the Effective Time in full force and effect. As from the Effective Time, each issued share of Merger Sub was converted into a common share, par value $1.00, of the Surviving Company. Following the Effective Time, the Company’s Ordinary Shares were delisted from The New York Stock Exchange and deregistered under the Securities Exchange Act of 1934, as amended. The Company remains subject to certain applicable reporting requirements of the Securities Exchange Act of 1934, as amended, as a result of its Preference Shares continuing to be listed on the NYSE. Accordingly, the Company expects to continue filing annual reports on Form 20-F with the U.S. Securities and Exchange Commission. The Company may from time to time seek to redeem or repurchase and/or delist the Preference Shares. As at the date of this report, the Company’s Ordinary Shares and the Preference Shares are listed on the NYSE under the following ticker symbols: AHL, AHL PRD, AHL PRE and AHL PRF, respectively.
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Basis of Preparation and Significant Accounting Policies |
12 Months Ended |
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Dec. 31, 2025 | |
| Accounting Policies [Abstract] | |
| Basis of Preparation and Significant Accounting Policies | Basis of Presentation and Significant Accounting Policies The consolidated financial statements of Aspen Holdings are prepared in accordance with United States Generally Accepted Accounting Principles (“U.S. GAAP”) and are presented on a consolidated basis including the transactions of all operating subsidiaries in which the Company has a controlling financial interest and variable interest entities (“VIE”) in which the Company is considered to be the primary beneficiary. Transactions between Aspen Holdings and its subsidiaries are eliminated within the consolidated financial statements. The consolidated financial statements have been prepared on a going concern basis. (a) Use of Estimates Assumptions and estimates made by management have a significant effect on the amounts reported within the consolidated financial statements. The most significant of these relate to losses and loss adjustment expenses, reinsurance recoverables, gross written premiums and commissions which have not been reported to the Company such as those relating to proportional treaty reinsurance contracts, unrecognized tax benefits, recoverability of deferred tax assets, the fair value of derivatives and the fair value of other and privately-held investments. All material assumptions and estimates are regularly reviewed and adjustments made as necessary but actual results could be significantly different from those expected when the assumptions or estimates were made. (b) Accounting for Insurance and Reinsurance Operations Premiums Earned. Premiums are generally recorded as written on the inception date of a policy. For proportional reinsurance treaty contracts, written premiums are generally recorded as the reinsured policies attach to the treaty. For multi-year insurance or reinsurance contracts, written premiums are recorded based on the contract terms. Premiums are recognized as revenues proportionately over the coverage period. Premiums earned are recorded in the consolidated statements of operations, net of the cost of purchased reinsurance. Premiums written which are not yet recognized as earned premium are recorded in the consolidated balance sheet as unearned premiums. Written and earned premiums and the related costs include estimates for premiums which have not been finally determined. These relate mainly to contractual provisions for the payment of adjustment or additional premiums, premiums payable under proportional treaties and delegated underwriting authorities, and reinstatement premiums. Adjustment and additional premiums are premiums charged which relate to experience during the policy term. The proportion of adjustable premiums included in the premium estimates varies between business lines with the largest adjustment premiums being in property and casualty reinsurance, marine, aviation and energy insurance and the smallest in property and casualty insurance. Premiums under proportional treaty contracts and delegated underwriting authorities are generally not reported to the Company until after the reinsurance coverage is in force. As a result, an estimate of these “pipeline” premiums is recorded. The Company estimates pipeline premiums based on projections of ultimate premium taking into account reported premiums and expected development patterns. Reinstatement premiums on assumed excess of loss reinsurance contracts are provided based on experience under such contracts. Reinstatement premiums are the premiums charged for the restoration of the reinsurance limit of an excess of loss contract to its full amount after payment by the reinsurer of losses as a result of an occurrence. The original premiums are recognized as revenue in full at the date of loss, with the reinstatement premiums recognized as revenue over the remaining cover term. Reinstatement premiums provide future insurance cover for the remainder of the initial policy term. Credit Losses on Underwriting Premiums Receivable. Underwriting premium receivable balances are reported net of an allowance for expected credit losses. The allowance, based on ongoing review and monitoring of amounts outstanding, historical loss data, including write-offs and other current economic factors, is charged to net income in the period the receivable is recorded and revised in subsequent periods to reflect changes in the Company’s estimate of expected credit losses. For most insurance policies, credit risk is partially mitigated by the Company’s ability to cancel the policy if the policyholder does not pay the premium whereby, upon default, policy liabilities would be written-down along with premium receivables. Losses and Loss Adjustment Expenses. Losses represent the amount paid or expected to be paid to claimants in respect of events that have occurred on or before the balance sheet date. The costs of investigating, resolving and processing these claims are known as loss adjustment expenses (“LAE”). The consolidated statements of operations records these losses net of reinsurance, meaning that gross losses and loss adjustment expenses incurred are reduced by the amounts recovered or expected to be recovered under reinsurance contracts. Reinsurance. Written premiums, earned premiums, incurred claims, LAE and the acquisition costs all reflect the net effect of assumed and ceded reinsurance transactions. Assumed reinsurance refers to the Company’s acceptance of certain insurance risks that other insurance companies have underwritten. Ceded reinsurance arises from contracts under which other insurance companies agree to share certain risks with the Company. Reinsurance accounting is followed when there is risk transfer, which includes significant timing risk, underwriting risk, and where applicable, a reasonable possibility of significant loss. Outward reinsurance premiums, which are paid when the Company purchases reinsurance or retrocessional coverage, are accounted for using the same accounting methodology as the Company uses for inwards premiums. Premiums payable under reinsurance contracts that operate on a “losses occurring during” basis are expensed over the period of coverage while those arising from “risks attaching during” policies are expensed over the earnings period of the underlying premiums written from the reinsured business. Adjustment premiums and reinstatement premiums in relation to outward reinsurance are accrued when it is determined that the ultimate losses will trigger a payment and recognized within premiums payable. Reinsurance and retrocession does not isolate the ceding company from its obligations to policyholders. In the event that a reinsurer or retrocessionaire fails to meet its obligations, the ceding company’s obligations remain. Accounting for Retroactive Reinsurance Agreements. Retroactive reinsurance agreements are reinsurance agreements under which a reinsurer agrees to reimburse the Company as a result of past insurable events. For retroactive reinsurance purchased by the Company, the excess of the amounts ultimately collectible under the agreement over the consideration paid is recognized as a deferred gain liability which is amortized into income over the settlement period of the ceded reserves once the paid losses have exceeded the minimum retention. The amount of the deferral is recalculated each period based on actual loss payments and updated estimates of ultimate losses. If the consideration paid exceeds the ultimate losses collectible under the agreement, the net loss on the retroactive reinsurance agreement is recognized within income immediately. Premiums payable for retroactive reinsurance coverage and meeting the conditions of reinsurance accounting are reported as reinsurance recoverables to the extent that those amounts do not exceed recorded liabilities relating to underlying reinsurance contracts. Premiums paid in excess of accounts receivable are charged to income. Reserves. Insurance reserves are established for the total unpaid cost of claims and LAE in respect of events that have occurred by the balance sheet date, including the Company’s estimates of the total cost of claims incurred but not yet reported (“IBNR”). Claim reserves are reduced for estimated amounts of salvage and subrogation recoveries. Estimated amounts recoverable from reinsurers on unpaid losses and LAE are reflected as assets. For reported claims, reserves are established on a case-by-case basis within the parameters of coverage provided in the insurance policy or reinsurance agreement. For IBNR claims, reserves are estimated using a number of established actuarial methods to establish a range of estimates from which a management best estimate is selected. Both case and IBNR reserve estimates consider variables such as past loss experience, changes in legislative conditions, changes in judicial interpretation of legal liability, policy coverages and inflation. As many of the coverages underwritten involve claims that may not be ultimately settled for many years after they are incurred, subjective judgments as to the ultimate exposure to losses are an integral and necessary component of the loss reserving process. The Company regularly reviews its reserves, using a variety of statistical and actuarial techniques to analyze current claims costs, frequency and severity data, and prevailing economic, social and legal factors. Reserves established in prior periods are adjusted as claim experience develops and new information becomes available. Adjustments to previously estimated reserves are reflected in the financial results of the period in which the adjustments are made. The process of estimating required reserves does, by its very nature, involve considerable uncertainty. The level of uncertainty can be influenced by factors such as the existence of coverage with long duration payment patterns and changes in claims handling practices, as well as the factors noted above. Ultimate actual payments for claims and LAE could turn out to be significantly different from the Company’s estimates. Credit Losses on Reinsurance Recoverables. Amounts recoverable from reinsurers are estimated in a manner consistent with the claim liability with the reinsured business. The Company maintains credit risk if a reinsurer is unable to pay recoverables when they become due. To manage this risk, the Company evaluates the financial condition of its reinsurers and retrocessionaires, and monitors concentration of credit risk to minimize its exposure to significant losses from individual reinsurers. To further reduce credit exposure on reinsurance recoverables, the Company has received collateral, including letters of credit and trust accounts, from certain reinsurers. Following the adoption of ASC 326, an allowance is established for expected credit losses to be recognized over the life of the reinsurance recoverable. The allowance considers the current financial strength of the individual reinsurer and the amount of collateral held. Acquisition Costs. The costs directly related to writing a (re)insurance policy are referred to as acquisition expenses and include commissions, premium taxes and profit commissions. With the exception of profit commissions, these expenses are incurred when a policy is issued, and only the costs directly related to the successful acquisition of new and renewal insurance and reinsurance contracts are deferred and amortized over the same period as the corresponding premiums are recorded as revenues. Profit commissions are estimated and accrued based on the related performance criteria evaluated at the balance sheet date, with subsequent changes to those estimates recognized when they occur. Commissions received related to reinsurance premiums ceded are netted against broker commissions in determining acquisition costs eligible for deferral. On a regular basis a premium deficiency analysis is performed of the deferred acquisition costs in relation to the expected recognition of revenues, including anticipated investment income, and adjustments, if any, are reflected as period costs. Should the analysis indicate that the acquisition costs are unrecoverable, further analyses are performed to determine if a reserve is required to provide for losses which may exceed the related unearned premium. General and Administrative Expenses. These costs represent the expenses incurred in running the business and include, but are not limited to compensation costs for employees, rental costs, IT development and professional and consultancy fees. General and administrative costs directly attributable to the successful acquisition of business are deferred and amortized over the same period as the corresponding premiums are recorded as revenues. When reporting the results for its business segments, the Company includes expenses which are directly attributable to the segment plus an allocation of central administrative costs. Corporate Expenses. Corporate expenses are not allocated to the Company’s business segments as they typically do not fluctuate with the levels of premium written and are related to the Company’s operations which include group executive costs, group finance costs, group legal and actuarial costs and certain strategic and other costs. (c) Accounting for Investments, Cash and Cash Equivalents Fixed Income Securities. The fixed income securities portfolio comprises securities issued by governments and government agencies, corporate bonds, mortgage and other asset-backed securities and bank loans. Investments in fixed income securities are classified as available for sale or trading and are reported at estimated fair value in the consolidated balance sheet. Investment transactions are recorded on the trade date with balances pending settlement reflected in the consolidated balance sheet under receivables for securities sold and payables for securities purchased, respectively. Fair values are based on quoted market prices and other data provided by third-party pricing services. Short-term Investments. Short-term investments primarily comprise highly liquid debt securities with a maturity greater than three months but less than one year from the date of purchase and are held as part of the investment portfolio of the Company. Short-term investments are classified as either trading or available for sale and reported at estimated fair value. Catastrophe Bonds. Investments in catastrophe bonds are classified as trading and are reported on the consolidated balance sheet at estimated fair value. The fair values are based on independent broker-dealer quotes. Privately-held Investments. The Company’s privately-held investments primarily comprise commercial mortgage loans, middle market loans and other private debt, asset-backed securities and global corporate securities. These investments are classified as trading or available for sale and are reported on the consolidated balance sheet at estimated fair value. Privately-held investments are initially valued at cost or transaction value which approximates fair value. In subsequent measurement periods, the fair values of these securities are primarily determined using discounted cash flow models. Interest income is accrued on the principal amount of the loan based on its contractual interest rate subject to it being probable that we will receive interest on that particular underlying loan. Interest income, amortization of premiums and discounts, and prepayment fees are reported in net investment income on the consolidated statements of income. Investments, Equity Method. These investments represent the Company’s investments in partially owned insurance and related companies that are recorded using the equity method of accounting. The carrying value of these investments are based on the Company’s proportionate share of GAAP equity. Other Investments. Other investments represent the Company’s investments in investment funds that are reported at net asset value. For these investments, net asset value is used as a practical expedient for fair value. Cash and Cash Equivalents. Cash and cash equivalents are reported at fair value. Cash and cash equivalents comprise cash on hand, deposits held on call with banks and other short-term highly liquid investments due to mature within three months from the date of purchase and which are subject to insignificant risk of change in fair value. Gains and Losses. Realized gains or losses on the sale of investments are determined on the basis of the first in first out cost method and are recorded in revenue or expenses respectively. Unrealized gains and losses represent the difference between the cost, or the cost as adjusted by amortization of any difference between its cost and its redemption value (“amortized cost”), of the security and its fair value at the reporting date and are included within other comprehensive income for securities classified as available for sale and in realized and unrealized investment gains or losses in the consolidated statement of operations for securities classified as trading. Credit Losses on Available for Sale Debt Securities. An allowance account for credit losses is recognized for available for sale debt securities based on a review of individual securities. Write-offs are recorded when amounts are deemed uncollectible, or Aspen intends to sell (or more likely than not will be required to sell) the debt security before recovery of the amortized cost basis. The amortized cost basis will be written down to the debt securities fair value through earnings. Credit losses are limited to the difference between the debt securities amortized cost basis and fair value. Any decline in the debt securities fair value below the amortized cost basis that is not a result of a credit loss is recorded through other comprehensive income, net of applicable taxes. The allowance for credit losses of a security may be increased or reversed upon a change in credit position with the change reflected in net income. The credit loss models employ a discounted cash flow approach to evaluate whether a credit loss exists at the individual security level and are reviewed at each reporting period. This analysis excludes investments in U.S. Government / Agency bonds and U.S. Government Agency mortgage-backed securities due to being of ‘high credit quality’ based on the absence of risk. For any available for sale debt securities that were initially purchased with credit deterioration, the amortized cost basis shall be considered to be the purchase price, plus any allowance for credit losses. Estimated credit losses shall be discounted at the rate that equates the present value of the purchaser’s estimate of the security’s future cash flows with the purchase price of the asset. Net Investment Income. Investment income includes amounts received and accrued in respect of periodic interest (“coupons”) payable to the Company by the issuer of fixed income securities, equity dividends and interest credited on cash and cash equivalents. It also includes amortization of premium and accretion of discount in respect of fixed income securities. Investment income also includes changes in fair value from investments in real estate funds. Investment management and custody fees are charged against net investment income reported in the consolidated statement of operations. (d) Accounting for Derivative Financial Instruments The Company enters into derivative instruments to manage certain market risks, such as forward exchange contracts used to reduce foreign currency risk relative to the U.S. dollar. The Company records derivative instruments at fair value on the Company’s consolidated balance sheet as either assets or liabilities, depending on their rights and obligations. The accounting for the gain or loss due to the changes in the fair value of these instruments is dependent on whether the derivative qualifies as a hedge. If the derivative does not qualify as a hedge, the gains or losses are reported in the consolidated statement of operations when they occur and classified within Change in fair value of derivatives. If the derivative qualifies as a hedge, the accounting treatment varies based on the type of risk being hedged. There are two primary types of hedging relationships that may be used for accounting purposes: fair value hedge and cash flow hedge. A fair value hedge is designed to offset changes in the fair value of an underlying asset or liability, and the gain or loss from the hedging instrument offsets the change in fair value of the underlying asset or liability. Under fair value hedge accounting, both the gain or loss from the underlying asset or liability and the gain or loss from the hedging instrument are recognized in earnings in the same period. In contrast, a cash flow hedge is designed to offset changes in cash flows of an underlying asset or liability. The gain or loss from the hedging instrument is initially recognized in other comprehensive income. As the contracts settle, the realized gain or loss is reclassified from other comprehensive income into the consolidated statement of operations. The loss portfolio transfer contract included a funds withheld arrangement that provided a variable interest expense based on Aspen’s investment performance. As a result, this funds withheld arrangement was considered an embedded derivative and accounted for as an option-based derivative. Since the economic characteristics and risks of an embedded derivative feature are not clearly and closely related to the economic characteristics and risks of the host contract, the embedded derivative was bifurcated and accounted for separately at fair value. The Company records subsequent changes in the embedded derivative fair value in the consolidated statement of operations. (e) Accounting for Intangible Assets Intangible assets are held in the consolidated balance sheet at cost less amortization and impairment. Amortization applies on a straight-line basis in respect of assets having a finite estimated useful economic life. Finite intangibles are assessed on an annual basis for impairment, or more frequently where circumstances indicate the carrying value may not be recoverable. For intangible assets considered to have an indefinite life, the Company performs a qualitative assessment annually to determine whether it is more likely than not that an intangible asset is impaired. Goodwill is assessed annually for impairment or more frequently if circumstances indicate an impairment may have occurred. (f) Accounting for Office Properties and Equipment Office properties and equipment are reported at cost less accumulated depreciation. These assets are depreciated on a straight-line basis over the estimated useful lives of the assets. Computer equipment is depreciated between and five years, furniture and fittings are depreciated over four years and leasehold improvements are depreciated over the lesser of 15 years or the lease term. IT development costs that are directly associated with the development of identifiable and unique software products and that are anticipated to generate economic benefits exceeding costs beyond one year, are recognized within office properties and equipment. Costs include external consultants’ fees, certain qualifying internal staff costs and other costs incurred to develop software programs. Software is depreciated over their estimated useful life, between and five years, on a straight-line basis and is subject to impairment testing annually. Depreciation commences when the asset becomes operational. Other non-qualifying costs are expensed as incurred. (g) Accounting for Leases In the ordinary course of the business, the Company renews and enters into new leases for office real estate and other assets. At the lease inception date, the Company determines whether a contract contains a lease and recognizes operating lease Right-of-use assets and operating lease liabilities based on the present value of future minimum lease payments. As our leases do not provide an implicit interest rate, we use our incremental borrowing rate based on the information available at the commencement date to determine the present value of future payments. For all office real estate leases, rent incentives, including reduced-rent and rent-free periods and contractually agreed rent increases during the lease term, have been included when determining the present value of future cash flows. Right-of-use operating lease assets are reported at cost less accumulated depreciation on the consolidated balance sheet and depreciated over the lease term. The Company does not record office property and equipment leases with an initial term of 12 months or less (short-term) in the Company's consolidated balance sheets. Such short-term leases are expensed through the consolidated statement of operations. Right-of-use operating lease assets are tested for impairments whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the carrying value of an asset is impaired, it is reduced to the recoverable amount by an immediate charge to the income statement. The recoverable amount is the higher of an asset’s fair value less costs to sell and value in use. (h) Accounting for Foreign Currencies Translation The functional currency of the Company and its subsidiaries is the U.S. Dollar, which is also the Company’s reporting currency. Transactions in currencies other than the functional currency are measured at the exchange rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in non-functional currencies are remeasured at the exchange rate prevailing at the balance sheet date and any resulting foreign exchange gains or losses are reflected in the consolidated statement of operations. Foreign exchange gains or losses related to available for sale investments denominated in non-functional currencies are included within other comprehensive income. Non-monetary assets and liabilities are remeasured to functional currency at historic exchange rates. (i) Accounting for Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. When the Company does not believe that, on the basis of available information, it is more likely than not that deferred tax assets will be fully recovered, it recognizes a valuation allowance against its deferred tax assets to reduce the deferred tax assets to the amount more likely than not to be realized. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Furthermore, a tax benefit from a tax position may be recognized in the financial statements only if it is more-likely-than-not that the position is sustainable, based solely on its technical merits and consideration of the relevant tax authority’s widely understood administrative practices and precedents. The Company applies a portfolio approach to release the income tax effects in accumulated other comprehensive income. Under this approach, the income tax effects upon the sale of an available for sale debt security, settlement of hedged transactions and upon foreign currency translation adjustments for each period, are determined under the intra-period tax allocation approach. Any tax effects remaining in accumulated other comprehensive income are only released when the entire portfolio is liquidated, sold or extinguished. The Company has or will claim substance-based refundable tax credits it is eligible for in Bermuda. These refundable tax credits are generally based on a percentage of eligible expenditures related to compensation costs, other operating expenses and corporate expenses. The Company recognizes the benefit of refundable tax credits as reductions to the related expenses in the consolidated statement of operations in the period it is probable the conditions for receiving the refundable tax credit will be satisfied. (j) Accounting for Preference Shares The Company had at the balance sheet date in issue three classes of preference shares. The Company has no obligation to pay interest on these securities but they carry entitlements to dividends payable at the discretion of the Board of Directors. In the event of non-payment of dividends for six consecutive periods, holders of preference shares have director appointment rights. The preference shares are therefore accounted for as equity instruments and included within total shareholders’ equity. (k) Accounting for Share-Based Payments and Long-Term Incentive Plans The Company operates an employee long-term incentive plan, comprised of Performance Units and Exit Units, the terms and conditions of which are described in Note 17. The Company applies a fair-value based measurement method in calculating the compensation costs of Performance Units which are recognized on a straight-line basis over the vesting period. During 2023, selected senior employees were granted Management Equity Plan (“MEP”) stock options to acquire non-voting shares at a management equity vehicle affiliated with the Company at no cost to the employee. Upon completion of the Company’s IPO, the Company introduced the 2025 Equity and Incentive Plan which granted replacement awards in substitution for the MEP legacy share options. The Company issued incentive share options and restricted share units to certain eligible employees, directors and other service providers. The Company measures compensation expense for all share-based payment awards based on estimated fair values at the grant date. The fair value of stock options is estimated using the Black-Scholes option pricing model, which requires the input of subjective assumptions including expected volatility, expected term, risk-free interest rate, and dividend yield. Compensation expense is recognized over the period for which the employee, director or service provider is required to provide services in exchange for the award. The Company has elected to estimate expected forfeitures over the requisite service period. At the Effective Time, each outstanding and unexercised stock option award (a “Company Option Award”) that has an exercise price per Company Share less than the Merger Consideration will be canceled and converted into a contingent right to receive an amount in cash, without interest, equal to the product of (a) the amount by which the Merger Consideration exceeds the applicable per share exercise price of the Company Option Award and (b) the number of Company Shares subject to the Company Option Award (a “Restricted Option Award”), and each Company Option Award with an exercise price per Company Share equal to or greater than the Merger Consideration will be canceled for no consideration. Additionally, at the Effective Time, each outstanding restricted share unit award (a “Company RSU Award”) will be canceled and converted into a contingent right to receive an amount in cash, without interest, equal to the product of (x) the Merger Consideration and (y) the number of Company Shares subject to the Company RSU Award (together with the Restricted Option Awards, a “Restricted Cash Award”). Each Restricted Cash Award will continue to be subject to the same terms and conditions as the corresponding Company Option Award or Company RSU Award except that, (i) the vested portion of each Restricted Option Award will be paid within 15 days after the applicable vesting date, and (ii) if an individual’s employment or service is terminated by the Company or its affiliates without “cause” on or following the Effective Time, all Restricted Cash Awards then-held by such individual will vest in full and be paid within 60 days following the date of such individual’s termination of employment, subject to execution and non-revocation of a standard release of claims. (l) Accounting for Business Combinations The Company accounts for a transaction as a business combination where the assets acquired and liabilities assumed following a transaction constitute a business. An acquired entity must have inputs and processes that make it capable of generating a return or economic benefit to be considered a business. If the assets acquired are not a business, the Company accounts the transaction as an asset acquisition. The Company recognizes and measures at fair value 100 percent of the assets and liabilities of any acquired business. Goodwill is recognized and measured as the difference between the consideration paid or payable less the fair value of assets acquired. The Company accounts for the disposal of subsidiary undertakings when it ceases to control the subsidiary’s assets and liabilities or the group of assets. A gain or loss is recognized and measured as the difference between the fair value of consideration received or receivable and the value of assets, liabilities and equity components de-recognized, related to that subsidiary or group of assets when deconsolidated. Costs that are directly related to a business combination transaction are expensed in the periods in which the costs are incurred and the services are received. (m) Accounting Pronouncements Accounting Pronouncements Adopted In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740) – Improvements to Income Tax Disclosures”. The amendments in this Update provide additional transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. These amendments should be applied on a prospective basis, with the option to apply retrospectively. ASU 2023-09 became effective for the year ended December 31, 2025, and the required disclosures have been included within these consolidated financial statements on a prospective basis, where applicable. Accounting Pronouncements Not Yet Adopted In November 2024, the FASB issued ASU No. 2024-03, “Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses”. This ASU requires disclosure, in the notes to the financial statements, of specified information about certain costs and expenses. The amendments in this ASU are effective for annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027. As this guidance relates solely to financial statement disclosures, the adoption of ASU 2024-03 will have no impact upon the Company’s results of operations, financial condition, or liquidity. In September 2025, the FASB issued Accounting Standards Update (“ASU”) No. 2025-06, “Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software.” This ASU amends the accounting guidance for internal-use software to better reflect current development practices by (i) eliminating the requirement to assess software development stages, (ii) introducing a principles-based capitalization threshold, and (iii) consolidating website development cost guidance. The amendments in this ASU are effective for annual and interim periods beginning after December 15, 2027. The Company has evaluated the impact of ASU 2025-06 and determined that its adoption will not have a material impact on its consolidated financial statements. Other accounting pronouncements were issued during the year ended December 31, 2025 which were either not applicable to the Company or did not impact the Company’s consolidated financial statements.
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Segment Reporting |
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| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Segment Reporting | Segment Reporting The Company manages its underwriting operations as two business segments: Insurance and Reinsurance. The Company has determined its reportable segments by taking into account the manner in which the Company’s chief operating decision maker (“CODM”) makes operating and management decisions and assesses operating performance. As at December 31, 2025 and prior to the Merger, the Company’s CODM is the Group Executive Committee, which comprises global heads of key functions and other key business leads. Income or loss for each of the Company’s business segments is measured by underwriting income or loss. Underwriting income is the excess of net earned premiums over the sum of losses and loss expenses, acquisition costs and general and administrative expenses. Underwriting income or loss provides a basis for the CODM to evaluate the segment’s underwriting performance. Insurance Segment. The Insurance segment consists of first party insurance, specialty insurance, casualty and liability insurance, financial and professional lines insurance and other insurance. The other insurance business line includes Aspen Underwriting Limited’s participation as a corporate member in Carbon Syndicate 4747 and the Company’s digital follow capacity offered through the Ki Lloyd’s platform. Reinsurance Segment. The Reinsurance segment consists of property catastrophe reinsurance, other property reinsurance, casualty reinsurance and specialty reinsurance. Non-underwriting Disclosures. The Company provides additional disclosures for corporate and other (non-operating) income and expenses. Corporate and other income and expenses include: corporate expenses, non-operating expenses, net investment income, net realized and unrealized investment gains or losses, changes in fair value of derivatives, interest expenses, net realized and unrealized foreign exchange gains or losses, and income taxes. These income and expense items are not allocated to the Company’s business segments as they are not directly related to the Company’s business segment operations and this approach is consistent with how the CODM measures the performance of the business segments. The Company does not allocate its assets by business segment as we evaluate underwriting results of each segment separately from the results of our investment portfolio. The Company uses underwriting ratios as measures of performance. The loss ratio is the ratio of losses and loss adjustment expenses to net earned premiums. The acquisition cost ratio is the ratio of acquisition costs to net earned premiums. The general and administrative expense ratio is the ratio of general and administrative expenses to net earned premiums. The combined ratio is the sum of the loss ratio, the acquisition cost ratio and the general and administrative expense ratio. The following tables provide a summary of gross and net written and earned premiums, underwriting income or loss, ratios and reserves for each of the Company’s business segments for the twelve months ended December 31, 2025, 2024 and 2023:
_______________ (1) Non-operating expenses for the twelve months ended December 31, 2025 includes expenses in relation to replacement awards granted on the successful completion of the IPO, certain consulting fees, non-recurring transformation activities, and other non-recurring costs.
________________ (1) Non-operating expenses for the twelve months ended December 31, 2024 includes expenses in relation to consulting fees, non-recurring transformation program costs, and other non-recurring costs.
_______________ (1) Non-operating expenses for the twelve months ended December 31, 2023 includes expenses in relation to consulting fees, non-recurring transformation activities, and other non-recurring costs. Geographical Areas. The following summary presents the Company’s gross written premiums based on the location of the insured risk for the twelve months ended December 31, 2025, 2024 and 2023.
______________ (1) “United States & Canada” comprises individual policies that insure risks specifically in the United States and/or Canada, but not elsewhere. (2) “Worldwide excluding the United States” consists of individual policies that insure global risks with the specific exclusion of the United States. (3) “Worldwide including the United States” consists of individual policies that insure global risks with the specific inclusion of the United States. (4) “Other” comprises individual policies that insure risks in other countries including, but not limited to, countries in the Caribbean, South America and the Middle East.
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Investments |
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| Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Investments | Investments Income Statement Net Investment Income. The following table summarizes net investment income for the twelve months ended December 31, 2025, 2024 and 2023:
(1) Other investments primarily represent the Company’s investments in investment funds. The amount reported represents the change in fair value of the investment funds in the period. The following table summarizes the net realized and unrealized investment gains and losses recorded in the consolidated statement of operations and the change in unrealized gains and losses on investments recorded in other comprehensive income for the twelve months ended December 31, 2025, 2024 and 2023:
Balance Sheet Fixed Income Securities, Short-term Investments and Privately-held Investments — Available for Sale. The following tables present the cost or amortized cost, gross unrealized gains and losses, and estimated fair market value of available for sale investments in fixed income securities, short-term investments and privately-held investments as at December 31, 2025 and December 31, 2024:
Fixed Income Securities, Short-term Investments, Catastrophe Bonds and Privately-held Investments — Trading. The following tables present the cost or amortized cost, gross unrealized gains and losses, and estimated fair market value of trading investments in fixed income securities, short-term investments, catastrophe bonds and privately-held investments as at December 31, 2025 and December 31, 2024:
Catastrophe Bonds. The Company has no catastrophe bonds as at December 31, 2025 (December 31, 2024 — $1.0 million). The bonds were either zero-coupon notes or received quarterly interest payments based on variable interest rates. The catastrophe bonds matured during the year ended December 31, 2025. Privately-held Investments. The Company has invested in privately-held investments, which primarily include asset-backed securities of $83.8 million, commercial mortgage loans of $25.4 million, middle market loans and other private debt of $28.9 million and global corporate securities of $34.2 million as at December 31, 2025 (December 31, 2024 — asset-backed securities of $151.8 million; commercial mortgage loans of $79.7 million; middle market loans and other private debt of $61.0 million, global corporate securities of $18.5 million). Commercial Mortgage Loans. The commercial mortgage loans are related to investments in properties including apartments, hotels, office and retail buildings, other commercial properties and industrial properties. The commercial mortgage loan portfolio is diversified by property type, geographic region and issuer to reduce risks. As part of our investment process, we evaluate factors such as size, property type, and security to determine that properties are performing at a consistent and acceptable level to secure the related debt. Middle Market Loans and Other Private Debt. The middle market loans are investments in senior secured loan positions with full covenants, focused on the middle market in the U.S., Europe and the Caribbean. The other private debt consists of debt securities issued to private investment funds. The middle market loan and other private debt portfolio is diversified by industry type, geographic region and issuer to reduce risks. As part of our investment process, we evaluate factors such as size, industry and security to determine that loans are performing at a consistent and acceptable level to secure the related debt. Asset-backed Securities. Asset-backed securities represent interests in underlying pools of diversified referenced assets that are collateralized and backed by future cash flows and these securities are performing. Global Corporate Securities. The privately-held global corporate securities portfolio consists of debt securities issued by U.S. and foreign corporations. Investments, Equity Method. The Company has investments in partially owned insurance and related companies which are accounted for under the equity method. Adjustments to the carrying value of these investments are made based on the Company’s share of capital, including the Company’s share of income and expenses. The table below shows the Company’s equity method investments for the twelve months ended December 31, 2025 and 2024:
Other Investments. On December 20, 2017, the Company committed, and during 2018 invested, $100.0 million as a limited partner to a real estate fund. As at December 31, 2025, the fair value of the fund is $88.3 million (December 31, 2024 — $111.7 million). During 2020, the Company committed $10.5 million as a limited partner to a related party managed lending fund. The partnership was established to provide direct lending to large corporate borrowers. On April 1, 2021, the Company committed an additional $2.8 million to the fund. As at December 31, 2025, the fair value of the fund is $20.7 million (December 31, 2024 — $19.3 million) and the commitment has been fully funded (December 31, 2024 — unfunded commitment of $0.2 million). On April 1, 2021, the Company established pledge accounts with its custodian bank for the ability to obtain liquidity and funding services provided by a U.S. co-operative bank, which provides liquidity and funding to its insurance member institutions. As at December 31, 2025, the fair value of the Company’s member shares in the bank is $2.2 million (December 31, 2024 — $2.0 million). On September 30, 2021, the Company committed $20.0 million as a limited partner to a third-party managed real estate fund. The Partnership was established to make equity and equity related investments in multifamily and other commercial real estate properties located in the United States and its territories, with the goal of generating superior risk-adjusted returns. The partnership seeks to acquire commercial real estate assets including real estate assets (or interests therein) that may have management or operational problems and require improvements or lack sufficient capital, including mortgage loans and development or redevelopment properties. On April 1, 2022, the Company committed an additional $10.0 million to the fund. As at December 31, 2025, the fair value of the fund is $31.1 million (December 31, 2024 — $36.2 million) and the unfunded commitment is $0.9 million (December 31, 2024 — $0.9 million). On April 1, 2022, the Company committed $30.0 million as a limited partner to a related party managed real estate fund. The partnership was established to pursue investment opportunities to acquire, recapitalize, restructure and reposition real estate assets, portfolios and companies primarily in the United States. As at December 31, 2025, the fair value of the fund is $15.0 million (December 31, 2024 — $19.3 million) and the unfunded commitment is $3.7 million (December 31, 2024 — $3.7 million). On May 5, 2022, the Company committed $15.0 million as a limited partner to a third-party managed infrastructure fund. The partnership was established to make value added infrastructure investments in environmental services, transportation, communications and digital, energy/energy transition and other infrastructure sectors primarily in North America. As at December 31, 2025, the fair value of the fund is $15.5 million (December 31, 2024 — $12.9 million) and the unfunded commitment is $1.7 million (December 31, 2024 — $2.3 million). On August 31, 2023, the Company committed £7.0 million as a limited partner to a third-party managed debt fund. The fund focuses on three core sectors: health and social care, affordable housing, and social infrastructure. The fund invests across the U.K., focusing on areas of poverty and deprivation. Borrowers are established, socially impactful organizations, with a history of profitable revenue generation. As at December 31, 2025, the fair value of the fund is $1.6 million (December 31, 2024 — $0.1 million) and the unfunded commitment is £5.7 million (December 31, 2024 — £6.8 million). On September 30, 2023, the Company committed $55.0 million as a limited partner to a third-party managed energy fund. The fund invests in energy transition and climate solutions, accelerating growth and business transformation through flexible capital, enabling leading energy companies to build enterprises at scale that can deliver clean, reliable and affordable energy to help meet global needs. As at December 31, 2025 the fair value of the fund is $32.5 million and the unfunded commitment is $27.2 million. As at, December 31, 2024, the Company had not funded the investment and the unfunded commitment was $55.0 million. On August 1, 2024, the Company committed and invested $25.0 million as a limited partner to a third-party managed liquidity fund. The fund seeks to maximize total return, by investing in a portfolio of investment grade debt securities, both fixed and floating rate. As at December 31, 2025, the fair value of the fund is $27.0 million (December 31, 2024 — $25.7 million) and the unfunded commitment is $Nil (December 31, 2024 — $Nil). On October 31, 2024, the Company converted one of its commercial mortgage loan investments to an equity interest in a joint venture. As at December 31, 2025, the current carrying value of the investment is $43.2 million (December 31, 2024 — $40.0 million). This investment has no unfunded commitments. Another similar conversion occurred during July 2025, on a term loan investment which resulted in the Company acquiring an equity interest therein. As at December 31, 2025, the carrying value of the investment is $2.5 million. As at December 31, 2025, the aggregate fair value of the investment funds described above is $279.6 million (December 31, 2024 — $267.2 million). For further information on the investment funds, refer to Note 21(a) in these consolidated financial statements, “Commitments and Contingencies.” Equity Securities. As at December 31, 2025, the Company held investments in exchange-traded funds with a fair value of $8.1 million (December 31, 2024 — $Nil). Fixed Income Securities, Short-term Investments and Privately-held Investments — Available for Sale. The scheduled maturity distribution of the Company’s available for sale securities as at December 31, 2025 and December 31, 2024 is set forth below. Actual maturities may differ from contractual maturities because issuers of securities may have the right to call or prepay obligations with or without call or prepayment penalties.
Guaranteed Investments. As at December 31, 2025 and December 31, 2024, the Company held no investments which are guaranteed by mono-line insurers, excluding those with explicit government guarantees. The Company’s exposure to other third-party guaranteed debt is primarily to investments backed by non-U.S. government guaranteed issuers. Gross Unrealized Losses, Available for Sale. The following tables summarize, by type of security, the aggregate fair value and gross unrealized loss by length of time the security has been in an unrealized loss position for the Company’s available for sale portfolio as at December 31, 2025 and December 31, 2024:
At December 31, 2025, 606 available for sale securities were in an unrealized loss position of $58.2 million, of which $0.4 million was related to securities below investment grade or not rated. At December 31, 2024, 1,170 available for sale securities were in an unrealized loss position of $181.9 million, of which $0.3 million was related to securities below investment grade or not rated. The unrealized losses of $58.2 million at December 31, 2025 were due to non-credit factors and are expected to be recovered as the related securities approach maturity. The Company does not intend to sell the securities in an unrealized loss position and it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost bases.
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Variable Interest Entities |
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| Payables and Accruals [Abstract] | |
| Variable Interest Entities | Variable Interest Entities As at December 31, 2025, the Company held an investment in one (December 31, 2024 — one) variable interest entity (“VIE”), namely Peregrine Reinsurance Ltd (“Peregrine”). In November 2016, Peregrine, a subsidiary of the Company, was registered as a segregated accounts company under the Segregated Accounts Companies Act 2000, as amended. As at December 31, 2025, Peregrine had nine segregated accounts which were funded by third-party investors, which are not consolidated. The Company has determined that Peregrine has the characteristics of a VIE as addressed by the guidance in ASC 810, Consolidation. The nine segregated accounts have not been consolidated as part of the Company’s consolidated financial statements because the Company is not the primary beneficiary of those accounts. The Company has, however, concluded that it is the primary beneficiary of the Peregrine general fund and, similar to prior reporting periods, the results of the Peregrine general fund are included in the Company’s consolidated financial statements.
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Fair Value Measurements |
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| Fair Value Measurements | Fair Value Measurements The Company’s estimates of fair value for financial assets and liabilities are based on the framework established in the fair value accounting guidance included in ASC Topic 820, “Fair Value Measurements and Disclosures.” The framework prioritizes the inputs, which refer broadly to assumptions market participants would use in pricing an asset or liability, into three levels. The Company considers prices for actively traded securities to be derived based on quoted prices in an active market for identical assets, which are Level 1 inputs in the fair value hierarchy. The majority of these securities are valued using prices supplied by pricing services. The Company considers prices for other securities that may not be as actively traded which are priced via pricing services, vendors and broker-dealers, or with reference to interest rates and yield curves, to be derived based on inputs that are observable for the asset, either directly or indirectly, which are Level 2 inputs in the fair value hierarchy. The majority of these securities are also valued using prices supplied by pricing services. The Company considers securities, other financial instruments, privately-held investments and derivative insurance contracts subject to fair value measurement whose valuation is derived by valuation models to be based largely on unobservable inputs, which are Level 3 inputs in the fair value hierarchy. The following tables present the level within the fair value hierarchy at which the Company’s financial assets and liabilities are measured on a recurring basis as at December 31, 2025 and December 31, 2024:
______________ (1) The loss portfolio transfer contract included a funds withheld arrangement that provided variable interest expense based on Aspen’s investment performance. As a result, the funds withheld arrangement was considered an embedded derivative and accounted for as an option-based derivative. Transfers of assets into or out of a particular level are recorded at their fair values as of the end of each reporting period consistent with the date of the determination of fair value. During the twelve months ended December 31, 2025, $12.6 million was transferred out of Level 3 and $Nil transferred into Level 3 (December 31, 2024 — $Nil was transferred out of Level 3 and $Nil transferred into Level 3). The transfers out of Level 3, and into Level 2, was due to the availability of observable market inputs. The following table presents a reconciliation of the beginning and ending balances for all assets and liabilities measured at fair value on a recurring basis using Level 3 inputs for the twelve months ended December 31, 2025 and December 31, 2024:
______________ (1) Increases/(decreases) in the fair value of privately-held investments, trading are included in realized and unrealized investment losses in the consolidated statements of operations and other comprehensive income. Increases/(decreases) in the fair value of derivative liabilities - loss portfolio transfer are included within change in fair value of derivatives in the consolidated statements of operations and other comprehensive income. (2) Increases/(decreases) in the fair value of privately-held investments, available for sale are included in other comprehensive income (“OCI”). Valuation of Fixed Income Securities. The Company’s fixed income securities are classified as either available for sale or trading and are reported at fair value. As at December 31, 2025 and December 31, 2024, the Company’s fixed income securities were valued by pricing services or broker-dealers using standard market conventions. The market conventions utilize market quotations, market transactions in comparable instruments and various relationships between instruments including, but not limited to, yield to maturity, dollar prices and spread prices in determining fair value. Independent Pricing Services. The underlying methodology used to determine the fair value of securities in the Company’s available for sale and trading portfolios is by the pricing services. Pricing services will gather observable pricing inputs from multiple external sources, including buy and sell-side contacts and broker-dealers, in order to develop their internal prices. Pricing services provide pricing for less complex, liquid securities based on market quotations in active markets. Pricing services supply prices for a broad range of securities including those for actively traded securities, such as Treasury and other Government securities, in addition to those that trade less frequently or where valuation includes reference to credit spreads, pay down and pre-pay features and other observable inputs. These securities include Government agency, municipals, corporate and asset-backed securities. For securities that may trade less frequently or do not trade on a listed exchange, these pricing services may use matrix pricing consisting of observable market inputs to estimate the fair value of a security. These observable market inputs include reported trades, benchmark yields, broker-dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers, reference data, and industry and economic factors. Additionally, pricing services may use a valuation model such as an option adjusted spread model commonly used for estimating fair values of mortgage-backed and asset-backed securities. The Company does not derive dollar prices using an index as a pricing input for any individual security. Broker-Dealers. The Company obtains quotes from broker-dealers who are active in the corresponding markets when prices are unavailable from independent pricing services or index providers. Generally, broker-dealers value securities through their trading desks based on observable market inputs. Their pricing methodologies include mapping securities based on trade data, bids or offers, observed spreads and performance of newly issued securities. They may also establish pricing through observing secondary trading of similar securities. Quotes from broker-dealers are non-binding. The Company obtains prices for all of its fixed income investment securities via its third-party accounting service provider, and in the majority of cases receiving a number of quotes so as to obtain the most comprehensive information available to determine a security’s fair value. A single valuation is applied to each security based on the vendor hierarchy maintained by the Company’s third-party accounting service provider. As at December 31, 2025, the Company obtained an average of 2.8 quotes per fixed income investment compared to 3.0 quotes at December 31, 2024. The Company, in conjunction with its third-party accounting service provider, obtains an understanding of the methods, models and inputs used by the third-party pricing service and index providers to assess the ongoing appropriateness of vendors’ prices. The Company and its third-party accounting service provider also have controls in place to validate that amounts provided represent fair values. Processes to validate and review pricing include, but are not limited to: •quantitative analysis (e.g., comparing the quarterly return for each managed portfolio to its target benchmark, with significant differences identified and investigated); •comparison of market values obtained from pricing services and broker-dealers against alternative price sources for each security where further investigation is completed when significant differences exist for pricing of individual securities between pricing sources; •initial and ongoing evaluation of methodologies used by outside parties to calculate fair value; and •comparison of the fair value estimates to the Company’s knowledge of the current market. Prices obtained from pricing services and broker-dealers are not adjusted by us; however, prices provided by a pricing service, or broker-dealer in certain instances may be challenged based on market or information available from internal sources, including those available to the Company’s third-party investment accounting service provider. Subsequent to any challenge, revisions made by the pricing service or broker-dealer to the quotes are supplied to the Company’s investment accounting service provider. Management reviews the vendor hierarchy maintained by the Company’s third-party accounting service provider in order to determine which price source provides the most appropriate fair value (i.e., a price obtained from a pricing service with more seniority in the hierarchy will be used over a less senior one in all cases). The hierarchy level assigned to each security in the Company’s available for sale and trading portfolios is based upon its assessment of the transparency and reliability of the inputs used in the valuation as of the measurement date. The hierarchy of pricing services is determined using various qualitative and quantitative points arising from reviews of the vendors conducted by the Company’s third-party accounting service provider. Vendor reviews include annual due diligence meetings with index providers and pricing services vendors covering valuation methodology, operational walkthroughs and legal and compliance updates. Fixed Income Securities. Fixed income securities are traded on the over-the-counter (“OTC”) market based on prices provided by one or more market makers in each security. Securities such as U.S. Government, U.S. Agency, Non-U.S. Government and investment grade corporate bonds have multiple market makers in addition to readily observable market value indicators such as expected credit spread, except for Treasury securities, over the yield curve. The Company uses a variety of pricing sources to value fixed income securities including those securities that have pay down/prepay features such as mortgage-backed securities and asset-backed securities in order to ensure fair and accurate pricing. The fair value estimates for the investment grade securities in the Company’s portfolio do not use significant unobservable inputs or modeling techniques. U.S. Government and Agency Securities. U.S. government and agency securities consist primarily of bonds issued by the U.S. Treasury and corporate debt issued by agencies such as the Federal National Mortgage Association (“FNMA”), the Federal Home Loan Mortgage Corporation (“FHLMC”) and the Federal Home Loan Bank. As the fair values of U.S. Treasury securities are based on unadjusted market prices in active markets, they are classified within Level 1. The fair values of U.S. government agency securities are priced using the spread above the risk-free yield curve. As the yields for the risk-free yield curve and the spreads for these securities are observable market inputs, the fair values of U.S. government agency securities are classified within Level 2. Municipal Securities. The Company’s municipal portfolio consists of bonds issued by U.S. domiciled state and municipality entities. The fair value of these securities is determined using spreads obtained from broker-dealers, trade prices and the new issue market which are Level 2 inputs in the fair value hierarchy. Consequently, these securities are classified within Level 2. Non-U.S. Government. The issuers for securities in this category are non-U.S. governments and their agents including, but not limited to, the U.K., Australia, Canada, France and Germany. The fair values of certain non-U.S. government bonds, primarily sourced from international indices, are based on unadjusted market prices in active markets and are therefore classified within Level 1. The remaining non-U.S. government bonds are classified within Level 2 as they are not actively traded. The fair values of the non-U.S. agency securities, again primarily sourced from international indices, are priced using the spread above the risk-free yield curve. As the yields for the risk-free yield curve and the spreads for these securities are observable market inputs, the fair values of non-U.S. agency securities are classified within Level 2. In addition, foreign government securities include a portion of the Emerging Market Debt (“EMD”) portfolio which is also classified within Level 2. Corporate. Corporate securities consist primarily of short-term, medium-term and long-term debt issued by U.S. and foreign corporations covering a variety of industries and are generally priced by index providers and pricing vendors. Some issuers may participate in government programs which guarantee timely payment of principal and interest in the event of a default. The fair values of these securities are generally determined using the spread above the risk-free yield curve. Inputs used in the evaluation of these securities include credit data, interest rate data, market observations and sector news, broker-dealer quotes and trade volumes. In addition, corporate securities include a portion of the EMD portfolio. The Company classifies these securities within Level 2. Mortgage-backed Securities. Residential and commercial mortgage-backed securities consist of bonds issued by the Government National Mortgage Association, the FNMA and the FHLMC. The fair values of these securities are determined through the use of a pricing model (including Option Adjusted Spread) which uses prepayment speeds and spreads to determine the appropriate average life of the mortgage-backed security. These spreads are generally obtained from broker-dealers, trade prices and the new issue market. As the significant inputs used to price mortgage-backed securities are observable market inputs, these securities are classified within Level 2. Asset-backed Securities. Asset-backed securities are securities backed by notes or receivables against assets other than real estate. The underlying collateral for the Company’s asset-backed securities consists mainly of student loans, automobile loans and credit card receivables. These securities are primarily priced by index providers and pricing vendors. Inputs to the valuation process include broker-dealer quotes and other available trade information, prepayment speeds, interest rate data and credit spreads. The Company classifies these securities within Level 2. Short-term Investments. Short-term investments consist of highly liquid debt securities with a maturity greater than three months but less than one year from the date of purchase. Short-term investments are classified as either trading or available for sale according to the facts and circumstances of the investment held. Short-term investments are valued in a manner similar to the Company’s fixed maturity investments and are classified within Levels 1 and 2. Privately-held Investments. Privately-held investments are initially valued at cost or transaction value which approximates fair value. In subsequent measurement periods, the fair values of the majority of these securities are determined using discounted cash flow models. These models include inputs that are specific to each investment. The inputs used in the fair value measurements include dividend or interest rates and appropriate discount rates. The selection of an appropriate discount rate is judgmental and is the most significant unobservable input used in the valuation of these securities. A significant increase (decrease) in this input in isolation could result in significantly lower (higher) fair value measurement for privately-held investments. In order to assess the reasonableness of the inputs used in the discounted cash flow models, the Company maintains an understanding of current market conditions, issuer specific information that may impact future cash flows as well as collaboration with independent vendors for most securities to assess the reasonableness of the discount rate being used. Commercial Mortgage Loans. Commercial mortgage loans consist of investments in properties including apartments, hotels, office and retail buildings, other commercial properties and industrial properties. The commercial mortgage loan portfolio is diversified by property type, geographic region and issuer to reduce risks. Commercial Mortgage Loans are initially valued at cost or transaction value which approximates fair value. In subsequent measurement periods, the fair values of these securities are determined using discounted cash flow models and are classified as Level 3. Middle Market Loans and Other Private Debt. The middle market loans consist of investments in senior secured loan positions with full covenants, focused on the middle market in the U.S., Europe and the Caribbean. The other private debt consists of debt securities issued to private investment funds. The middle market loan and other private debt portfolio is diversified by industry type, geographic region and issuer to reduce risks. Middle market loans and other private debt are initially valued at cost or transaction value which approximates fair value. In subsequent measurement periods, the fair values of these securities are determined using discounted cash flow models. In the event that the cash flows are negative or indeterminable, the fair values of these securities are determined using the recovery approach. Consequently, these securities are classified within Level 3. Asset-backed Securities. Asset-backed securities represent interests in underlying pools of diversified referenced assets that are collateralized and backed by future cash flows and these securities are performing. Asset-backed securities are initially valued at cost or transaction value which approximates fair value. In subsequent measurement periods, the fair values of these securities are determined using discounted cash flow models and are classified within Level 3. Global Corporate Securities. The global corporate securities portfolio consists of debt securities issued by U.S. and foreign corporations. The global corporate securities are initially valued at cost or transaction value which approximates fair value. In subsequent measurement periods, the fair values of the trading securities are determined using discounted cash flow models and are classified within Level 3. In subsequent measurement periods, the fair values of the available-for-sale securities are determined using a matrix pricing methodology that applies a yield build-up approach. This approach starts with an appropriate interpolated U.S. Treasury yield and adds spread components for sector-specific credit quality, weighted average life, and issuer capital size. The resulting discount yield is then used in a discounted cash flow model to derive the price of each security. The Company classifies these securities within Level 3. Short-term Investments — Privately-held. Short-term investments which are classified as privately-held consist of debt securities with a maturity greater than three months but less than one year from the date of purchase. Short-term investments are initially valued at cost or transaction value which approximates fair value. In subsequent measurement periods, the fair values of these securities are determined using discounted cash flow models and are classified within Level 3. The following table summarizes the quantitative inputs and assumptions used for financial assets categorized within Level 3 under the fair value hierarchy as at December 31, 2025:
Catastrophe Bonds. Catastrophe bonds are variable rate fixed income instruments with redemption values adjusted based on the occurrence of a covered event, usually windstorms and earthquakes. Catastrophe bonds are classified as trading and reported at fair value. Catastrophe bonds are priced using an average of multiple broker-dealer quotes and as such, are classified within Level 2. Foreign Exchange Contracts. The foreign exchange contracts which the Company uses to mitigate currency risk are characterized as OTC due to their customized nature and the fact that they do not trade on a major exchange. These instruments trade in a very deep liquid market, providing substantial price transparency and accordingly are classified within Level 2. Derivative Liabilities - Loss Portfolio Transfer. The LPT embedded derivative is valued using the Black-Scholes model. The two primary inputs of this model are expected claim settlement patterns and expected return of the investment portfolio above a fixed minimum rate over the specified time horizon. The expected claim settlement pattern is determined on an actuarial basis for the cohort of business within scope of the LPT and is consistent with the patterns used in the valuation of technical provisions. The expected return of the investment portfolio, above a fixed minimum rate, directly impacts on the LPT derivative valuation and is subject to changes in the market conditions. In order to assess the reasonableness of the inputs, the Company updates the expected claim settlement patterns on a regular basis while maintaining an understanding of the current market conditions. The LPT embedded derivative is classified within Level 3. Other Investments. The Company’s other investments represent primarily our investments in investment funds operating strategies across real estate, infrastructure and direct lending. Adjustments to the fair values of the investment funds are made based on the net asset value of the investments. The net valuation criteria established by the manager of such investments are established in accordance with the governing documents and the asset manager’s valuation guidelines, which include: the discounted cash flows method and the performance multiple approach, which uses a multiple derived from market data of comparable companies or assets to produce operating performance metrics. Alternative valuation methodologies may be employed for investments with unusual characteristics. As the Company is measuring the fair value of these investment funds using the net asset value per share as a practical expedient, they have not been classified in the fair value hierarchy. Equity Securities. The fair values of the equity securities are based on unadjusted quoted market prices in active markets, and as such they are classified within Level 1.
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Reinsurance |
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| Reinsurance Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Reinsurance | Reinsurance The Company purchases retrocession and reinsurance to limit and diversify the Company’s risk exposure and to increase its own insurance and reinsurance underwriting capacity. These agreements provide for recovery of losses and loss adjustment expenses from reinsurers. The Company remains liable to the extent that reinsurers do not meet their obligations under these agreements. In line with its risk management objectives, the Company evaluates the financial condition of its reinsurers and monitors concentrations of credit risk. Balances pertaining to reinsurance transactions are reported “gross” on the consolidated balance sheet, meaning that reinsurance recoverable on unpaid losses and ceded unearned premiums are not deducted from insurance reserves but are recorded as assets. For more information on reinsurance recoverables, refer to Note 22, “Concentrations of Credit Risk — Reinsurance recoverables” and Note 10, “Reserve for Losses and Loss Adjustment Expenses” of these consolidated financial statements. The effect of assumed and ceded reinsurance on premiums written, premiums earned and losses and loss adjustment expenses for the twelve months ended December 31, 2025, 2024 and 2023 was as follows:
Current expected credit loss model (“CECL”). As at December 31, 2025, the Company’s allowance for expected credit losses on reinsurance recoverables was $16.2 million (2024 — $27.5 million). For the twelve months ended December 31, 2025 there was a $11.3 million decrease in the CECL allowance on reinsurance recoverables (2024 — $23.8 million increase, 2023 — no change). The Company is potentially exposed to concentrations of credit risk in respect of amounts recoverable from reinsurers, refer to Note 22, “Concentrations of Credit Risk — Reinsurance recoverables” of these consolidated financial statements for more detail.
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Derivative Contracts |
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| Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivative Contracts | Derivative Contracts The following table summarizes information on the location and amounts of derivative fair values on the consolidated balance sheet as at December 31, 2025 and 2024:
______________ (1) Fair value is net of $Nil of cash collateral (December 31, 2024 — $0.8 million). (2) The LPT contained an embedded derivative within the contract in relation to the variable interest crediting rate, which has now terminated upon repayment of the funds withheld.
______________ (1) Fair value is net of $Nil of cash collateral (December 31, 2024 — $2.0 million). The following table provides the unrealized and realized gains/(losses) recorded in the consolidated statements of operations and other comprehensive income for derivatives that are not designated or designated as hedging instruments under ASC 815 — “Derivatives and Hedging” for the twelve months ended December 31, 2025 and 2024:
Foreign Exchange Contracts. The Company uses foreign exchange contracts to manage foreign currency risk associated with our operating expenses but also foreign exchange risk associated with net assets or liabilities in currencies other than the U.S. dollar. A foreign exchange contract involves an obligation to purchase or sell a specified currency at a future date at a price set at the time of the contract. Foreign exchange contracts will not eliminate fluctuations in the value of the Company’s assets and liabilities denominated in foreign currencies but rather allow it to establish a rate of exchange for a future point in time. As at December 31, 2025, the Company held foreign exchange contracts that were not designated as hedges under ASC 815 with an aggregate notional amount of $1,404.0 million (2024 — $1,586.9 million). The foreign exchange contracts are recorded as derivative assets or derivative liabilities in the consolidated balance sheet with changes recorded as a change in fair value of derivatives in the consolidated statement of operations. For the twelve months ended December 31, 2025, the impact of foreign exchange contracts on net income was a gain of $43.9 million (December 31, 2024 — loss of $34.0 million). As at December 31, 2025, the Company held foreign exchange contracts that were designated as cash flow hedges under ASC 815 with an aggregate notional amount of $186.8 million (2024 — $158.0 million). The foreign exchange contracts are recorded as derivative assets or derivative liabilities in the consolidated balance sheet with the changes in fair value recorded in other comprehensive income. For the twelve months ended December 31, 2025 the company recognized a gain of $6.7 million (December 31, 2024 — loss of $6.5 million) in other comprehensive income. As the foreign exchange contracts settle, the realized gain or loss is reclassified from other comprehensive income into general, administrative and corporate expenses in the consolidated statement of operations. For the twelve months ended December 31, 2025, the amount recognized within general, administrative and corporate expenses for settled foreign exchange contracts was a realized gain of $0.7 million (December 31, 2024 — loss of $0.9 million). The Company estimates that $0.5 million of the existing gains as at December 31, 2025 are expected to be reclassified into earnings within the next 12 months. Embedded derivative on loss portfolio contract. The loss portfolio transfer contract included a funds withheld arrangement that provided returns to the reinsurer based on Aspen’s investment performance, guaranteeing a minimum of 1.75% return. Such funds withheld arrangements are examples of embedded derivatives and therefore this instrument was accounted for as an option-based derivative. For the twelve months ended December 31, 2025, the amount recognized as a change in fair value of derivatives in the consolidated statement of operations is a gain of $3.6 million (December 31, 2024 — gain of $12.9 million). During the twelve months ended December 31, 2025, the Company settled the outstanding funds withheld balance related to the loss portfolio contract and the associated embedded derivative expired.
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Deferred Policy Acquisition Costs |
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| Deferred Policy Acquisition Costs | Deferred Acquisition Costs The following table represents a reconciliation of beginning and ending deferred acquisition costs for the twelve months ended December 31, 2025 and 2024:
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Reserves for Losses and Adjustment Expenses |
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| Insurance [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Reserves for Losses and Adjustment Expenses | Reserve for Losses and Loss Adjustment Expenses The following table represents a reconciliation of beginning and ending consolidated reserve for losses and loss adjustment expenses for the twelve months ended December 31, 2025, 2024 and 2023:
For the twelve months ended December 31, 2025, there was a decrease of $107.6 million in the Company’s estimate of the ultimate claims to be paid in respect of prior accident years compared to an increase of $35.6 million for the twelve months ended December 31, 2024. Insurance: Net favorable reserve development of $105.4 million for the twelve months ended December 31, 2025, due to favorable prior year development on post-LPT accident years of $98.4 million and the favorable movement of $7.0 million due to the impact of the LPT. Reinsurance: Net favorable reserve development of $2.2 million for the twelve months ended December 31, 2025, due to favorable prior year development on post-LPT accident years of $28.9 million, partially offset by the unfavorable impact of the LPT of $26.7 million. The following tables show an analysis of incurred claims and allocated loss adjustment expenses, net of reinsurance and cumulative paid claims and allocated claim adjustment expenses, net of reinsurance for each of the years ended December 31, 2016 through 2025. Under the LPT agreement, the Company has reinsured net losses incurred on all accident years 2019 and prior. This has resulted in IBNR in the loss development triangles for 2019 and prior to be Nil. The loss development triangles are derived from all business written by the Company as although a limited number of contracts are written which have durations of greater than one year the contracts do not meet the definition of a long duration contract. All amounts included in the following tables related to transactions denominated in a foreign currency have been translated into U.S. Dollars using the exchange rates in effect at December 31, 2025. The Company has chosen to disaggregate the business in its Insurance segment, for the purposes of these loss development triangles as: Property; Casualty; Marine, Aviation and Energy; and Financial and Professional insurance lines. The Company considers that this presentation of its Insurance lines loss development triangles more precisely reflects meaningful trending information. The Company presents its loss development triangles for the Reinsurance segment in line with the reportable reinsurance lines: Property Catastrophe and Other Property; Casualty; and Specialty.
Reconciliation of Incurred and Paid Claims Development to total Reserve for Losses and LAE
____________________ (1) Other reinsurance balances recoverable primarily include short term recoverables to be collected. Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (unaudited)
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Income Taxes |
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| Income Tax Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Taxes | Income Taxes The Company is subject to income taxes in the jurisdictions in which it operates. The significant jurisdictions in which the Company is subject to tax are Bermuda, the U.S., and the U.K. Through December 31, 2024, Aspen Holdings and Aspen Bermuda were not subject to any income or capital gains taxes in Bermuda. On December 27, 2023, the Corporate Income Tax Act 2023 received Royal Assent in Bermuda, introducing a15% corporate tax that applies to Bermuda businesses that are part of multinational enterprise groups. This new corporate tax took effect for accounting periods beginning on or after January 1, 2025. The Company’s consolidated effective tax rate has increased for the twelve months ended December 31, 2025 as a result of these changes. The Company’s U.S. operating companies were subject to a U.S. federal income tax rate of 21%. The Company’s U.K. operating companies were taxed at the effective U.K. corporate tax rate of 25%. The U.K. tax rate changed on April 1, 2023 from 19% to 25%. Total income tax expense/(benefit) for the twelve months ended December 31, 2025, 2024 and 2023 was allocated as follows:
Income/(loss) from operations before income taxes and income tax expense/(benefit) attributable to that income/(loss) for the twelve months ended December 31, 2025, 2024 and 2023, disaggregated by domestic/national and foreign operations, is provided in the tables below:
________________ (1) As a result of the Bermuda Corporate Income Tax Act 2023, a 15% corporate income tax has been applied to the Company’s Bermuda operations. All Bermuda income taxes are levied by the Government of Bermuda and are considered national income taxes. The Company has not incurred any Bermuda state income taxes. (2) Current tax expense and deferred tax (benefit) in “Other” relates to the branches of Aspen UK and Aspen Bermuda Limited. As noted above, the tax rate in Bermuda, the Company’s country of domicile, is currently 15%. Application of the statutory income tax rate for operations in other jurisdictions produces a differential to the expected income tax expense/(benefit) as shown in the table below. The reconciliation between the income tax expense and the amount that would result from applying the statutory rate for the Company, after the adoption of ASU 2023-09, for the twelve months ended December 31, 2025 is provided in the table below:
________________ (1) The submission dates for filing income tax returns for the Company’s U.S. and U.K. operating subsidiaries are after the submission date of these consolidated financial statements. Accordingly, the final tax liabilities may differ from the estimated income tax expense included in these consolidated financial statements and may result in prior year adjustments being reported. The prior period adjustments for the twelve months ended December 31, 2025 predominantly relate to the determination of results under U.K. GAAP, upon which the U.K. tax returns are based. These items can only be reasonably determined on an accurate basis after the Company’s Annual Report on Form 20F has been filed. The reconciliation between the income tax expense and the amount that would result from applying the statutory rate for the Company, prior to the adoption of ASU 2023-09, for the twelve months ended December 31, 2024 and 2023 is provided in the table below:
________________ (1) The submission dates for filing income tax returns for the Company’s U.S. and U.K. operating subsidiaries are after the submission date of these consolidated financial statements. Accordingly, the final tax liabilities may differ from the estimated income tax expense included in these consolidated financial statements and may result in prior year adjustments being reported. The prior period adjustments for the twelve months ended December 31, 2024 predominantly relate to the determination of the results of the U.K. operating subsidiaries and its branches. The prior period adjustments for the twelve months ended December 31, 2023 predominantly relate to the determination of results in the U.K. (2) The decrease in valuation allowance in 2024 related to a change in judgment about the recoverability of deferred tax assets in Aspen UK. Income tax returns that have been filed by the Company’s U.S. Operating Subsidiaries are subject to examination for 2022 and later tax years. The Company’s U.K. operating subsidiaries’ income tax returns are potentially subject to examination for 2024 and later tax years as these periods are considered “open” by the U.K. Tax Authority. The Company accrues interest and penalties related to an underpayment of income taxes, if applicable, as income tax expenses. The Company does not believe it will be subject to any penalties in any open tax years. No uncertain tax position has been identified in 2025 or 2024. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as at December 31, 2025 or 2024. The tax effects of temporary differences and carryforwards that give rise to deferred tax assets and deferred tax liabilities are presented in the following table as at December 31, 2025 and 2024:
Deferred tax liabilities and assets represent the tax effect of carryforwards and temporary differences between the value of assets and liabilities for financial statement purposes and such values as measured by U.K., U.S., Bermuda and other tax laws and regulations. In assessing the realizability of deferred tax assets, management considers whether it is more likely than not that some portion or all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which those temporary differences and carry forwards become deductible or creditable. Management considers the scheduled reversal of existing taxable temporary differences, carryback availability, projected future taxable income, and tax-planning strategies in making this assessment. As at December 31, 2025, the Company has net operating losses carryforwards for Bermuda corporate income tax purposes of $294.8 million (2024 — $267.0 million), net operating losses carryforwards for U.S. federal income tax purposes of $276.0 million (2024 — $324.8 million), of which $226.4 million relates to the U.S. operating subsidiaries and $49.6 million to Aspen UK’s U.S. tax branch. The Company also has net operating losses carryforwards for U.K. corporate tax purposes of $194.6 million (2024 — $249.5 million), deferred syndicate profits of $61.7 million (2024 — $29.3 million), and losses in other jurisdictions of $71.8 million (2024 — $86.1 million). The $276.0 million that are available to offset future U.S. federal taxable income will expire between 2032 and 2041. The amount of pre-merger net operating losses carryforwards that can be used each year is limited by section 382 to $6.5 million per year for Aspen UK’s U.S. tax branch, and $20.8 million per year for the next 15 years for the U.S. operating subsidiaries. The net operating losses in Bermuda, the U.K. and other jurisdictions are available to offset future corporate income in those jurisdictions over an indefinite period. For U.S. federal income tax purposes, the Company has capital loss carryforwards of $85.3 million, of which $47.6 million relates to the U.S. operating subsidiaries and $37.7 million to Aspen UK’s branch, expiring between 2026 and 2028. For U.K. corporate tax purposes, the Company has foreign tax credit carryforwards of $20.2 million (2024 — $22.0 million) which are available to offset future U.K. corporate tax arising on the same foreign source of income over an indefinite period. A valuation allowance of $17.5 million (2024 — $22.9 million) on U.S. deferred tax assets (which includes these loss carryforwards) has been recognized at December 31, 2025 relating to Aspen UK’s U.S. tax branch. A valuation allowance of $20.3 million (2024 — $26.1 million) has been established against U.K. deferred tax assets. The U.K., U.S. and other jurisdictions valuation allowance combined total is $49.2 million (2024 — $64.0 million). The Company made the following tax payments for the twelve months ended December 31, 2025:
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Capital Structure |
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| Equity [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Capital Structure | Capital Structure The following table provides a summary of the Company’s authorized and issued share capital as at December 31, 2025 and 2024:
______________ (1) Each depositary share represents a 1/1000th interest in a share of the 5.625% preference shares. (2) Each depositary share represents a 1/1000th interest in a share of the 7.000% preference shares. (a) Ordinary Shares Issued Ordinary Shares. On March 30, 2025, the Company’s Board of Directors approved the exchange of all of the Company’s previously issued and outstanding shares, par value $0.01 per share (“Previous Ordinary Shares”), owned by the Company’s Parent, for 90,833,333 Class A ordinary shares, par value $0.001 (“Class A Ordinary Shares”). In connection with the Ordinary Share Exchange, the Previous Ordinary Shares were canceled. The Class A Ordinary Shares have the same voting and economic rights as the Previous Ordinary Shares other than par value. Share and per share information included in the accompanying consolidated financial statements and notes to the consolidated financial statements have been retroactively adjusted to reflect the Ordinary Share Exchange for all periods presented. Equity and Incentive plan. During 2023, selected senior employees were granted Management Equity Plan (“MEP”) stock options to acquire non-voting shares at a management equity vehicle affiliated with the Company at no cost to the employee. Upon completion of the Company’s IPO, the Company introduced the 2025 Equity and Incentive Plan which granted replacement awards in substitution for the MEP legacy share options. As a result, the Company granted 1,306,139 ordinary shares as replacement awards. To satisfy tax withholding and remittance obligations, 301,106 ordinary shares were withheld, resulting in a net issuance of 1,005,033 shares to employees. At the Effective Time, each outstanding and unexercised stock option award (a “Company Option Award”) that has an exercise price per Company Share less than the Merger Consideration will be canceled and converted into a contingent right to receive an amount in cash, without interest, equal to the product of (a) the amount by which the Merger Consideration exceeds the applicable per share exercise price of the Company Option Award and (b) the number of Company Shares subject to the Company Option Award (a “Restricted Option Award”), and each Company Option Award with an exercise price per Company Share equal to or greater than the Merger Consideration will be canceled for no consideration. Additionally, at the Effective Time, each outstanding restricted share unit award (a “Company RSU Award”) will be canceled and converted into a contingent right to receive an amount in cash, without interest, equal to the product of (x) the Merger Consideration and (y) the number of Company Shares subject to the Company RSU Award (together with the Restricted Option Awards, a “Restricted Cash Award”). Each Restricted Cash Award will continue to be subject to the same terms and conditions as the corresponding Company Option Award or Company RSU Award except that, (i) the vested portion of each Restricted Option Award will be paid within 15 days after the applicable vesting date, and (ii) if an individual’s employment or service is terminated by the Company or its affiliates without “cause” on or following the Effective Time, all Restricted Cash Awards then-held by such individual will vest in full and be paid within 60 days following the date of such individual’s termination of employment, subject to execution and non-revocation of a standard release of claims. Refer to Note 17, “Share-Based Payments and Long-Term Incentive Plan”, for further details. (b) Preference Shares Preference Shares Issuance. On May 2, 2013, the Company issued 11,000,000 5.950% Fixed-to-Floating Rate Perpetual Non-Cumulative Preference Shares, with a liquidation preference of $25 per share (the “AHL PRC Shares”). Net proceeds were $270.6 million, consisting of $275.0 million of total liquidation preference less $4.4 million of issuance expenses. See further information below under “AHL PRC Shares Redemption.” On September 20, 2016, the Company issued 10,000,000 shares of 5.625% Perpetual Non-Cumulative Preference Shares (the “AHL PRD Shares”). The AHL PRD Shares have a liquidation preference of $25 per share. Net proceeds were $241.3 million, consisting of $250.0 million of total liquidation preference less $8.7 million of issuance expenses. The AHL PRD Shares are listed on the NYSE under the symbol “AHL PRD.” On August 13, 2019, the Company issued 10,000,000 depositary shares, each of which represents 1/1000th interest in a share of the newly designated 5.625% Perpetual Non-Cumulative Preference Shares. The depositary shares have a liquidation preference of $25 per share. Net proceeds were $241.6 million, comprising $250.0 million of total liquidation preference less $8.4 million of issuance expenses. The depositary shares are listed on the NYSE under the symbol “AHL PRE.” On November 26, 2024, the Company issued 9,000,000 depositary shares, each of which represents 1/1000th interest in a share of the newly designated 7.000% Perpetual Non-Cumulative Preference Shares. The depositary shares have a liquidation preference of $25 per share. Net proceeds were $217.0 million, comprising $225.0 million of total liquidation preference less $8.0 million of issuance expenses. The depositary shares are listed on the NYSE under the symbol “AHL PRF.” AHL PRC Shares Redemption. On November 29, 2024, the Company issued a notice of redemption in connection with all of its issued and outstanding AHL PRC Shares. The redemption took place on January 1, 2025, was paid on January 2, 2025, and was conducted pursuant to the terms of the certificate of designation, dated May 2, 2013, governing the AHL PRC Shares. Each holder of an AHL PRC Share received $25 per preference share, representing an aggregate amount of $275.0 million. Since the redemption date is also a dividend payment date, the redemption price does not include any declared and unpaid dividends.
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Earnings Per Share |
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| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings Per Ordinary Share | Earnings Per Ordinary Share Basic earnings per ordinary share are calculated by dividing net income available to holders of Aspen Insurance Holdings Limited’s ordinary shares by the weighted average number of ordinary shares outstanding during the period. Diluted earnings per ordinary share are calculated based on the weighted average number of ordinary shares and dilutive potential ordinary shares outstanding during the period of calculation using the treasury stock method. The following table presents the computation of basic and diluted earnings per ordinary share for the twelve months ended December 31, 2025, 2024 and 2023.
______________ (1) Basic and diluted weighted average ordinary shares outstanding, and basic and diluted earnings per ordinary share have been retroactively adjusted to reflect the impact of the Ordinary Share Exchange, for all periods presented. Refer to Note 12, “Capital Structure” for further details. (2) The Company’s share options have been excluded from the calculation of diluted earnings per ordinary share for the twelve months ended December 31, 2025, because the effect of including those shares in the calculation would have been anti-dilutive. For further information on the Company’s share options, refer to Note 17, “Share-Based Payments and Long-Term Incentive Plan”.
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Statutory Requirements and Dividends Restrictions |
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| Disclosure Statutory Requirements And Dividends Restrictions Summary Of Statutory Requirements And Dividends Restrictions [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Dividend Payment Restrictions [Text Block] | Statutory Requirements and Dividends Restrictions As a holding company, the Company relies on dividends and other distributions from its Operating Subsidiaries to provide cash flow to meet ongoing cash requirements, including any future debt service payments and other expenses, and to pay dividends, if any, to our preference and ordinary shareholders. The Company must comply with the provisions of the Bermuda Companies Act 1981, as amended, (the “Companies Act”) regulating the payment of dividends and distributions. The ability of the Company’s Operating Subsidiaries to pay the Company dividends or other distributions is subject to the laws and regulations applicable to each jurisdiction, as well as the Operating Subsidiaries’ need to maintain capital requirements adequate to maintain their insurance and reinsurance operations and their financial strength ratings issued by independent rating agencies. The company law of England and Wales prohibits Aspen UK, AMAL or AUL from declaring a dividend to its shareholders unless it has “profits available for distribution”. The determination of whether a company has profits available for distribution is based on its accumulated realized profits and other distributable reserves less its accumulated realized losses. While the U.K. insurance regulatory laws impose no statutory restrictions on a general insurer’s ability to declare a dividend, the rules of the Prudential Regulation Authority (the “PRA”) require each insurance company within its jurisdiction to maintain its solvency margin at all times. Accordingly, Aspen UK, AMAL and AUL may not pay a dividend if the payment of such dividend would result in their SCR coverage ratio falling below certain levels. In addition, any future changes regarding regulatory requirements, including those described above, may restrict the ability of Aspen UK, AMAL and AUL to pay dividends in the future. As at December 31, 2025, Aspen UK had an accumulated balance of retained losses of approximately $727 million and AUL had an accumulated balance of retained losses of approximately $17 million. Aspen UK held a capital contribution reserve of $879.9 million as at December 31, 2025 which, under certain circumstances, could be distributable. Aspen Bermuda must comply with the provisions of the Companies Act and the Insurance Act regulating the payment of dividends and distributions. Aspen Bermuda may not in any financial year pay dividends which would exceed 25% of its total statutory capital and surplus, as shown on its statutory balance sheet in relation to the previous financial year, unless it files with the BMA a solvency affidavit at least seven days in advance of payment. As at December 31, 2025, 25% of Aspen Bermuda’s statutory capital and surplus amounted to $312.9 million. Aspen Bermuda must also obtain the prior approval of the BMA before reducing its total statutory capital as set out in its previous year’s financial statements by 25% or more. Aspen Specialty and AAIC are subject to North Dakota and Texas law, respectively. Under such law, the maximum ordinary dividend which can be paid by insurance companies without prior regulatory approval is subject to statutory restrictions. Ordinary dividends may only be paid out of earned surplus as distinguished from contributed surplus. The maximum amount of ordinary dividend that can be paid without prior regulatory approval is the greater of 10% of a company’s surplus as of December 31 of the preceding year, or the amount of net income from the preceding fiscal year. Actual and required statutory capital and surplus for the principal Operating Subsidiaries of the Company, excluding its Lloyd’s syndicate, as at December 31, 2025 and December 31, 2024 were estimated as follows:
As the sole corporate member of our Lloyd’s Syndicate, AUL was required to hold capital at Lloyd’s of $1,194.7 million as at December 31, 2025, adjusting funding to meet this level on an annual basis in the following Q2 and not holding less than 90% of this amount at any time. As at December 31, 2025, AUL had capital at Lloyd’s of $1,125.9 million of which $450.4 million was provided as Funds at Lloyd’s by Aspen Bermuda. The Bermuda Monetary Authority is the group supervisor of the Company. The laws and regulations of Bermuda require that the Company maintain a minimum amount of group statutory capital and surplus based on the enhanced capital requirement using the group standardized risk-based capital model of the Bermuda Monetary Authority. The Company is also subject to an early-warning level based on 120.0% of the enhanced capital requirement which may trigger additional reporting requirements or other enhanced oversight. The statutory capital requirements of the Company’s Operating Subsidiaries are set out above. To the extent that these requirements are met, the Company do not anticipate any dividend restrictions arising as a result of the Company’s enhanced capital requirement.
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Dividends |
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| Dividends [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Dividends | Dividends In the twelve months ended December 31, 2025, the Company’s Board of Directors paid the following preference share dividends:
(1) 5.625% Preference Shares (AHL PRD) — Perpetual Non-Cumulative Preference Shares. (2) 5.625% Preference Shares (AHL PRE) are represented by depositary shares, each representing a 1/1000th interest in a share of the 5.625% Preference Shares. The dividend paid per depositary share is likewise 1/1000th of the declared dividend, equivalent to $0.3516 per depositary share. (3) 7.000% Preference Shares (AHL PRF) are represented by depositary shares, each representing a 1/1000th interest in a share of the 7.000% Preference Shares. The dividend paid per depositary share is likewise 1/1000th of the declared dividend, equivalent to $0.4375 per depositary share.
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Retirement Plans |
12 Months Ended |
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Dec. 31, 2025 | |
| Retirement Benefits [Abstract] | |
| Retirement Plans | Retirement Plans The Company operates defined contribution retirement plans for the majority of its employees at varying rates of their salaries. Total contributions by the Company to the retirement plans were $17.0 million for the twelve months ended December 31, 2025 (2024 — $16.9 million, 2023 — $14.5 million).
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Share-Based Payments |
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| Share-Based Payment Arrangement [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share Based Payments | Share-Based Payments and Long-Term Incentive Plan In 2019, the Company implemented a new long-term incentive scheme, under which annual awards are split equally between Performance Units and Exit Units. Performance units vest after two years subject to the Company achieving certain thresholds of operating income over a two year period. Exit Units vest upon change of control (sale or IPO) and achieving predetermined multiplies of invested capital return targets. Both Performance Units and Exit Units are cash-based awards. During 2024, the Company amended the long-term incentive scheme, whereby the exit units were replaced by annual cash-based retention awards on a prospective basis. The retention awards vest over a twelve-month period subject to the recipient continuing to remain an employee of Aspen. The Company’s total long-term incentive plan expense for the twelve months ended December 31, 2025 was $6.9 million (December 31, 2024 — $14.6 million), which consists of a charge of $2.6 million (December 31, 2024 — $9.8 million) in relation to Performance Units and $4.3 million (December 31, 2024 — $4.8 million) in relation to Retention Units. The income tax effect of this is not considered to be material. As at December 31, 2025, the Company had recorded a payable of $17.9 million (December 31, 2024 — $20.0 million) related to the long-term incentive plan, which is included within accrued expenses and other payables in the consolidated balance sheet. Upon the completion of the IPO, the Company introduced the 2025 Equity and Incentive Plan (the “Plan”) which provides for the grant of incentive share options, non-qualified share options, share appreciation rights, restricted share awards, restricted share units, other share awards, and performance awards to certain eligible employees, directors and other service providers. The Plan also provides for the grant of ordinary shares as replacement awards in substitution for the MEP legacy share options granted to selected senior employees of the Company. The Company is initially authorized to issue up to 3,633,333 ordinary shares, excluding the replacement awards, under the terms of the Plan. The Company has issued ordinary shares, options and other equity incentives under four arrangements: the replacement awards, the all employee awards, the restricted share unit awards, and the incentive share options. The Company classifies these awards as equity instruments, and has elected to estimate expected forfeitures over the requisite service period. Replacement Awards During 2023, selected senior employees were granted MEP stock options to acquire non-voting shares at a management equity vehicle affiliated with the Company at no cost to the employee. The introduction of the 2025 Equity and Incentive Plan granted replacement awards in substitution for the MEP legacy share options. As a result, the Company granted 1,306,139 ordinary shares as replacement awards. To satisfy tax withholding and remittance obligations, 301,106 ordinary shares were withheld, resulting in a net issuance of 1,005,033 shares to employees. For the twelve months ended December 31, the Company recognized a compensation cost of $39.2 million in relation to these replacement awards. All Employee Awards In May 2025, 158,997 restricted share units (“RSUs”) were granted to certain eligible employees and other service providers of the Company. These RSUs were granted with a requisite service period of one year, with the awards cliff vesting at the end of the service period. The fair value of these awards was calculated based on the Company’s share price at the grant date of the awards, and is amortized as an expense over the requisite service period. The grant date fair value of these awards was $30 per unit. Restricted Share Unit Awards In May 2025, 623,953 RSUs were granted to selected senior employees of the Company. These RSUs were granted with a requisite service period of three years, with the awards vesting in 1/3 annual installments on each anniversary of the grant date. The fair value of these awards was calculated based on the Company’s share price at the grant date of the awards, and is amortized as an expense in accordance with the three year graded vesting schedule. The grant date fair value of these awards was $30 per unit. Incentive Share Options In May 2025, 626,727 share options were granted to selected senior employees with an exercise price equivalent to the Company’s share price at the grant date of the awards. These share options were granted with a requisite service period of three years, with the awards cliff vesting at the end of the service period. Once vested, the options are exercisable for a period of ten years from the date of grant. The fair value of the share options at the grant date was determined using the Black-Scholes option pricing model. The following table shows the fair value of the share options, and the significant inputs used in the Black-Scholes option pricing model:
______________ (1) The risk-free interest rate was estimated based on the yield on a U.S. treasury zero-coupon bond issued with a remaining term equal to the expected term of the share options. (2) The contractual term is 10 years from the date of grant. (3) As the Company does not have sufficient trading history, the expected share price volatility was estimated based on the historical volatilities of a selected peer group of comparable companies over a period commensurate with the expected term of the options. The total stock compensation expense recognized in the Company’s consolidated statements of operations for the twelve months ended December 31, 2025 was $61.5 million. As at December 31, 2025, there was $19.1 million of total unrecognized compensation cost related to non-vested awards, which will be recognized on a weighted average basis during the next 2.2 years. At the effective time of the Merger, each outstanding and unexercised stock option award (a “Company Option Award”) that had an exercise price per Company Share less than the Merger Consideration was canceled and converted into a contingent right to receive an amount in cash, without interest, equal to the product of (a) the amount by which the Merger Consideration exceeded the applicable per share exercise price of the Company Option Award and (b) the number of Company Shares subject to the Company Option Award (a “Restricted Option Award”), and each Company Option Award with an exercise price per Company Share equal to or greater than the Merger Consideration was canceled for no consideration. Additionally, at the Effective Time, each outstanding restricted share unit award (a “Company RSU Award”) was canceled and converted into a contingent right to receive an amount in cash, without interest, equal to the product of (x) the Merger Consideration and (y) the number of Company Shares subject to the Company RSU Award (together with the Restricted Option Awards, a “Restricted Cash Award”). Each Restricted Cash Award continued to be subject to the same terms and conditions as the corresponding Company Option Award or Company RSU Award except that, (i) the vested portion of each Restricted Option Award will be paid within 15 days after the applicable vesting date, and (ii) if an individual’s employment or service is terminated by the Company or its affiliates without “cause” on or following the Effective Time, all Restricted Cash Awards then-held by such individual will vest in full and be paid within 60 days following the date of such individual’s termination of employment, subject to execution and non-revocation of a standard release of claims. As a result of these modifications, these awards will be accounted for as liability‑classified share‑based compensation awards under ASC 718. The compensation cost for these awards continues to be recognized over the requisite service period; however, subsequent to the modification date, the awards will be remeasured at fair value at each reporting date until settlement, with changes in fair value recognized as a compensation expense in the consolidated statements of income. The modifications did not result in any changes to compensation cost for the twelve months ended December 31, 2025, as the modification occurred after the reporting period.
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Intangible Assets and Goodwill |
12 Months Ended |
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Dec. 31, 2025 | |
| Goodwill and Intangible Assets Disclosure [Abstract] | |
| Intangible Assets and Goodwill | Intangible Assets and Goodwill Aspen’s intangible assets relate to trademarks and licenses to trade in the U.S. and U.K. For the twelve months ended December 31, 2025 and December 31, 2024, the Company had intangible assets and goodwill totaling $19.9 million and $19.9 million, respectively. The “Aspen” trademark, valued at $1.1 million, $16.7 million of insurance licenses and $2.1 million of goodwill are considered to have an indefinite life and are tested annually for impairment or when events or changes in circumstances indicate that these assets might be impaired. For the year ended December 31, 2025, the Company performed its annual qualitative assessment and determined that it was more likely than not that the remaining intangible assets and goodwill are not impaired.
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Operating Leases (Notes) |
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| Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Lessee, Operating Leases | Operating Leases As at December 31, 2025, the Company has recognized right-of-use operating lease assets of $43.4 million, net of impairment, and operating lease liabilities of $64.7 million. Right-of-use operating lease assets comprise primarily of leased office real estate globally and other assets. For all office real estate leases, rent incentives, including reduced-rent and rent-free periods and contractually agreed rent increases during the lease term, have been included when determining the present value of future cash flows. As part of the Company’s operating effectiveness and efficiency program, the Company has consolidated its office space. Where negotiations are either in advanced stages of discussion and it is probable that the sub-lease transactions will be completed, or the Company has agreed terms to sub-lease our office space, the Company has assessed the right-of-use lease assets for impairment. During the twelve months ended December 31, 2025, no impairment has been recognized on the right-of-use lease asset (2024 — $Nil). The Company has no lease transactions between related parties. Operating lease charge. The following table summarizes the operating lease charge for the twelve months ended December 31, 2025, 2024 and 2023:
Lease Liabilities. The following table summarizes the maturity of lease liabilities under non-cancellable leases as of December 31, 2025 and 2024:
Other lease information. The following table summarizes the cash flows on operating leases for the twelve months ended December 31, 2025, 2024 and 2023 and other supplemental information:
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Related Party Transactions |
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| Related Party Transactions [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Related Party Transactions | Related Party Transactions Following the closing of the IPO, the Apollo Shareholders retained a majority of the Company’s outstanding shares. As such, for the year ended December 31, 2025, Apollo and the Apollo Shareholders continued to be considered related parties under U.S. GAAP due to their ongoing ability to exercise significant influence over the Company’s operations and governance. Apollo’s indirect subsidiary, Apollo Asset Management Europe PC LLP (“AAME PC”), serves as the investment manager for the Company and certain of the Company’s subsidiaries, and Apollo’s indirect subsidiary, Apollo Management Holdings, L.P. (“AMH”), provides the Company with management consulting services and advisory services. With effect from January 1, 2025, the rights and obligations of AAME PC were novated to an affiliate of AAME PC, Apollo Asset Management Europe LLP (“AAME”). Additionally, until closing of the Merger, certain employees of Apollo and its affiliates served on the Board. A description of relationships and transactions that have existed or that the Company and certain of the Company’s subsidiaries has entered into with Apollo and its affiliates are described below. Investment Management Relationships Alongisde other investment managers that may be appointed from time to time by the Company, AAME provides centralized asset management investment advisory and risk services for the portfolio of the Company’s investments and investments of such subsidiaries pursuant to the investment management agreements (“IMAs”) that have been entered into with AAME. In addition, pursuant to the IMAs, AAME may engage sub-advisors or delegates to provide certain of the investment advisory and management services to the Company’s subsidiaries. Such sub-advisors may include affiliates of AAME. Under each of the IMAs, AAME will be paid an annual investment management fee (the “Management Fee”) which will be based on a cost-plus structure. The “cost” is comprised of the direct and indirect fees, costs, expenses and other liabilities arising in or otherwise connected with the services provided under the IMAs. The “plus” component will be a mark-up in an amount of up to 25% determined based on an applicable transfer pricing study. The Management Fee will be subject to certain maximum threshold levels, including an annual fee cap of 15 bps of the total amount of investable assets. Affiliated sub-advisors, including Apollo Management International LLP, will also earn additional fees for sub-advisory services rendered. During the year ended December 31, 2025, the Company recognized IMA fees of $6.4 million (2024 — $9.2 million; 2023 — $9.4 million), of which $2.0 million (2024 — $4.0 million) remains payable to AAME at year end. The IMAs remained in place following the effective time of the Merger. The Company and its subsidiaries and affiliates, as applicable, may consider and amend the terms of the IMAs from time to time. As from May 9, 2025, fees related to sub-advisory services were no longer payable under the IMAs. Management Consulting Agreement As previously disclosed, the Company entered into a Management Consulting Agreement, dated March 28, 2019 (the “Management Consulting Agreement”), with AMH. Pursuant to the Management Consulting Agreement, AMH provided the Company management consulting and advisory services related to the business and affairs of the Company and its subsidiaries. The Company pays AMH in consideration for its services under the Management Consulting Agreement, an annual management consulting fee equal to the greater of (i) 1% of the consolidated net income of the Company and its subsidiaries for the applicable fiscal year, or (ii) $5 million. During the year ended December 31, 2025, the Company recognized Management Consulting fees of $1.8 million (2024 — $5.0 million; 2023 — $5.0 million), of which $Nil remains payable to AMH at year end (2024 — $1.3 million). With effect from the closing of the IPO on May 9, 2025, the Management Consulting Agreement was terminated. As a result, no management consulting fees will accrue to AMH under the Management Consulting Agreement for periods subsequent to the closing of the IPO. All outstanding payable balances were settled during July 2025. Related Party Investments During the year, the Company bought or held the following securities or investments in Apollo: As at December 31, 2025, the Company’s investment in other investments managed by Apollo had a fair value of $81.4 million (2024 — $78.6 million). During the twelve months ended December 31, 2025, the Company incurred income of $2.1 million (2024 — income of $0.4 million; 2023 — losses of $0.4 million) which is included in net investment income on the consolidated statement of operations and other comprehensive income. These investments are included in other investments on the consolidated balance sheet. As at December 31, 2025, the Company’s investment in notes issued by special purpose vehicles established and managed by Apollo had a fair value of $Nil as these notes were sold during the last quarter of 2025 (2024 — $66.6 million). During the twelve months ended December 31, 2025, the Company recognized income of $3.4 million (2024 — income of $5.5 million; 2023 — income of $5.5 million) which is included in the consolidated statement of operations and other comprehensive income. These investments were included in privately-held investments on the consolidated balance sheet. As at December 31, 2025, the Company’s investments in Collateralized Loan Obligations issued by special purpose vehicles established and managed by Apollo had a fair value of $88.8 million (2024 — $88.9 million). During the twelve months ended December 31, 2025, the Company recognized income on these investments of $8.3 million (2024 — income of $11.3 million; 2023 — $17.4 million) which is included in the consolidated statement of operations and other comprehensive income. Of these investments, $69.0 million are included in fixed income securities, trading, and $19.8 million are included in fixed income securities, available for sale on the consolidated balance sheet. As at December 31, 2025, the Company’s investments in Middle Market Loans originated and managed by Apollo had a fair value of $4.8 million (2024 — $7.0 million). During the twelve months ended December 31, 2025, the Company recognized losses of $1.9 million (2024 — income of $0.5 million; 2023 — income of $5.8 million) which is included in the consolidated statement of operations and other comprehensive income. The Middle Market Loans are included in privately-held investments on the consolidated balance sheet. Insurance Transactions During the year ended December 31, 2025, the Company and its subsidiaries provided insurance and reinsurance coverage to Apollo or certain of its affiliates. Balances relating to these contracts are reflected in the consolidated statement of operations for the twelve months ended December 31, 2025, and the consolidated balance sheet as at December 31, 2025, as follows:
Other Payables to Related Parties As at December 31, 2025, the Company had a payable balance of $Nil (2024 — $1.2 million), due to Highlands Bermuda Holdco, Ltd.
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| Commitments and Contingencies Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Commitments and Contingencies | Commitments and Contingencies (a)Restricted assets The Company’s subsidiaries are obliged by the terms of its contractual obligations to U.S. policyholders and by obligations to certain regulatory authorities to facilitate issue of letters of credit or maintain certain balances in trust funds for the benefit of policyholders. The following table details the forms and values of the Company’s material restricted assets as at December 31, 2025 and 2024:
_____________ (1) As at December 31, 2025, the Company had pledged funds of $101.8 million (December 31, 2024 — $153.2 million) as collateral for the secured letters of credit. (2) Investable assets comprise total investments, cash and cash equivalents, accrued interest, receivables for securities sold and payables for securities purchased. Investment Funds. We invest in investment funds which, as is typical for this type of investment, have lock-up periods. A lock-up period is the initial amount of time an investor is contractually required to remain invested before having the ability to redeem. As at December 31, 2025, the lock-up periods across these funds range from one quarter to several years. Thereafter these funds could also be redeemed on a pro-rata basis depending on the liquidity position of the fund. There are no assurances as to when the Company may be able to withdraw, in whole or in part, its redemption request from the fund. Letters of Credit. The Company’s current arrangements with bankers for the issue of letters of credit require us to provide collateral in the form of cash and investments for the full amount of all secured and undrawn letters of credit that are outstanding. We monitor the proportion of our otherwise liquid assets that are committed to trust funds or to the collateralization of letters of credit. As at December 31, 2025 and 2024, these funds amounted to approximately 37.1% of the $8.3 billion and approximately 46.4% of the $7.7 billion of investable assets held by the Company, respectively. We do not consider that this unduly restricts our liquidity at this time. For more information on our credit facilities and long-term debt arrangements, refer to Note 24, “Credit Facilities and Long-term Debt” of these consolidated financial statements. Funds at Lloyd’s. AUL operates at Lloyd’s as the corporate member for Syndicate 4711. AUL also participates in underwriting activities of Carbon Syndicate 4747. Lloyd’s determines required regulatory capital by considering the underwriting activities that AUL participates in. Such capital, called Funds at Lloyd’s, consists of investable assets as at December 31, 2025 in the amount of $461.7 million (2024 — $471.9 million). The amounts provided as Funds at Lloyd’s will be drawn upon and become a liability of the Company in the event of Syndicate 4711 declaring a loss at a level that cannot be funded from other resources, or if Syndicate 4711 requires funds to cover a short-term liquidity gap. The amount which the Company provides as Funds at Lloyd’s is not available for distribution to the Company for the payment of dividends. Aspen Managing Agency Limited, the managing agent to Syndicate 4711, is also required by Lloyd’s to maintain a minimum level of capital which as at December 31, 2025 was £0.4 million (December 31, 2024 — £0.4 million). This is not available for distribution by the Company for the payment of dividends. U.S. Mortgage Trusts. Aspen Bermuda, Aspen UK, Aspen Specialty and AAIC maintain trusts for the benefit of their U.S. cedants in accordance with covenants of U.S. mortgage credit risk transfer transactions. As at December 31, 2025, the total balance held in trust was $547.4 million (December 31, 2024 —$439.2 million). U.S. Reinsurance Trust Fund. For its U.S. reinsurance activities, Aspen UK has established and must retain a multi-beneficiary U.S. trust fund for the benefit of its U.S. cedants so that they may take financial statement credit without the need to post cedant-specific security. The minimum trust fund amount is $20.0 million plus an amount equal to 100% of Aspen UK’s U.S. reinsurance liabilities, which were $497.6 million as at December 31, 2025 and $648.8 million as at December 31, 2024. As at December 31, 2025, the balance (including applicable letter of credit facilities) held in the trust was $718.6 million (2024 — $1,001.5 million). Aspen Bermuda has also established and must retain a multi-beneficiary U.S. trust fund for the benefit of its U.S. cedants so that they may take financial statement credit without the need to post cedant-specific security. The minimum trust fund amount is $20.0 million plus an amount equal to 100% of Aspen Bermuda’s liabilities to its U.S. cedants which was $151.3 million and $182.3 million as at December 31, 2025 and 2024, respectively. As at December 31, 2025, the balance held in the U.S. trust fund and other Aspen Bermuda trusts was $243.8 million (2024 — $334.0 million). U.S. Surplus Lines Trust Fund. Aspen UK and Syndicate 4711 have also established a U.S. surplus lines trust fund with a U.S. bank to secure liabilities under U.S. surplus lines policies. The balance held in trust as at December 31, 2025 was $155.2 million (2024 — $150.2 million). U.S. Regulatory Deposits. As at December 31, 2025, Aspen Specialty had a total of $3.4 million (2024 — $6.9 million) on deposit with two U.S. states in order to satisfy state regulations for writing business in those states. AAIC had a further $7.1 million (2024 — $6.5 million) on deposit with eleven U.S. states. Canadian Trust Fund. Aspen UK has established a Canadian trust fund with a Canadian bank to secure a Canadian insurance license. As at December 31, 2025, the balance held in trust was CAD$242.3 million ($176.7 million) (2024 — CAD$219.8 million). Australian Trust Fund. Aspen UK has established an Australian trust fund with an Australian bank to secure policyholder liabilities and as a condition for maintaining an Australian insurance license. As at December 31, 2025, the balance held in trust was AUD$63.7 million ($42.5 million) (2024 — AUD$78.1 million). Swiss Trust Fund. Aspen UK has established a Swiss trust fund with a Swiss bank to secure policyholder liabilities and as a condition for maintaining a Swiss insurance license. As at December 31, 2025, the balance held in trust was CHF5.1 million ($6.5 million) (2024 — CHF4.8 million). Singapore Fund. Aspen UK and Aspen Bermuda have established segregated Singaporean bank accounts to secure policyholder liabilities and as a condition for maintaining a Singaporean insurance license and meet local solvency requirements. As at December 31, 2025, the total balance in the accounts was SGD$213.2 million ($165.8 million) (2024 — SGD$201.7 million). (b)Contingencies In common with the rest of the insurance and reinsurance industry, the Company is also subject to litigation and arbitration in the ordinary course of business. The Company’s Operating Subsidiaries are regularly engaged in the investigation, conduct and defense of disputes, or potential disputes, resulting from questions of insurance or reinsurance coverage or claims activities. Pursuant to insurance and reinsurance arrangements, many of these disputes are resolved by arbitration or other forms of alternative dispute resolution. Such legal proceedings are considered in connection with estimating the Company’s Reserve for Losses and Loss Adjustment Expenses, as provided on the Company’s consolidated balance sheet. In some jurisdictions, noticeably the U.S., a failure to deal with such disputes or potential disputes in an appropriate manner could result in an award of “bad faith” punitive damages against the Company’s Operating Subsidiaries. In accordance with ASC 450-20-50-3, for (a) reasonably possible losses for which no accrual is made because any of the conditions for accrual in ASC 450-20-25-2 are not met and (b) reasonably possible losses in excess of the amounts accrued pursuant to ASC 450-20-30-1, the Company will provide an estimate of the possible loss or range of possible loss or state that such an estimate cannot be made. Cavello Bay Reinsurance Limited (“Cavello Bay”) commenced proceedings against the Company in the State of Connecticut Superior Court on August 22, 2025. The case was subsequently refiled in the Supreme Court of the State of New York on October 17, 2025. Cavello Bay claim that the Company has breached the Loss Portfolio Transfer Reinsurance Agreement entered into in January 2022 in the following respects: (i) by refusing to comply with the Company’s contractual obligations to identify and pay or credit premiums collected after October 1, 2021 in respect of the reinsured policies (the “Collected Premium Issue”). Cavello Bay suggest that this claim amounts to a sum in excess of $150.0 million plus prejudgment interest; (ii) by refusing to comply with the Company’s contractual obligations to pay claims with dates of loss after January 1, 2020 under contracts that straddle the period before and after that date (the “Straddle Account Issue”). Cavello Bay claim that the Company is responsible for more than $50.0 million in paid claims and reserves which are currently allocated to Cavello Bay; and (iii) by refusing to apply proper dates of loss to construction defect claims where the loss occurred partially or entirely after December 31, 2019 (the “Construction Defect Issue”). Cavello Bay claim that the Company’s share of Construction Defect claims will exceed $100.0 million. The Company has appointed the law firms Troutman Pepper Locke and DWF to represent it. In line with these firms’ recommendations, the Company is: (a) fully defending each of Cavello Bay’s claims, and (b) bringing certain counterclaims. As at December 31, 2025, other than the matters noted above, based on available information, it is not possible to reasonably estimate the likelihood or the full financial impact of the asserted claims or extent of the set-off or other changes to the Company’s potential exposure
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Concentration of Credit Risk |
12 Months Ended |
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Dec. 31, 2025 | |
| Risks and Uncertainties [Abstract] | |
| Concentrations of Credit Risk | Concentrations of Credit Risk The Company is potentially exposed to concentrations of credit risk in respect of amounts recoverable from reinsurers, investments and cash and cash equivalents, and insurance and reinsurance balances owed by the brokers with whom the Company transacts business. The Company defines credit risk tolerances in line with the risk appetite set by our Board and they, together with the Group’s risk management function, monitor exposures to individual counterparties. Any exceptions are reported to senior management and the Risk Committee of the Board of Directors. Reinsurance recoverables At December 31, 2025, the total amount recoverable by the Company from reinsurers was $4,281.9 million (December 31, 2024 — $4,172.0 million). Of the Company’s reinsurance recoverable balance at December 31, 2025, 61.9% is collateralized by our reinsurers, 37.3% is recoverable from reinsurers rated A- or higher by major rating agencies and 0.8% is recoverable from reinsurers rated lower than A- by major rating agencies (December 31, 2024 — 55.9%, 44.0% and 0.1%, respectively). As at December 31, 2025, the Company’s largest uncollateralized exposures to individual reinsurers represent 17.2% (December 31, 2024 —15.4%), 15.1% (December 31, 2024 — 11.5%), and 7.6% (December 31, 2024 — 8.8%) of the uncollateralized reinsurance recoverables. Under the current expected credit loss model (“CECL”), the Company recognized a provision against reinsurance recoverables of $16.2 million as at December 31, 2025 (December 31, 2024 — $27.5 million). For the twelve months ended December 31, 2025, there was a $11.3 million decrease in the CECL allowance on reinsurance recoverables. Underwriting premium receivables The total underwriting premium receivable by the Company as at December 31, 2025 was $1,700.8 million (2024 — $1,617.0 million). As at December 31, 2025, $257.7 million of the total underwriting premium receivable balance has been due for settlement for more than one year. The Company assesses the recoverability of premium receivables through a review of policies and the concentration of receivables by broker. The Company has recognized an allowance for credit losses of $22.9 million as at December 31, 2025 (December 31, 2024 — $24.6 million) on underwriting premium receivables. Investments and cash and cash equivalents The Company’s investment policies include specific provisions that limit the allowable holdings of a single issue and issuer. As at December 31, 2025, there were no investments in any single issuer, other than the U.S. government and the Canadian government in excess of 2% of the aggregate investment portfolio.
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Reclassifications from Accumulated Other Comprehensive Income |
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| Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Reclassifications from Accumulated Other Comprehensive Income | Reclassifications from Accumulated Other Comprehensive Income The following table sets out the components of the Company’s Accumulated Other Comprehensive Income (“AOCI”) that are reclassified into the consolidated statement of operations for the twelve months ended December 31, 2025, 2024 and 2023:
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Credit Facilities and Long-term Debt |
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| Credit Facilities and Long-term Debt | Credit Facilities and Long-term Debt In the normal course of its operations, the Company enters into agreements with financial institutions to obtain financing through secured and unsecured credit facilities. As at December 31, 2025, the Company had utilized or drawn on approximately $1.4 billion of capital under these facilities, with additional unutilized capacity available, notably approximately $798 million from the Credit Agreement (defined below) and our FHLBB (defined below) line of credit, with the significant facilities as follows: Credit Facilities On December 1, 2021, Aspen Holdings and certain of its direct or indirect subsidiaries (collectively, the “Borrowers”) entered into a Third Amended and Restated Credit Agreement, as further amended from time to time (the “Credit Agreement”) with various lenders and Barclays Bank plc, as administrative agent, which amends and restates the Amended and Restated Credit Agreement, dated as of June 12, 2013 and the Second Amended and Restated Credit Agreement, dated as of March 27, 2017, among Aspen Holdings, certain subsidiaries thereof, various lenders and Barclays Bank plc, as administrative agent. The Credit Agreement will be used by the Borrowers to finance the working capital needs of the Aspen Holdings and its subsidiaries, for letters of credit in connection with the insurance and reinsurance businesses of the Company and its subsidiaries and borrowings for other general corporate purposes. Initial availability under the Credit Agreement was $300.0 million and the Company has the right to request (subject to the terms and conditions of the Credit Agreement) an increase to the credit facility by up to $100.0 million. The Credit Agreement will expire on December 1, 2026. As at December 31, 2025, there were no borrowings outstanding under the Credit Agreement. The fees and interest rates on the loans and the fees on the letters of credit payable by the Borrowers under the Credit Agreement are based upon the credit ratings for the Company’s long-term unsecured senior, non-credit enhanced debt rating of the Company, as determined by S&P and Moody’s. In addition, the fees for a letter of credit vary based upon whether the applicable Borrower has provided collateral (in the form of cash or qualifying debt securities) to secure its reimbursement obligations with respect to such letter of credit. Under the Credit Agreement, the Company must not permit (a) consolidated tangible net worth as at the last day of each fiscal quarter of the Company to be less than the sum of (i) $2,019.6 million, (ii) 25% of consolidated net income during the period from January 1, 2021 to and including such last day of such fiscal quarter (if positive) and (iii) 25% of the aggregate net cash proceeds of all issuances by the Company of shares of its capital stock during the period from January 1, 2021 to and including such last day of such fiscal quarter, but excluding (x) any amount included in the Company’s accumulated other comprehensive income or loss related to unrealized gains or losses on available for sale securities and (y) during the period from January 1, 2022, any amount included in net unrealized investment gains or losses, related to unrealized gains or losses on trading securities, (b) the ratio of its total consolidated debt to the sum of such debt plus our consolidated tangible net worth to exceed 35% as at the last day of any fiscal quarter of the Company or (c) any material insurance subsidiary to have a financial strength rating of less than “B++” from A.M. Best. The Credit Agreement contains other customary affirmative and negative covenants, including (subject to various exceptions) restrictions on the ability of the Company and its subsidiaries to incur indebtedness, create or permit liens on their assets, engage in mergers or consolidations, dispose of assets, pay dividends or other distributions, purchase or redeem the Company’s equity securities, make investments and enter into transactions with affiliates. In addition, the Credit Agreement has customary events of default, including (subject to certain materiality thresholds and grace periods) payment default, failure to comply with covenants, material inaccuracy of representation or warranty, bankruptcy or insolvency proceedings, change of control and cross-default to other debt agreements. In connection with the Merger, the Company obtained waivers and consents, to the extent required, from its banking partners, to ensure the continuity of its various financing and capital arrangements through the effective time of the Merger in the ordinary course. The Company maintains strong relationships with its banking partners. Other Credit Facilities. (i) On February 7, 2019, Aspen European Holdings Limited (“Aspen European”) and Aspen Holdings (acting as guarantor of Aspen European) entered into a letter of credit facility for the purpose of obtaining a letter of credit in favor of Aspen UK for a sum not to exceed $100.0 million to provide approved regulatory capital for Aspen UK. A letter of credit was issued in favor of Aspen UK for a sum of $100.0 million. This facility was amended and restated with effect from February 7, 2023, pursuant to which the $100.0 million letter of credit was extended to February 11, 2027. (ii) On October 31, 2024 AUL and Aspen Holdings (acting as guarantor of AUL), effected an amendment to a letter of credit facility agreement for the account of AUL, pursuant to which a syndicate of lenders issued several letters of credit in an aggregate amount of $430.0 million, for the benefit of Lloyd’s, to support AUL’s Funds at Lloyd’s requirements in connection with the 2025 year of account at Lloyd’s. This further amended the letter of credit facility agreement, dated November 1, 2021, entered into between AUL, Aspen Holdings (acting as guarantor of AUL) and various lenders, for the account of AUL, pursuant to which a lender provided a maximum aggregate amount of $235.0 million, to support AUL’s Funds at Lloyd’s requirements in connection with the 2021 year of account at Lloyd’s, as amended on May 6, 2022, October 27, 2022, October 24, 2023 and April 29, 2024 in connection with the 2021, 2022 and 2023 underwriting years of account at Lloyd’s, as applicable. (iii) On October 31, 2024, AUL and Aspen Holdings (acting as guarantor of AUL) amended a Funds at Lloyd’s Facility Agreement dated November 25, 2020, as amended on December 2, 2021, December 1, 2022, and as further amended on November 30, 2023, for the account of AUL. This facility provides that a maximum aggregate amount of up to £60.0 million of acceptable securities may be deposited with, and for the benefit of, Lloyd’s on behalf of AUL to support AUL’s Funds at Lloyd’s requirements in connection with the 2025 year of account at Lloyd’s. (iv) On October 31, 2024, AUL and Aspen Holdings (acting as guarantor of AUL) entered into a Funds at Lloyd’s Facility, for the account of AUL. This facility provides that a maximum aggregate amount of up to £25.0 million of acceptable securities may be deposited with, and for the benefit of, Lloyd’s on behalf of AUL to support AUL’s Funds at Lloyd’s requirements in connection with the 2025 year of account at Lloyd’s. (v) On April 1, 2021, the Company’s subsidiaries, AAIC and Aspen Specialty, each established a secured line of credit at Federal Home Loan Bank of Boston (“FHLBB”). Advances may be used to support general corporate purposes. The maximum amount available under these facilities will vary based on the borrower’s net admitted assets or reserve assets (total invested assets) and the lender’s underwriting criteria. Aspen Specialty’s maximum borrowing capacity available from FHLBB upon initial application is 15% of net admitted assets or approximately $269 million, and is subject to North Dakota approval. Under Texas state insurance law, without the prior consent of the Texas Department of Insurance, the amount of assets AAIC may pledge to secure debt obligations is limited to 10% of its reserve assets, resulting in a maximum borrowing capacity for AAIC under its FHLBB facility of approximately $230 million. Neither AAIC nor Aspen Specialty expects to draw on these facilities in the near future. (vi) On November 5, 2024, Aspen Holdings effected an amendment to a letter of credit facility dated November 5, 2021, as amended on January 18, 2023 to extend the term for another 3 years. The letter of credit issued under this facility is the for the benefit of Aspen Bermuda, as beneficiary, and has been applied towards the eligible capital of Aspen Bermuda, and classified as ancillary Tier 3 capital of such entity, in accordance with applicable Bermuda laws and regulations. The total commitment under the facility is $100.0 million. A letter of credit in the full amount of the available commitment has been issued to Aspen Holdings under this facility. (vii) On December 29, 2021, Aspen Holdings entered into a committed letter of credit facility agreement, as amended on January 11, 2023. The letter of credit issued under this facility is for the benefit of Aspen Bermuda, as beneficiary, and has been applied towards the eligible capital of Aspen Bermuda, and classified as ancillary Tier 3 capital of such entity, in accordance with applicable Bermuda laws and regulations. The total commitment under the facility is $75.0 million. A letter of credit in the full amount of the available commitment has been issued to Aspen Holdings under this facility. In October 2024, the term of the letter of credit was extended for another 3 years, to expire on December 29, 2027. (viii) On November 15, and 20, 2023, Aspen Bermuda and Aspen UK each signed a Global Master Repurchase Agreement with two selected banks to enable bilateral repurchase agreement to be entered, with cash and US Government Bonds as eligible collateral for the margin transfer. Advances may be used to support general corporate purposes. As of December 31, 2025, no active repurchase agreement has been entered with either of the banks. The above credit facilities include certain restrictive covenants customary for facilities of this type, including restrictions on indebtedness, consolidated tangible net worth, and minimum financial strength ratings, with such financial covenants largely consistent with these set forth in the Credit Agreement. In addition, the agreements include default covenants, which could require the Company to fully secure the outstanding amounts thereunder and/or result in the Company not being allowed to issue any new letters of credit. At December 31, 2025, no conditions of default existed under these facilities. On June 13, 2025, the Company closed its offering of $300.0 million 5.750% Senior Notes due 2030 (the “Notes”). The net proceeds from this offering, net of debt issuance costs, were $296.8 million and the proceeds were used to repay the Company’s 2026 Term Loan. Subject to applicable law, the Notes will be our senior unsecured obligations of Aspen Holdings and will rank senior in right of payment to any future indebtedness we incur that is expressly subordinated in right of payment to the notes; equal in right of payment with all of our other existing or future secured indebtedness from time to time outstanding; and effectively subordinated to our existing and future secured indebtedness. The Company has recorded the long-term debt at amortized cost in the consolidated balance sheet. Interest incurred on the long-term debt is included within interest expense in the consolidated statement of operations. The interest expense for the twelve months ended December 31, 2025 was $17.4 million (2024 — $20.5 million; 2023 — $15.6 million). The following table summarizes our contractual obligations under long-term debt as at December 31, 2025.
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Credit Losses |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Credit Loss [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Allowance for Expected Credit Losses | Allowance for Credit Losses The following tables summarize the Company’s allowance for credit losses for the twelve months ended December 31, 2025 and December 31, 2024 in available for sale investments, reinsurance recoverables and receivables:
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Subsequent Events |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Subsequent Events [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Subsequent Events | Subsequent Events On February 24, 2026, the Company was acquired by a wholly owned indirect subsidiary of Sompo, a leading global provider of commercial and consumer property and casualty (re)insurance. As a result of the Merger, 100% of the Company’s Ordinary Shares are indirectly owned by Sompo. Following the Effective Time, the Company’s Ordinary Shares were delisted from The New York Stock Exchange and deregistered under the Securities Exchange Act of 1934, as amended. For more information regarding the Merger, refer to Note 1 in these consolidated financial statements, “History, Organization and Business Combination.” Upon the completion of the Merger, the Company incurred and paid advisory fees of $34.6 million related to the transaction. On March 4, 2026, the Company’s Board of Directors declared a dividend of $300.0 million on the Company’s Ordinary Shares, payable as soon as reasonably practicable thereafter. On March 4, 2026, the Company’s Board of Directors declared dividends of $11.0 million on the Company’s Preference Shares, as follows:
______________ (1) The 5.625% Preference Shares are represented by depositary shares, each representing a 1/1000th interest in a share of the 5.625% Preference Shares. The dividend paid per depositary share is likewise 1/1000th of the declared dividend, equivalent to $0.3516 per depositary share. (2) The 7.000% Preference Shares are represented by depositary shares, each representing a 1/1000th interest in a share of the 7.000% Preference Shares. The dividend paid per depositary share is likewise 1/1000th of the declared dividend, equivalent to $0.4375 per depositary share.
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Schedule I - Investments |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Text Block] | SCHEDULE I - CONSOLIDATED SUMMARY OF INVESTMENTS OTHER THAN INVESTMENTS IN RELATED PARTIES For the Twelve Months Ended December 31, 2025 ($ in millions)
_________________ (1) Fixed income securities, asset-backed excludes related party investments totaling fair value of $88.8 million. (2) Privately-held investments excludes related party investments totaling $4.8 million. (3) Other investments excludes related party investments of $81.4 million in Funds managed by Apoll
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Schedule II - Condensed Financial Information of Registrant |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Condensed Financial Information Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule II - Condensed Financial Information of Registrant | SCHEDULE II - CONDENSED FINANCIAL INFORMATION OF REGISTRANT BALANCE SHEETS As at December 31, 2025 and 2024
____________________ (1) The Company’s investment in subsidiaries is accounted for under the equity method and adjustments to the carrying value of these investments are made based on the Company’s share of capital, including share of income and expenses. Changes in the value were recognized in “equity in net earnings of subsidiaries and other investments, equity method” in the statement of operations. ASPEN INSURANCE HOLDINGS LIMITED SCHEDULE II - CONDENSED FINANCIAL INFORMATION OF REGISTRANT (CONTINUED) STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME For the Twelve Months Ended December 31, 2025, 2024 and 2023
ASPEN INSURANCE HOLDINGS LIMITED SCHEDULE II - CONDENSED FINANCIAL INFORMATION OF REGISTRANT (CONTINUED) STATEMENTS OF CASH FLOWS For the Twelve Months Ended December 31, 2025, 2024 and 2023
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Schedule III - Supplementary Insurance Information |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SEC Schedule, 12-16, Insurance Companies, Supplementary Insurance Information [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule III - Supplementary Insurance Information | SCHEDULE III - SUPPLEMENTARY INSURANCE INFORMATION For the Twelve Months Ended December 31, 2025, 2024 and 2023 Supplementary Information ($ in millions)
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Schedule IV - Reinsurance |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SEC Schedule, 12-17, Insurance Companies, Reinsurance [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule IV - Reinsurance | SCHEDULE IV - REINSURANCE For the Twelve Months Ended December 31, 2025, 2024 and 2023 Premiums Written
Premiums Earned
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Schedule V - Valuation and Qualifying Accounts |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule V - Valuation and Qualifying Accounts | SCHEDULE V - VALUATION AND QUALIFYING ACCOUNTS For the Twelve Months Ended December 31, 2025, 2024 and 2023 The following table shows the movement in the Company’s valuation and qualifying accounts during the twelve months ended December 31, 2025, 2024 and 2023:
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Insider Trading Policies and Procedures |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Insider Trading Policies and Procedures [Line Items] | |
| Insider Trading Policies and Procedures Adopted | true |
Cybersecurity Risk Management and Strategy Disclosure |
12 Months Ended |
|---|---|
Dec. 31, 2025 | |
| Cybersecurity Risk Management, Strategy, and Governance [Line Items] | |
| Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block] | We maintain an enterprise-wide information security and cyber risk management framework (“Framework”) that is designed to protect our information, assets and systems and comply with applicable data security and privacy laws and regulations, in all jurisdictions in which we operate. Our Information Security and Cyber Risk Management Policy is aligned with the National Institute of Standards and Technology (“NIST”) cybersecurity framework and sets out our internal framework to enable a consistent and coordinated approach to ensure that information security risks are adequately addressed in a manner proportionate to the nature, scale and complexity of our operations. Our framework is designed to protect information from the time it is created, through its useful life, to its ultimate authorized disposal. Our cybersecurity program is designed to provide reasonable assurance that we will have efficient and effective operations; safeguard our assets; produce reliable reporting; comply with applicable laws and regulations; and to identify, protect, detect and respond to, and manage, reasonably foreseeable cybersecurity risks and threats. Our Framework is a key part of our internal control system and uses risk management processes to enable informed and prioritized decisions regarding information and cybersecurity. Effective identification of information security and cyber risk enable us to focus and prioritize risk management efforts and determine resources required to manage the risks. We regularly assess risks from cybersecurity and technology threats and monitor our information systems for potential vulnerabilities and incidents. Risk identification processes span the entity, segment, function, and operational levels, to capture key risks within business processes, group-wide risks that are not directly associated with an individual function or process, and changes that could impact the internal control environment. Risk assessment involves a dynamic and iterative process for analyzing information security and cyber risks in order to form the basis for classifying information assets according to their value, sensitivity, and criticality; and for determining how risks should be managed, in accordance with our risk tolerance. Our risk assessment considers threats, vulnerabilities, exploitability, likelihood, and magnitude of impact to our operations, assets, individuals and facilities. Risk assessments also consider risk from external parties, including contractors who operate systems on our behalf, individuals who access our systems or data, service providers, and outsourcing entities. Risk assessments play an important role in the control selection processes. As internal and external circumstances change over time, risk identification also captures emerging information security and cyber risks. These and other emerging risks are reported to the Risk Committee of the Board. Identified risks are recorded in the Group risk register and categorized, using the NIST security control family taxonomy to categorize and aggregate risk information. Once identified, all key information security and cyber risks are assessed to form the basis for determining how risks should be managed. After information security and cyber controls are implemented, they are regularly monitored and evaluated to determine whether the controls are implemented correctly, operate as intended, produce the desired outcome, and continue to comply with laws, regulations and contractual requirements. Monitoring helps to maintain a dynamic understanding of the Group’s risk profile and identify control deficiencies which require remediation actions. As part of our risk management process, we conduct application security assessments, vulnerability management, penetration testing, employee phishing testing, security audits, and ongoing risk assessments. We also maintain a variety of incident response plans that are utilized when incidents are detected. We require employees with access to information systems, including all employees, to undertake data protection and cybersecurity training and compliance programs annually. Where possible, with respect to our cyber risk management processes, controls are implemented with a corresponding performance scale which is used as the basis for establishing monitoring via Key Risk Indicators (“KRIs”). KRIs are measured against the acceptable level of variance in performance relative to the achievement of control objectives and indicate whether controls are adequately addressing risk and whether risks are changing over time. KRIs that fall outside of pre-established thresholds trigger a more thorough management review and assessment, and where appropriate, any necessary adjustments to controls. Control deficiencies that result in exposures that exceed tolerance will be subject to a monitored mitigation plan with an agreed timeline to reduce residual risk to within the tolerance; and included in risk reporting. In such a case, the risk is implicitly temporarily accepted while mitigation actions progress. The development and ownership of an appropriate response is determined by relevant first line stakeholders in consultation with the Group Chief Information Security Officer (“CISO”). The action plan should be proportionate to the level of exposure and include defined actions aligned to the underlying causes. In some cases, it might be determined that the exposure exceeds risk tolerance and cannot be brought within acceptable levels through any combination of mitigation or risk transfer. In this case, the applicable business function owner will consult with the CISO to determine the best course of action (e.g., through risk avoidance, an exception process, or increased security requirements for the relevant system/process). Exceptions and risk avoidance circumstances should be rare and will be recorded and reported to the Group Executive Committee. Notably, risk avoidance is not the same as ignoring a risk. See "Risk Factors - A failure in our data security and/or technology systems or infrastructure or those of third parties, including those caused by security breaches or cyber-attacks could disrupt our business, damage our reputation and cause losses." In the normal course, we engage assessors, consultants and other third parties to assist in various cyber-related matters. These engagements cover a range of risk mitigation activities such as threat detection, penetration testing and red/purple team cyber-attack simulations. We have implemented processes to identify and manage risks from cybersecurity threats associated with our use of such third-party service providers, including in relation to information security, particularly for personal information. These controls include contractual requirements to meet certain information security and testing requirements, alongside ongoing oversight procedures.
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| Cybersecurity Risk Management Processes Integrated [Flag] | true |
| Cybersecurity Risk Management Processes Integrated [Text Block] | Our cybersecurity program is designed to provide reasonable assurance that we will have efficient and effective operations; safeguard our assets; produce reliable reporting; comply with applicable laws and regulations; and to identify, protect, detect and respond to, and manage, reasonably foreseeable cybersecurity risks and threats. Our Framework is a key part of our internal control system and uses risk management processes to enable informed and prioritized decisions regarding information and cybersecurity. |
| Cybersecurity Risk Management Third Party Engaged [Flag] | true |
| Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] | true |
| Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] | false |
| Cybersecurity Risk Board of Directors Oversight [Text Block] | Management has responsibility to manage risk and bring to the Board’s attention the most material near-term and long-term risks to the Company. The Company’s CISO leads management’s assessment and management of cybersecurity risk and is responsible for defining the Framework, and for establishing and maintaining security policies, standards and guidelines for group-wide applicability. Our Company CISO has extensive experience in IT and cybersecurity in particular, spanning over 20+ years within multiple industries including but not limited to financial services. As of December 31, 2025 and through to the Merger, the CISO reports to the Chief Information Officer, who report to the Group Chief Operating Officer, who in turn reports directly to the Company’s Group Chief Executive Officer. Prior to the closing of the Merger, the Board delegated certain of its responsibilities related to the Group’s cybersecurity program to the Risk Committee, which, on behalf of the Board, reviews at least once annually, the Group’s cybersecurity program, its effectiveness, and related exposures and risks, including actions underway or planned to reduce these risks. This review and oversight may generally encompass data breach risk; cyber prevention and detection controls; privacy matters; incident response plan; third-party cyber risk; cyber trends and events; and other cyber topics determined jointly by management and the Risk Committee. In carrying out this role, the Risk Committee takes into account the relevant work of the CISO. A presentation on cybersecurity matters is made to the Risk Committee at least once annually, and the Board receives updates on operational risks, including cybersecurity matters, at its regular quarterly meetings from the Group Chief Operating Officer, alongside second-line oversight updates from the Group Chief Risk Officer and the Risk Committee. The Internal Audit function also provides third-line oversight of cyber risk elements through periodic testing of our cyber procedures, the results of which are reported to the Risk Committee and subsidiary boards of directors as appropriate. On the recommendation of the Risk Committee, the Board considers the Group Information Security and Risk Management Policy on an annual basis and oversees our annual enterprise risk assessment on at least an annual basis to assess key risks within the business, including security and technology risks and cybersecurity threats. As a result of the closing of the Merger, certain of the Board’s committees, including the Risk Committee, were discontinued, and the full Board assumed the responsibilities previously delegated to the Risk Committee.
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| Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] | he Risk Committee, which, on behalf of the Board, reviews at least once annually, the Group’s cybersecurity program, its effectiveness, and related exposures and risks, including actions underway or planned to reduce these risks. |
| Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block] | to the Risk Committee at least once annually, and the Board receives updates on operational risks, including cybersecurity matters, at its regular quarterly meetings from the Group Chief Operating Officer, alongside second-line oversight updates from the Group Chief Risk Officer and the Risk Committee. The Internal Audit function also provides third-line oversight of cyber risk elements through periodic testing of our cyber procedures, the results of which are reported to the Risk Committee and subsidiary boards of directors as appropriate. |
| Cybersecurity Risk Role of Management [Text Block] | Management has responsibility to manage risk and bring to the Board’s attention the most material near-term and long-term risks to the Company. The Company’s CISO leads management’s assessment and management of cybersecurity risk and is responsible for defining the Framework, and for establishing and maintaining security policies, standards and guidelines for group-wide applicability. Our Company CISO has extensive experience in IT and cybersecurity in particular, spanning over 20+ years within multiple industries including but not limited to financial services. As of December 31, 2025 and through to the Merger, the CISO reports to the Chief Information Officer, who report to the Group Chief Operating Officer, who in turn reports directly to the Company’s Group Chief Executive Officer.
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| Cybersecurity Risk Management Positions or Committees Responsible [Flag] | true |
| Cybersecurity Risk Management Positions or Committees Responsible [Text Block] | he Risk Committee, which, on behalf of the Board, reviews at least once annually, the Group’s cybersecurity program, its effectiveness, and related exposures and risks, including actions underway or planned to reduce these risks. This review and oversight may generally encompass data breach risk; cyber prevention and detection controls; privacy matters; incident response plan; third-party cyber risk; cyber trends and events; and other cyber topics determined jointly by management and the Risk Committee. In carrying out this role, the Risk Committee takes into account the relevant work of the CISO. A presentation on cybersecurity matters is made to the Risk Committee at least once annually, and the Board receives updates on operational risks, including cybersecurity matters, at its regular quarterly meetings from the Group Chief Operating Officer, alongside second-line oversight updates from the Group Chief Risk Officer and the Risk Committee. The Internal Audit function also provides third-line oversight of cyber risk elements through periodic testing of our cyber procedures, the results of which are reported to the Risk Committee and subsidiary boards of directors as appropriate. |
| Cybersecurity Risk Management Expertise of Management Responsible [Text Block] | Our Company CISO has extensive experience in IT and cybersecurity in particular, spanning over 20+ years within multiple industries including but not limited to financial services. As of December 31, 2025 and through to the Merger, |
| Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] | to the Risk Committee at least once annually, and the Board receives updates on operational risks, including cybersecurity matters, at its regular quarterly meetings from the Group Chief Operating Officer, alongside second-line oversight updates from the Group Chief Risk Officer and the Risk Committee. The Internal Audit function also provides third-line oversight of cyber risk elements through periodic testing of our cyber procedures, the results of which are reported to the Risk Committee and subsidiary boards of directors as appropriate. |
| Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] | true |
Basis of Preparation and Significant Accounting Policies Basis of Preparation and Significant Accounting Policies (Policies) |
12 Months Ended |
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Dec. 31, 2025 | |
| Accounting Policies [Abstract] | |
| Use of Estimates | Use of Estimates Assumptions and estimates made by management have a significant effect on the amounts reported within the consolidated financial statements. The most significant of these relate to losses and loss adjustment expenses, reinsurance recoverables, gross written premiums and commissions which have not been reported to the Company such as those relating to proportional treaty reinsurance contracts, unrecognized tax benefits, recoverability of deferred tax assets, the fair value of derivatives and the fair value of other and privately-held investments. All material assumptions and estimates are regularly reviewed and adjustments made as necessary but actual results could be significantly different from those expected when the assumptions or estimates were made. |
| Accounting for Insurance and Reinsurance Operations | Accounting for Insurance and Reinsurance Operations Premiums Earned. Premiums are generally recorded as written on the inception date of a policy. For proportional reinsurance treaty contracts, written premiums are generally recorded as the reinsured policies attach to the treaty. For multi-year insurance or reinsurance contracts, written premiums are recorded based on the contract terms. Premiums are recognized as revenues proportionately over the coverage period. Premiums earned are recorded in the consolidated statements of operations, net of the cost of purchased reinsurance. Premiums written which are not yet recognized as earned premium are recorded in the consolidated balance sheet as unearned premiums. Written and earned premiums and the related costs include estimates for premiums which have not been finally determined. These relate mainly to contractual provisions for the payment of adjustment or additional premiums, premiums payable under proportional treaties and delegated underwriting authorities, and reinstatement premiums. Adjustment and additional premiums are premiums charged which relate to experience during the policy term. The proportion of adjustable premiums included in the premium estimates varies between business lines with the largest adjustment premiums being in property and casualty reinsurance, marine, aviation and energy insurance and the smallest in property and casualty insurance. Premiums under proportional treaty contracts and delegated underwriting authorities are generally not reported to the Company until after the reinsurance coverage is in force. As a result, an estimate of these “pipeline” premiums is recorded. The Company estimates pipeline premiums based on projections of ultimate premium taking into account reported premiums and expected development patterns. Reinstatement premiums on assumed excess of loss reinsurance contracts are provided based on experience under such contracts. Reinstatement premiums are the premiums charged for the restoration of the reinsurance limit of an excess of loss contract to its full amount after payment by the reinsurer of losses as a result of an occurrence. The original premiums are recognized as revenue in full at the date of loss, with the reinstatement premiums recognized as revenue over the remaining cover term. Reinstatement premiums provide future insurance cover for the remainder of the initial policy term. Credit Losses on Underwriting Premiums Receivable. Underwriting premium receivable balances are reported net of an allowance for expected credit losses. The allowance, based on ongoing review and monitoring of amounts outstanding, historical loss data, including write-offs and other current economic factors, is charged to net income in the period the receivable is recorded and revised in subsequent periods to reflect changes in the Company’s estimate of expected credit losses. For most insurance policies, credit risk is partially mitigated by the Company’s ability to cancel the policy if the policyholder does not pay the premium whereby, upon default, policy liabilities would be written-down along with premium receivables. Losses and Loss Adjustment Expenses. Losses represent the amount paid or expected to be paid to claimants in respect of events that have occurred on or before the balance sheet date. The costs of investigating, resolving and processing these claims are known as loss adjustment expenses (“LAE”). The consolidated statements of operations records these losses net of reinsurance, meaning that gross losses and loss adjustment expenses incurred are reduced by the amounts recovered or expected to be recovered under reinsurance contracts. Reinsurance. Written premiums, earned premiums, incurred claims, LAE and the acquisition costs all reflect the net effect of assumed and ceded reinsurance transactions. Assumed reinsurance refers to the Company’s acceptance of certain insurance risks that other insurance companies have underwritten. Ceded reinsurance arises from contracts under which other insurance companies agree to share certain risks with the Company. Reinsurance accounting is followed when there is risk transfer, which includes significant timing risk, underwriting risk, and where applicable, a reasonable possibility of significant loss. Outward reinsurance premiums, which are paid when the Company purchases reinsurance or retrocessional coverage, are accounted for using the same accounting methodology as the Company uses for inwards premiums. Premiums payable under reinsurance contracts that operate on a “losses occurring during” basis are expensed over the period of coverage while those arising from “risks attaching during” policies are expensed over the earnings period of the underlying premiums written from the reinsured business. Adjustment premiums and reinstatement premiums in relation to outward reinsurance are accrued when it is determined that the ultimate losses will trigger a payment and recognized within premiums payable. Reinsurance and retrocession does not isolate the ceding company from its obligations to policyholders. In the event that a reinsurer or retrocessionaire fails to meet its obligations, the ceding company’s obligations remain. Accounting for Retroactive Reinsurance Agreements. Retroactive reinsurance agreements are reinsurance agreements under which a reinsurer agrees to reimburse the Company as a result of past insurable events. For retroactive reinsurance purchased by the Company, the excess of the amounts ultimately collectible under the agreement over the consideration paid is recognized as a deferred gain liability which is amortized into income over the settlement period of the ceded reserves once the paid losses have exceeded the minimum retention. The amount of the deferral is recalculated each period based on actual loss payments and updated estimates of ultimate losses. If the consideration paid exceeds the ultimate losses collectible under the agreement, the net loss on the retroactive reinsurance agreement is recognized within income immediately. Premiums payable for retroactive reinsurance coverage and meeting the conditions of reinsurance accounting are reported as reinsurance recoverables to the extent that those amounts do not exceed recorded liabilities relating to underlying reinsurance contracts. Premiums paid in excess of accounts receivable are charged to income. Reserves. Insurance reserves are established for the total unpaid cost of claims and LAE in respect of events that have occurred by the balance sheet date, including the Company’s estimates of the total cost of claims incurred but not yet reported (“IBNR”). Claim reserves are reduced for estimated amounts of salvage and subrogation recoveries. Estimated amounts recoverable from reinsurers on unpaid losses and LAE are reflected as assets. For reported claims, reserves are established on a case-by-case basis within the parameters of coverage provided in the insurance policy or reinsurance agreement. For IBNR claims, reserves are estimated using a number of established actuarial methods to establish a range of estimates from which a management best estimate is selected. Both case and IBNR reserve estimates consider variables such as past loss experience, changes in legislative conditions, changes in judicial interpretation of legal liability, policy coverages and inflation. As many of the coverages underwritten involve claims that may not be ultimately settled for many years after they are incurred, subjective judgments as to the ultimate exposure to losses are an integral and necessary component of the loss reserving process. The Company regularly reviews its reserves, using a variety of statistical and actuarial techniques to analyze current claims costs, frequency and severity data, and prevailing economic, social and legal factors. Reserves established in prior periods are adjusted as claim experience develops and new information becomes available. Adjustments to previously estimated reserves are reflected in the financial results of the period in which the adjustments are made. The process of estimating required reserves does, by its very nature, involve considerable uncertainty. The level of uncertainty can be influenced by factors such as the existence of coverage with long duration payment patterns and changes in claims handling practices, as well as the factors noted above. Ultimate actual payments for claims and LAE could turn out to be significantly different from the Company’s estimates. Credit Losses on Reinsurance Recoverables. Amounts recoverable from reinsurers are estimated in a manner consistent with the claim liability with the reinsured business. The Company maintains credit risk if a reinsurer is unable to pay recoverables when they become due. To manage this risk, the Company evaluates the financial condition of its reinsurers and retrocessionaires, and monitors concentration of credit risk to minimize its exposure to significant losses from individual reinsurers. To further reduce credit exposure on reinsurance recoverables, the Company has received collateral, including letters of credit and trust accounts, from certain reinsurers. Following the adoption of ASC 326, an allowance is established for expected credit losses to be recognized over the life of the reinsurance recoverable. The allowance considers the current financial strength of the individual reinsurer and the amount of collateral held. Acquisition Costs. The costs directly related to writing a (re)insurance policy are referred to as acquisition expenses and include commissions, premium taxes and profit commissions. With the exception of profit commissions, these expenses are incurred when a policy is issued, and only the costs directly related to the successful acquisition of new and renewal insurance and reinsurance contracts are deferred and amortized over the same period as the corresponding premiums are recorded as revenues. Profit commissions are estimated and accrued based on the related performance criteria evaluated at the balance sheet date, with subsequent changes to those estimates recognized when they occur. Commissions received related to reinsurance premiums ceded are netted against broker commissions in determining acquisition costs eligible for deferral. On a regular basis a premium deficiency analysis is performed of the deferred acquisition costs in relation to the expected recognition of revenues, including anticipated investment income, and adjustments, if any, are reflected as period costs. Should the analysis indicate that the acquisition costs are unrecoverable, further analyses are performed to determine if a reserve is required to provide for losses which may exceed the related unearned premium. General and Administrative Expenses. These costs represent the expenses incurred in running the business and include, but are not limited to compensation costs for employees, rental costs, IT development and professional and consultancy fees. General and administrative costs directly attributable to the successful acquisition of business are deferred and amortized over the same period as the corresponding premiums are recorded as revenues. When reporting the results for its business segments, the Company includes expenses which are directly attributable to the segment plus an allocation of central administrative costs. Corporate Expenses. Corporate expenses are not allocated to the Company’s business segments as they typically do not fluctuate with the levels of premium written and are related to the Company’s operations which include group executive costs, group finance costs, group legal and actuarial costs and certain strategic and other costs.
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| Accounting for Investments, Cash and Cash Equivalents | Accounting for Investments, Cash and Cash Equivalents Fixed Income Securities. The fixed income securities portfolio comprises securities issued by governments and government agencies, corporate bonds, mortgage and other asset-backed securities and bank loans. Investments in fixed income securities are classified as available for sale or trading and are reported at estimated fair value in the consolidated balance sheet. Investment transactions are recorded on the trade date with balances pending settlement reflected in the consolidated balance sheet under receivables for securities sold and payables for securities purchased, respectively. Fair values are based on quoted market prices and other data provided by third-party pricing services. Short-term Investments. Short-term investments primarily comprise highly liquid debt securities with a maturity greater than three months but less than one year from the date of purchase and are held as part of the investment portfolio of the Company. Short-term investments are classified as either trading or available for sale and reported at estimated fair value. Catastrophe Bonds. Investments in catastrophe bonds are classified as trading and are reported on the consolidated balance sheet at estimated fair value. The fair values are based on independent broker-dealer quotes. Privately-held Investments. The Company’s privately-held investments primarily comprise commercial mortgage loans, middle market loans and other private debt, asset-backed securities and global corporate securities. These investments are classified as trading or available for sale and are reported on the consolidated balance sheet at estimated fair value. Privately-held investments are initially valued at cost or transaction value which approximates fair value. In subsequent measurement periods, the fair values of these securities are primarily determined using discounted cash flow models. Interest income is accrued on the principal amount of the loan based on its contractual interest rate subject to it being probable that we will receive interest on that particular underlying loan. Interest income, amortization of premiums and discounts, and prepayment fees are reported in net investment income on the consolidated statements of income. Investments, Equity Method. These investments represent the Company’s investments in partially owned insurance and related companies that are recorded using the equity method of accounting. The carrying value of these investments are based on the Company’s proportionate share of GAAP equity. Other Investments. Other investments represent the Company’s investments in investment funds that are reported at net asset value. For these investments, net asset value is used as a practical expedient for fair value. Cash and Cash Equivalents. Cash and cash equivalents are reported at fair value. Cash and cash equivalents comprise cash on hand, deposits held on call with banks and other short-term highly liquid investments due to mature within three months from the date of purchase and which are subject to insignificant risk of change in fair value. Gains and Losses. Realized gains or losses on the sale of investments are determined on the basis of the first in first out cost method and are recorded in revenue or expenses respectively. Unrealized gains and losses represent the difference between the cost, or the cost as adjusted by amortization of any difference between its cost and its redemption value (“amortized cost”), of the security and its fair value at the reporting date and are included within other comprehensive income for securities classified as available for sale and in realized and unrealized investment gains or losses in the consolidated statement of operations for securities classified as trading. Credit Losses on Available for Sale Debt Securities. An allowance account for credit losses is recognized for available for sale debt securities based on a review of individual securities. Write-offs are recorded when amounts are deemed uncollectible, or Aspen intends to sell (or more likely than not will be required to sell) the debt security before recovery of the amortized cost basis. The amortized cost basis will be written down to the debt securities fair value through earnings. Credit losses are limited to the difference between the debt securities amortized cost basis and fair value. Any decline in the debt securities fair value below the amortized cost basis that is not a result of a credit loss is recorded through other comprehensive income, net of applicable taxes. The allowance for credit losses of a security may be increased or reversed upon a change in credit position with the change reflected in net income. The credit loss models employ a discounted cash flow approach to evaluate whether a credit loss exists at the individual security level and are reviewed at each reporting period. This analysis excludes investments in U.S. Government / Agency bonds and U.S. Government Agency mortgage-backed securities due to being of ‘high credit quality’ based on the absence of risk. For any available for sale debt securities that were initially purchased with credit deterioration, the amortized cost basis shall be considered to be the purchase price, plus any allowance for credit losses. Estimated credit losses shall be discounted at the rate that equates the present value of the purchaser’s estimate of the security’s future cash flows with the purchase price of the asset. Net Investment Income. Investment income includes amounts received and accrued in respect of periodic interest (“coupons”) payable to the Company by the issuer of fixed income securities, equity dividends and interest credited on cash and cash equivalents. It also includes amortization of premium and accretion of discount in respect of fixed income securities. Investment income also includes changes in fair value from investments in real estate funds. Investment management and custody fees are charged against net investment income reported in the consolidated statement of operations.
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| Accounting for Derivative Financial Instruments | Accounting for Derivative Financial Instruments The Company enters into derivative instruments to manage certain market risks, such as forward exchange contracts used to reduce foreign currency risk relative to the U.S. dollar. The Company records derivative instruments at fair value on the Company’s consolidated balance sheet as either assets or liabilities, depending on their rights and obligations. The accounting for the gain or loss due to the changes in the fair value of these instruments is dependent on whether the derivative qualifies as a hedge. If the derivative does not qualify as a hedge, the gains or losses are reported in the consolidated statement of operations when they occur and classified within Change in fair value of derivatives. If the derivative qualifies as a hedge, the accounting treatment varies based on the type of risk being hedged. There are two primary types of hedging relationships that may be used for accounting purposes: fair value hedge and cash flow hedge. A fair value hedge is designed to offset changes in the fair value of an underlying asset or liability, and the gain or loss from the hedging instrument offsets the change in fair value of the underlying asset or liability. Under fair value hedge accounting, both the gain or loss from the underlying asset or liability and the gain or loss from the hedging instrument are recognized in earnings in the same period. In contrast, a cash flow hedge is designed to offset changes in cash flows of an underlying asset or liability. The gain or loss from the hedging instrument is initially recognized in other comprehensive income. As the contracts settle, the realized gain or loss is reclassified from other comprehensive income into the consolidated statement of operations. The loss portfolio transfer contract included a funds withheld arrangement that provided a variable interest expense based on Aspen’s investment performance. As a result, this funds withheld arrangement was considered an embedded derivative and accounted for as an option-based derivative. Since the economic characteristics and risks of an embedded derivative feature are not clearly and closely related to the economic characteristics and risks of the host contract, the embedded derivative was bifurcated and accounted for separately at fair value. The Company records subsequent changes in the embedded derivative fair value in the consolidated statement of operations.
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| Accounting for Intangible Assets | Accounting for Intangible Assets Intangible assets are held in the consolidated balance sheet at cost less amortization and impairment. Amortization applies on a straight-line basis in respect of assets having a finite estimated useful economic life. Finite intangibles are assessed on an annual basis for impairment, or more frequently where circumstances indicate the carrying value may not be recoverable. For intangible assets considered to have an indefinite life, the Company performs a qualitative assessment annually to determine whether it is more likely than not that an intangible asset is impaired. Goodwill is assessed annually for impairment or more frequently if circumstances indicate an impairment may have occurred.
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| Accounting for Office Properties and Equipment | Accounting for Office Properties and Equipment Office properties and equipment are reported at cost less accumulated depreciation. These assets are depreciated on a straight-line basis over the estimated useful lives of the assets. Computer equipment is depreciated between and five years, furniture and fittings are depreciated over four years and leasehold improvements are depreciated over the lesser of 15 years or the lease term. IT development costs that are directly associated with the development of identifiable and unique software products and that are anticipated to generate economic benefits exceeding costs beyond one year, are recognized within office properties and equipment. Costs include external consultants’ fees, certain qualifying internal staff costs and other costs incurred to develop software programs. Software is depreciated over their estimated useful life, between and five years, on a straight-line basis and is subject to impairment testing annually. Depreciation commences when the asset becomes operational. Other non-qualifying costs are expensed as incurred.
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| Accounting for Right-of-Use Operating Lease Assets | Accounting for Leases In the ordinary course of the business, the Company renews and enters into new leases for office real estate and other assets. At the lease inception date, the Company determines whether a contract contains a lease and recognizes operating lease Right-of-use assets and operating lease liabilities based on the present value of future minimum lease payments. As our leases do not provide an implicit interest rate, we use our incremental borrowing rate based on the information available at the commencement date to determine the present value of future payments. For all office real estate leases, rent incentives, including reduced-rent and rent-free periods and contractually agreed rent increases during the lease term, have been included when determining the present value of future cash flows. Right-of-use operating lease assets are reported at cost less accumulated depreciation on the consolidated balance sheet and depreciated over the lease term. The Company does not record office property and equipment leases with an initial term of 12 months or less (short-term) in the Company's consolidated balance sheets. Such short-term leases are expensed through the consolidated statement of operations. Right-of-use operating lease assets are tested for impairments whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the carrying value of an asset is impaired, it is reduced to the recoverable amount by an immediate charge to the income statement. The recoverable amount is the higher of an asset’s fair value less costs to sell and value in use.
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| Accounting for Foreign Currencies Translation | Accounting for Foreign Currencies Translation The functional currency of the Company and its subsidiaries is the U.S. Dollar, which is also the Company’s reporting currency. Transactions in currencies other than the functional currency are measured at the exchange rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in non-functional currencies are remeasured at the exchange rate prevailing at the balance sheet date and any resulting foreign exchange gains or losses are reflected in the consolidated statement of operations. Foreign exchange gains or losses related to available for sale investments denominated in non-functional currencies are included within other comprehensive income. Non-monetary assets and liabilities are remeasured to functional currency at historic exchange rates.
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| Accounting for Income Tax | Accounting for Income Taxes Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and for operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. When the Company does not believe that, on the basis of available information, it is more likely than not that deferred tax assets will be fully recovered, it recognizes a valuation allowance against its deferred tax assets to reduce the deferred tax assets to the amount more likely than not to be realized. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Furthermore, a tax benefit from a tax position may be recognized in the financial statements only if it is more-likely-than-not that the position is sustainable, based solely on its technical merits and consideration of the relevant tax authority’s widely understood administrative practices and precedents. The Company applies a portfolio approach to release the income tax effects in accumulated other comprehensive income. Under this approach, the income tax effects upon the sale of an available for sale debt security, settlement of hedged transactions and upon foreign currency translation adjustments for each period, are determined under the intra-period tax allocation approach. Any tax effects remaining in accumulated other comprehensive income are only released when the entire portfolio is liquidated, sold or extinguished. The Company has or will claim substance-based refundable tax credits it is eligible for in Bermuda. These refundable tax credits are generally based on a percentage of eligible expenditures related to compensation costs, other operating expenses and corporate expenses. The Company recognizes the benefit of refundable tax credits as reductions to the related expenses in the consolidated statement of operations in the period it is probable the conditions for receiving the refundable tax credit will be satisfied.
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| Accounting for Preference Shares | Accounting for Preference Shares The Company had at the balance sheet date in issue three classes of preference shares. The Company has no obligation to pay interest on these securities but they carry entitlements to dividends payable at the discretion of the Board of Directors. In the event of non-payment of dividends for six consecutive periods, holders of preference shares have director appointment rights. The preference shares are therefore accounted for as equity instruments and included within total shareholders’ equity. |
| Accounting for Share-Based Payments and Long-Term Incentive Plans | Accounting for Share-Based Payments and Long-Term Incentive Plans The Company operates an employee long-term incentive plan, comprised of Performance Units and Exit Units, the terms and conditions of which are described in Note 17. The Company applies a fair-value based measurement method in calculating the compensation costs of Performance Units which are recognized on a straight-line basis over the vesting period. During 2023, selected senior employees were granted Management Equity Plan (“MEP”) stock options to acquire non-voting shares at a management equity vehicle affiliated with the Company at no cost to the employee. Upon completion of the Company’s IPO, the Company introduced the 2025 Equity and Incentive Plan which granted replacement awards in substitution for the MEP legacy share options. The Company issued incentive share options and restricted share units to certain eligible employees, directors and other service providers. The Company measures compensation expense for all share-based payment awards based on estimated fair values at the grant date. The fair value of stock options is estimated using the Black-Scholes option pricing model, which requires the input of subjective assumptions including expected volatility, expected term, risk-free interest rate, and dividend yield. Compensation expense is recognized over the period for which the employee, director or service provider is required to provide services in exchange for the award. The Company has elected to estimate expected forfeitures over the requisite service period. At the Effective Time, each outstanding and unexercised stock option award (a “Company Option Award”) that has an exercise price per Company Share less than the Merger Consideration will be canceled and converted into a contingent right to receive an amount in cash, without interest, equal to the product of (a) the amount by which the Merger Consideration exceeds the applicable per share exercise price of the Company Option Award and (b) the number of Company Shares subject to the Company Option Award (a “Restricted Option Award”), and each Company Option Award with an exercise price per Company Share equal to or greater than the Merger Consideration will be canceled for no consideration. Additionally, at the Effective Time, each outstanding restricted share unit award (a “Company RSU Award”) will be canceled and converted into a contingent right to receive an amount in cash, without interest, equal to the product of (x) the Merger Consideration and (y) the number of Company Shares subject to the Company RSU Award (together with the Restricted Option Awards, a “Restricted Cash Award”). Each Restricted Cash Award will continue to be subject to the same terms and conditions as the corresponding Company Option Award or Company RSU Award except that, (i) the vested portion of each Restricted Option Award will be paid within 15 days after the applicable vesting date, and (ii) if an individual’s employment or service is terminated by the Company or its affiliates without “cause” on or following the Effective Time, all Restricted Cash Awards then-held by such individual will vest in full and be paid within 60 days following the date of such individual’s termination of employment, subject to execution and non-revocation of a standard release of claims.
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| Accounting for Business Combinations | Accounting for Business Combinations The Company accounts for a transaction as a business combination where the assets acquired and liabilities assumed following a transaction constitute a business. An acquired entity must have inputs and processes that make it capable of generating a return or economic benefit to be considered a business. If the assets acquired are not a business, the Company accounts the transaction as an asset acquisition. The Company recognizes and measures at fair value 100 percent of the assets and liabilities of any acquired business. Goodwill is recognized and measured as the difference between the consideration paid or payable less the fair value of assets acquired. The Company accounts for the disposal of subsidiary undertakings when it ceases to control the subsidiary’s assets and liabilities or the group of assets. A gain or loss is recognized and measured as the difference between the fair value of consideration received or receivable and the value of assets, liabilities and equity components de-recognized, related to that subsidiary or group of assets when deconsolidated. Costs that are directly related to a business combination transaction are expensed in the periods in which the costs are incurred and the services are received.
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| Accounting Pronouncements | Accounting Pronouncements Accounting Pronouncements Adopted In December 2023, the FASB issued ASU 2023-09, “Income Taxes (Topic 740) – Improvements to Income Tax Disclosures”. The amendments in this Update provide additional transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. These amendments should be applied on a prospective basis, with the option to apply retrospectively. ASU 2023-09 became effective for the year ended December 31, 2025, and the required disclosures have been included within these consolidated financial statements on a prospective basis, where applicable. Accounting Pronouncements Not Yet Adopted In November 2024, the FASB issued ASU No. 2024-03, “Income Statement – Reporting Comprehensive Income – Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses”. This ASU requires disclosure, in the notes to the financial statements, of specified information about certain costs and expenses. The amendments in this ASU are effective for annual reporting periods beginning after December 15, 2026, and interim periods within annual reporting periods beginning after December 15, 2027. As this guidance relates solely to financial statement disclosures, the adoption of ASU 2024-03 will have no impact upon the Company’s results of operations, financial condition, or liquidity. In September 2025, the FASB issued Accounting Standards Update (“ASU”) No. 2025-06, “Intangibles – Goodwill and Other – Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software.” This ASU amends the accounting guidance for internal-use software to better reflect current development practices by (i) eliminating the requirement to assess software development stages, (ii) introducing a principles-based capitalization threshold, and (iii) consolidating website development cost guidance. The amendments in this ASU are effective for annual and interim periods beginning after December 15, 2027. The Company has evaluated the impact of ASU 2025-06 and determined that its adoption will not have a material impact on its consolidated financial statements. Other accounting pronouncements were issued during the year ended December 31, 2025 which were either not applicable to the Company or did not impact the Company’s consolidated financial statements.
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Segment Reporting (Tables) |
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| Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of gross and net written and earned premiums, underwriting results, ratios and reserves for each of Company's business segments | The following tables provide a summary of gross and net written and earned premiums, underwriting income or loss, ratios and reserves for each of the Company’s business segments for the twelve months ended December 31, 2025, 2024 and 2023:
_______________ (1) Non-operating expenses for the twelve months ended December 31, 2025 includes expenses in relation to replacement awards granted on the successful completion of the IPO, certain consulting fees, non-recurring transformation activities, and other non-recurring costs.
________________ (1) Non-operating expenses for the twelve months ended December 31, 2024 includes expenses in relation to consulting fees, non-recurring transformation program costs, and other non-recurring costs.
_______________ (1) Non-operating expenses for the twelve months ended December 31, 2023 includes expenses in relation to consulting fees, non-recurring transformation activities, and other non-recurring costs.
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| Schedule of gross written premiums based on geographical areas | Geographical Areas. The following summary presents the Company’s gross written premiums based on the location of the insured risk for the twelve months ended December 31, 2025, 2024 and 2023.
______________ (1) “United States & Canada” comprises individual policies that insure risks specifically in the United States and/or Canada, but not elsewhere. (2) “Worldwide excluding the United States” consists of individual policies that insure global risks with the specific exclusion of the United States. (3) “Worldwide including the United States” consists of individual policies that insure global risks with the specific inclusion of the United States. (4) “Other” comprises individual policies that insure risks in other countries including, but not limited to, countries in the Caribbean, South America and the Middle East.
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Investments (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Investment Income | The following table summarizes net investment income for the twelve months ended December 31, 2025, 2024 and 2023:
(1) Other investments primarily represent the Company’s investments in investment funds. The amount reported represents the change in fair value of the investment funds in the period.
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| Net Realized and Unrealized Investment Gains and Losses and Change in Unrealized Gains and Losses on Investments | The following table summarizes the net realized and unrealized investment gains and losses recorded in the consolidated statement of operations and the change in unrealized gains and losses on investments recorded in other comprehensive income for the twelve months ended December 31, 2025, 2024 and 2023:
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| Cost or Amortized Cost, Unrealized and Realized Gains and Losses and Estimated Fair Value of Available for Sale Investments | The following tables present the cost or amortized cost, gross unrealized gains and losses, and estimated fair market value of available for sale investments in fixed income securities, short-term investments and privately-held investments as at December 31, 2025 and December 31, 2024:
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| Cost, Gross Unrealized Gains and Losses, and Estimated Fair Value of Trading Investments in Fixed Income Maturities | The following tables present the cost or amortized cost, gross unrealized gains and losses, and estimated fair market value of trading investments in fixed income securities, short-term investments, catastrophe bonds and privately-held investments as at December 31, 2025 and December 31, 2024:
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| Equity Method Investments | The table below shows the Company’s equity method investments for the twelve months ended December 31, 2025 and 2024:
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| Summary of Fixed Maturities | The scheduled maturity distribution of the Company’s available for sale securities as at December 31, 2025 and December 31, 2024 is set forth below. Actual maturities may differ from contractual maturities because issuers of securities may have the right to call or prepay obligations with or without call or prepayment penalties.
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| Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value | The following tables summarize, by type of security, the aggregate fair value and gross unrealized loss by length of time the security has been in an unrealized loss position for the Company’s available for sale portfolio as at December 31, 2025 and December 31, 2024:
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Fair Value Measurements (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Financial Assets Measured on Recurring Basis | The following tables present the level within the fair value hierarchy at which the Company’s financial assets and liabilities are measured on a recurring basis as at December 31, 2025 and December 31, 2024:
______________ (1) The loss portfolio transfer contract included a funds withheld arrangement that provided variable interest expense based on Aspen’s investment performance. As a result, the funds withheld arrangement was considered an embedded derivative and accounted for as an option-based derivative.
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| Fair Value, Measured on a Recurring Basis, Gain (Loss) Included in Earnings | The following table presents a reconciliation of the beginning and ending balances for all assets and liabilities measured at fair value on a recurring basis using Level 3 inputs for the twelve months ended December 31, 2025 and December 31, 2024:
______________ (1) Increases/(decreases) in the fair value of privately-held investments, trading are included in realized and unrealized investment losses in the consolidated statements of operations and other comprehensive income. Increases/(decreases) in the fair value of derivative liabilities - loss portfolio transfer are included within change in fair value of derivatives in the consolidated statements of operations and other comprehensive income. (2) Increases/(decreases) in the fair value of privately-held investments, available for sale are included in other comprehensive income (“OCI”).
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| Fair Value Inputs, and Valuation Techniques | The following table summarizes the quantitative inputs and assumptions used for financial assets categorized within Level 3 under the fair value hierarchy as at December 31, 2025:
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Reinsurance (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Reinsurance Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Assumed and Ceded Reinsurance on Premiums Written, Premiums Earned and Insurance Losses and Loss Adjustment Expenses | The effect of assumed and ceded reinsurance on premiums written, premiums earned and losses and loss adjustment expenses for the twelve months ended December 31, 2025, 2024 and 2023 was as follows:
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Derivative Contracts (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivative Instruments and Hedging Activities Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Fair Value of Derivative Instruments | The following table summarizes information on the location and amounts of derivative fair values on the consolidated balance sheet as at December 31, 2025 and 2024:
______________ (1) Fair value is net of $Nil of cash collateral (December 31, 2024 — $0.8 million). (2) The LPT contained an embedded derivative within the contract in relation to the variable interest crediting rate, which has now terminated upon repayment of the funds withheld.
______________ (1) Fair value is net of $Nil of cash collateral (December 31, 2024 — $2.0 million).
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| Gain/(Loss) Recognized in Income on Derivative | The following table provides the unrealized and realized gains/(losses) recorded in the consolidated statements of operations and other comprehensive income for derivatives that are not designated or designated as hedging instruments under ASC 815 — “Derivatives and Hedging” for the twelve months ended December 31, 2025 and 2024:
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Deferred Policy Acquisition Costs (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Insurance [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Reconciliation of beginning and ending deferred policy acquisition costs | The following table represents a reconciliation of beginning and ending deferred acquisition costs for the twelve months ended December 31, 2025 and 2024:
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Reserves for Losses and Adjustment Expenses (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Insurance [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Liability for Unpaid Claims and Claims Adjustment Expense | The following table represents a reconciliation of beginning and ending consolidated reserve for losses and loss adjustment expenses for the twelve months ended December 31, 2025, 2024 and 2023:
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| Short-duration Insurance Contracts, Claims Development | The following tables show an analysis of incurred claims and allocated loss adjustment expenses, net of reinsurance and cumulative paid claims and allocated claim adjustment expenses, net of reinsurance for each of the years ended December 31, 2016 through 2025. Under the LPT agreement, the Company has reinsured net losses incurred on all accident years 2019 and prior. This has resulted in IBNR in the loss development triangles for 2019 and prior to be Nil. The loss development triangles are derived from all business written by the Company as although a limited number of contracts are written which have durations of greater than one year the contracts do not meet the definition of a long duration contract. All amounts included in the following tables related to transactions denominated in a foreign currency have been translated into U.S. Dollars using the exchange rates in effect at December 31, 2025. The Company has chosen to disaggregate the business in its Insurance segment, for the purposes of these loss development triangles as: Property; Casualty; Marine, Aviation and Energy; and Financial and Professional insurance lines. The Company considers that this presentation of its Insurance lines loss development triangles more precisely reflects meaningful trending information. The Company presents its loss development triangles for the Reinsurance segment in line with the reportable reinsurance lines: Property Catastrophe and Other Property; Casualty; and Specialty.
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| Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability | Reconciliation of Incurred and Paid Claims Development to total Reserve for Losses and LAE
____________________ (1) Other reinsurance balances recoverable primarily include short term recoverables to be collected.
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| Short-duration Insurance Contracts, Schedule of Historical Claims Duration | Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance (unaudited)
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Income Taxes (Tables) |
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Income Tax Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Total Income Tax | Total income tax expense/(benefit) for the twelve months ended December 31, 2025, 2024 and 2023 was allocated as follows:
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| Schedule of Income Tax by Taxing Authority | Income/(loss) from operations before income taxes and income tax expense/(benefit) attributable to that income/(loss) for the twelve months ended December 31, 2025, 2024 and 2023, disaggregated by domestic/national and foreign operations, is provided in the tables below:
________________ (1) As a result of the Bermuda Corporate Income Tax Act 2023, a 15% corporate income tax has been applied to the Company’s Bermuda operations. All Bermuda income taxes are levied by the Government of Bermuda and are considered national income taxes. The Company has not incurred any Bermuda state income taxes. (2) Current tax expense and deferred tax (benefit) in “Other” relates to the branches of Aspen UK and Aspen Bermuda Limited.
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| Income Tax Reconciliation | The reconciliation between the income tax expense and the amount that would result from applying the statutory rate for the Company, after the adoption of ASU 2023-09, for the twelve months ended December 31, 2025 is provided in the table below:
________________ (1) The submission dates for filing income tax returns for the Company’s U.S. and U.K. operating subsidiaries are after the submission date of these consolidated financial statements. Accordingly, the final tax liabilities may differ from the estimated income tax expense included in these consolidated financial statements and may result in prior year adjustments being reported. The prior period adjustments for the twelve months ended December 31, 2025 predominantly relate to the determination of results under U.K. GAAP, upon which the U.K. tax returns are based. These items can only be reasonably determined on an accurate basis after the Company’s Annual Report on Form 20F has been filed. The reconciliation between the income tax expense and the amount that would result from applying the statutory rate for the Company, prior to the adoption of ASU 2023-09, for the twelve months ended December 31, 2024 and 2023 is provided in the table below:
________________ (1) The submission dates for filing income tax returns for the Company’s U.S. and U.K. operating subsidiaries are after the submission date of these consolidated financial statements. Accordingly, the final tax liabilities may differ from the estimated income tax expense included in these consolidated financial statements and may result in prior year adjustments being reported. The prior period adjustments for the twelve months ended December 31, 2024 predominantly relate to the determination of the results of the U.K. operating subsidiaries and its branches. The prior period adjustments for the twelve months ended December 31, 2023 predominantly relate to the determination of results in the U.K. (2) The decrease in valuation allowance in 2024 related to a change in judgment about the recoverability of deferred tax assets in Aspen UK.
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| Tax Effects of Deferred Tax Assets and Deferred Tax Liabilities | The tax effects of temporary differences and carryforwards that give rise to deferred tax assets and deferred tax liabilities are presented in the following table as at December 31, 2025 and 2024:
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| Summary of Income Tax Payments | The Company made the following tax payments for the twelve months ended December 31, 2025:
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Capital Structure (Tables) |
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Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Authorized and Issued Share Capital | The following table provides a summary of the Company’s authorized and issued share capital as at December 31, 2025 and 2024:
______________ (1) Each depositary share represents a 1/1000th interest in a share of the 5.625% preference shares. (2) Each depositary share represents a 1/1000th interest in a share of the 7.000% preference shares.
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Earnings Per Share (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Earnings Per Share [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Earnings Per Share, Basic and Diluted | The following table presents the computation of basic and diluted earnings per ordinary share for the twelve months ended December 31, 2025, 2024 and 2023.
______________ (1) Basic and diluted weighted average ordinary shares outstanding, and basic and diluted earnings per ordinary share have been retroactively adjusted to reflect the impact of the Ordinary Share Exchange, for all periods presented. Refer to Note 12, “Capital Structure” for further details. (2) The Company’s share options have been excluded from the calculation of diluted earnings per ordinary share for the twelve months ended December 31, 2025, because the effect of including those shares in the calculation would have been anti-dilutive. For further information on the Company’s share options, refer to Note 17, “Share-Based Payments and Long-Term Incentive Plan”.
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Statutory Requirements and Dividends Restrictions (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Disclosure Statutory Requirements And Dividends Restrictions Summary Of Statutory Requirements And Dividends Restrictions [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Statutory Capital and Surplus Requirements | Actual and required statutory capital and surplus for the principal Operating Subsidiaries of the Company, excluding its Lloyd’s syndicate, as at December 31, 2025 and December 31, 2024 were estimated as follows:
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Dividends (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Dividends [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Dividends Payable | In the twelve months ended December 31, 2025, the Company’s Board of Directors paid the following preference share dividends:
(1) 5.625% Preference Shares (AHL PRD) — Perpetual Non-Cumulative Preference Shares. (2) 5.625% Preference Shares (AHL PRE) are represented by depositary shares, each representing a 1/1000th interest in a share of the 5.625% Preference Shares. The dividend paid per depositary share is likewise 1/1000th of the declared dividend, equivalent to $0.3516 per depositary share. (3) 7.000% Preference Shares (AHL PRF) are represented by depositary shares, each representing a 1/1000th interest in a share of the 7.000% Preference Shares. The dividend paid per depositary share is likewise 1/1000th of the declared dividend, equivalent to $0.4375 per depositary share. On March 4, 2026, the Company’s Board of Directors declared dividends of $11.0 million on the Company’s Preference Shares, as follows:
______________ (1) The 5.625% Preference Shares are represented by depositary shares, each representing a 1/1000th interest in a share of the 5.625% Preference Shares. The dividend paid per depositary share is likewise 1/1000th of the declared dividend, equivalent to $0.3516 per depositary share. (2) The 7.000% Preference Shares are represented by depositary shares, each representing a 1/1000th interest in a share of the 7.000% Preference Shares. The dividend paid per depositary share is likewise 1/1000th of the declared dividend, equivalent to $0.4375 per depositary share.
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Share-Based Payments (Tables) |
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Dec. 31, 2025 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Share-Based Payment Arrangement [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award | The following table shows the fair value of the share options, and the significant inputs used in the Black-Scholes option pricing model:
______________ (1) The risk-free interest rate was estimated based on the yield on a U.S. treasury zero-coupon bond issued with a remaining term equal to the expected term of the share options. (2) The contractual term is 10 years from the date of grant. (3) As the Company does not have sufficient trading history, the expected share price volatility was estimated based on the historical volatilities of a selected peer group of comparable companies over a period commensurate with the expected term of the options.
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Operating Leases (Tables) |
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Leases [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Lease, Cost | Operating lease charge. The following table summarizes the operating lease charge for the twelve months ended December 31, 2025, 2024 and 2023:
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| Lessee, Operating Lease, Liability | Lease Liabilities. The following table summarizes the maturity of lease liabilities under non-cancellable leases as of December 31, 2025 and 2024:
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| Summary of Other Lease Information | Other lease information. The following table summarizes the cash flows on operating leases for the twelve months ended December 31, 2025, 2024 and 2023 and other supplemental information:
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Related Party Disclosures (Tables) |
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| Related Party Transactions [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Related Party Transactions | Balances relating to these contracts are reflected in the consolidated statement of operations for the twelve months ended December 31, 2025, and the consolidated balance sheet as at December 31, 2025, as follows:
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Commitments and Contingencies (Tables) |
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| Commitments and Contingencies Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Company's Restricted Assets | The following table details the forms and values of the Company’s material restricted assets as at December 31, 2025 and 2024:
_____________ (1) As at December 31, 2025, the Company had pledged funds of $101.8 million (December 31, 2024 — $153.2 million) as collateral for the secured letters of credit. (2) Investable assets comprise total investments, cash and cash equivalents, accrued interest, receivables for securities sold and payables for securities purchased.
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Reclassifications from Accumulated Other Comprehensive Income (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Equity [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Accumulated Other Comprehensive Income Reclassification | The following table sets out the components of the Company’s Accumulated Other Comprehensive Income (“AOCI”) that are reclassified into the consolidated statement of operations for the twelve months ended December 31, 2025, 2024 and 2023:
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Credit Facility and Long-term Debt (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Summary of Contractual Obligations Under Long-term Debts | The following table summarizes our contractual obligations under long-term debt as at December 31, 2025.
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Credit Losses (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Credit Loss [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt Securities, Available-for-Sale, Allowance for Credit Loss | The following tables summarize the Company’s allowance for credit losses for the twelve months ended December 31, 2025 and December 31, 2024 in available for sale investments, reinsurance recoverables and receivables:
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| Reinsurance Recoverable, Allowance for Credit Loss |
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Subsequent Events (Tables) |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2025 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Subsequent Events [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Dividends Payable | In the twelve months ended December 31, 2025, the Company’s Board of Directors paid the following preference share dividends:
(1) 5.625% Preference Shares (AHL PRD) — Perpetual Non-Cumulative Preference Shares. (2) 5.625% Preference Shares (AHL PRE) are represented by depositary shares, each representing a 1/1000th interest in a share of the 5.625% Preference Shares. The dividend paid per depositary share is likewise 1/1000th of the declared dividend, equivalent to $0.3516 per depositary share. (3) 7.000% Preference Shares (AHL PRF) are represented by depositary shares, each representing a 1/1000th interest in a share of the 7.000% Preference Shares. The dividend paid per depositary share is likewise 1/1000th of the declared dividend, equivalent to $0.4375 per depositary share. On March 4, 2026, the Company’s Board of Directors declared dividends of $11.0 million on the Company’s Preference Shares, as follows:
______________ (1) The 5.625% Preference Shares are represented by depositary shares, each representing a 1/1000th interest in a share of the 5.625% Preference Shares. The dividend paid per depositary share is likewise 1/1000th of the declared dividend, equivalent to $0.3516 per depositary share. (2) The 7.000% Preference Shares are represented by depositary shares, each representing a 1/1000th interest in a share of the 7.000% Preference Shares. The dividend paid per depositary share is likewise 1/1000th of the declared dividend, equivalent to $0.4375 per depositary share.
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History, Organization and Business Combination Narrative (Details) - $ / shares |
12 Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|
Mar. 04, 2026 |
May 08, 2025 |
Nov. 26, 2024 |
Aug. 13, 2019 |
Sep. 20, 2016 |
Dec. 31, 2025 |
Dec. 31, 2024 |
Feb. 24, 2026 |
May 01, 2025 |
|
| Class of Stock [Line Items] | |||||||||
| Ordinary shares, par value | $ 0.001 | $ 0.001 | $ 0.001 | ||||||
| Subsidiary, Sale of Stock [Line Items] | |||||||||
| Percentage of ownership after transaction | 82.10% | ||||||||
| Aspen Insurance Holdings Limited | |||||||||
| Class of Stock [Line Items] | |||||||||
| Business acquisition, share price | $ 37.50 | ||||||||
| Aspen Insurance Holdings Limited | Subsequent Event | |||||||||
| Class of Stock [Line Items] | |||||||||
| Ordinary shares, par value | $ 1.00 | ||||||||
| IPO | |||||||||
| Subsidiary, Sale of Stock [Line Items] | |||||||||
| Number of sale of shares in IPO | 13,250,000 | ||||||||
| Over-Allotment Option | |||||||||
| Subsidiary, Sale of Stock [Line Items] | |||||||||
| Number of sale of shares in IPO | 1,987,500 | ||||||||
| 5.625% Preference Shares (AHL PRD) | |||||||||
| Class of Stock [Line Items] | |||||||||
| Preference shares, rate | 5.625% | 5.625% | |||||||
| 5.625% Preference Shares (AHL PRD) | Subsequent Event | |||||||||
| Class of Stock [Line Items] | |||||||||
| Preference shares, rate | 5.625% | ||||||||
| 5.625% Preference Shares (AHL PRE) | |||||||||
| Class of Stock [Line Items] | |||||||||
| Preference shares, rate | 5.625% | 5.625% | |||||||
| 5.625% Preference Shares (AHL PRE) | Subsequent Event | |||||||||
| Class of Stock [Line Items] | |||||||||
| Preference shares, rate | 5.625% | ||||||||
| 7.00% Preference Shares, rep by Dep Shares (AHL PRF) | |||||||||
| Class of Stock [Line Items] | |||||||||
| Preference shares, rate | 7.00% | 7.00% | 7.00% | ||||||
| 7.00% Preference Shares, rep by Dep Shares (AHL PRF) | Subsequent Event | |||||||||
| Class of Stock [Line Items] | |||||||||
| Preference shares, rate | 7.00% | ||||||||
Basis of Preparation and Significant Accounting Policies - Additional Information (Details) |
12 Months Ended |
|---|---|
|
Dec. 31, 2025
period
| |
| Property, Plant and Equipment [Line Items] | |
| Non-Payment Of Dividends, Number Of Periods | 6 |
| Minimum | Computer Software, Intangible Asset | |
| Property, Plant and Equipment [Line Items] | |
| Property, Plant and Equipment, Useful Life | 3 years |
| Maximum | Computer Software, Intangible Asset | |
| Property, Plant and Equipment [Line Items] | |
| Property, Plant and Equipment, Useful Life | 5 years |
| Furniture and Fixtures | |
| Property, Plant and Equipment [Line Items] | |
| Property, Plant and Equipment, Useful Life | 4 years |
| Leasehold Improvements | |
| Property, Plant and Equipment [Line Items] | |
| Property, Plant and Equipment, Useful Life | 15 years |
| Computer Equipment | Minimum | |
| Property, Plant and Equipment [Line Items] | |
| Property, Plant and Equipment, Useful Life | 3 years |
| Computer Equipment | Maximum | |
| Property, Plant and Equipment [Line Items] | |
| Property, Plant and Equipment, Useful Life | 5 years |
Segment Reporting - Additional Information - Narrative (Details) |
12 Months Ended |
|---|---|
|
Dec. 31, 2025
segement
| |
| Segment Reporting [Abstract] | |
| Number of business segments | 2 |
Segment Reporting - Summary of Gross and Net Written and Earned Premiums, Underwriting Results, Ratios and Reserves for Each of Company's Business Segments (Details) - USD ($) $ in Millions |
12 Months Ended | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||||
| Gross written premiums | $ 4,673.2 | $ 4,609.3 | $ 3,967.6 | |||||||||||
| Net written premiums | 2,836.0 | 2,942.6 | 2,581.9 | |||||||||||
| Gross earned premiums | 4,602.2 | 4,387.8 | 4,006.8 | |||||||||||
| Net earned premiums | [1] | 2,831.9 | 2,889.7 | 2,614.5 | ||||||||||
| Losses and loss adjustment expenses | [1] | (1,546.7) | (1,717.8) | (1,553.0) | ||||||||||
| Acquisition costs | (422.4) | (420.2) | (380.2) | |||||||||||
| General and administrative expenses | (492.0) | (405.9) | (354.5) | |||||||||||
| Underwriting income (loss) | 370.8 | 345.8 | 326.8 | |||||||||||
| Corporate and other expenses | (102.6) | (97.3) | (114.0) | |||||||||||
| Non-operating expenses (1) | (76.8) | (29.9) | (35.1) | |||||||||||
| Net Investment Income | 326.3 | [2] | 318.0 | 275.7 | ||||||||||
| Gain (loss) on investments | 61.4 | 52.6 | 75.9 | |||||||||||
| Realized and unrealized investment losses (3) | [3] | (72.3) | (102.1) | (61.4) | ||||||||||
| Change in fair value of derivatives | 47.5 | (21.1) | 26.1 | |||||||||||
| Interest expense | (31.7) | (62.1) | (55.2) | |||||||||||
| Net realized and unrealized foreign exchange losses | (78.5) | 60.2 | (36.2) | |||||||||||
| Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest | 444.1 | 464.1 | 402.6 | |||||||||||
| Income tax (expense)/benefit | (103.9) | 22.0 | 132.1 | |||||||||||
| Net income/(loss) | 340.2 | 486.1 | 534.7 | |||||||||||
| Liability for Claims and Claims Adjustment Expense | 8,725.0 | [4] | 8,122.6 | [4] | 7,810.6 | $ 7,710.9 | ||||||||
| Net reserve for losses and loss adjustment expenses at the start of the year | $ 4,443.1 | $ 3,950.6 | $ 3,232.8 | $ 2,813.2 | ||||||||||
| Ratios | ||||||||||||||
| Loss ratio | 54.60% | 59.40% | 59.40% | |||||||||||
| Acquisition cost ratio | 14.90% | 14.50% | 14.50% | |||||||||||
| General and administrative expense ratio | 17.40% | 14.00% | 13.60% | |||||||||||
| Expense ratio | 32.30% | 28.50% | 28.10% | |||||||||||
| Combined ratio | 86.90% | 87.90% | 87.50% | |||||||||||
| Reinsurance | ||||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||||
| Net written premiums | $ 1,604.9 | $ 1,666.9 | $ 1,483.9 | |||||||||||
| Net earned premiums | 1,623.8 | 1,584.0 | 1,460.0 | |||||||||||
| Liability for Claims and Claims Adjustment Expense | 2,509.0 | 2,259.1 | 1,859.7 | |||||||||||
| Net reserve for losses and loss adjustment expenses at the start of the year | $ 2,509.0 | $ 2,259.1 | $ 1,859.7 | |||||||||||
| Ratios | ||||||||||||||
| Loss ratio | 53.20% | 61.60% | 64.50% | |||||||||||
| Acquisition cost ratio | 15.00% | 12.20% | 11.80% | |||||||||||
| General and administrative expense ratio | 18.70% | 16.70% | 16.00% | |||||||||||
| Expense ratio | 33.70% | 28.90% | 27.80% | |||||||||||
| Combined ratio | 86.90% | 90.50% | 92.30% | |||||||||||
| Insurance | ||||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||||
| Net written premiums | $ 1,231.1 | $ 1,275.7 | $ 1,098.0 | |||||||||||
| Net earned premiums | 1,208.1 | 1,305.7 | 1,154.5 | |||||||||||
| Liability for Claims and Claims Adjustment Expense | 1,934.1 | 1,691.5 | 1,373.1 | |||||||||||
| Net reserve for losses and loss adjustment expenses at the start of the year | $ 1,934.1 | $ 1,691.5 | $ 1,373.1 | |||||||||||
| Ratios | ||||||||||||||
| Loss ratio | 56.50% | 56.80% | 52.90% | |||||||||||
| Acquisition cost ratio | 14.80% | 17.40% | 18.10% | |||||||||||
| General and administrative expense ratio | 15.60% | 10.90% | 10.40% | |||||||||||
| Expense ratio | 30.40% | 28.30% | 28.50% | |||||||||||
| Combined ratio | 86.90% | 85.10% | 81.40% | |||||||||||
| Operating Segments | Reinsurance | ||||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||||
| Gross written premiums | $ 2,768.1 | $ 2,723.5 | $ 2,446.6 | |||||||||||
| Net written premiums | 1,604.9 | 1,666.9 | 1,483.9 | |||||||||||
| Gross earned premiums | 2,752.2 | 2,565.7 | 2,444.8 | |||||||||||
| Net earned premiums | 1,623.8 | 1,584.0 | 1,460.0 | |||||||||||
| Losses and loss adjustment expenses | (864.4) | (976.5) | (941.9) | |||||||||||
| Acquisition costs | (243.4) | (193.2) | (171.6) | |||||||||||
| General and administrative expenses | (303.3) | (264.2) | (233.9) | |||||||||||
| Underwriting income (loss) | 212.7 | 150.1 | 112.6 | |||||||||||
| Operating Segments | Insurance | ||||||||||||||
| Segment Reporting Information [Line Items] | ||||||||||||||
| Gross written premiums | 1,905.1 | 1,885.8 | 1,521.0 | |||||||||||
| Net written premiums | 1,231.1 | 1,275.7 | 1,098.0 | |||||||||||
| Gross earned premiums | 1,850.0 | 1,822.1 | 1,562.0 | |||||||||||
| Net earned premiums | 1,208.1 | 1,305.7 | 1,154.5 | |||||||||||
| Losses and loss adjustment expenses | (682.3) | (741.3) | (611.1) | |||||||||||
| Acquisition costs | (179.0) | (227.0) | (208.6) | |||||||||||
| General and administrative expenses | (188.7) | (141.7) | (120.6) | |||||||||||
| Underwriting income (loss) | $ 158.1 | $ 195.7 | $ 214.2 | |||||||||||
| ||||||||||||||
Segment Reporting - Summary of the Schedule of the Company's gross written premiums based on the location of the insured risk (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Segment Reporting Information [Line Items] | |||
| Gross written premiums | $ 4,673.2 | $ 4,609.3 | $ 3,967.6 |
| Australia/Asia | |||
| Segment Reporting Information [Line Items] | |||
| Gross written premiums | 164.5 | 177.8 | 177.8 |
| Europe | |||
| Segment Reporting Information [Line Items] | |||
| Gross written premiums | 218.3 | 208.1 | 179.4 |
| United Kingdom & Ireland | |||
| Segment Reporting Information [Line Items] | |||
| Gross written premiums | 601.0 | 614.8 | 532.5 |
| United States & Canada | |||
| Segment Reporting Information [Line Items] | |||
| Gross written premiums | 3,150.1 | 2,947.0 | 2,472.0 |
| Worldwide excluding United States | |||
| Segment Reporting Information [Line Items] | |||
| Gross written premiums | 39.0 | 33.4 | 28.8 |
| Worldwide including United States | |||
| Segment Reporting Information [Line Items] | |||
| Gross written premiums | 328.2 | 435.0 | 417.2 |
| Other (4) | |||
| Segment Reporting Information [Line Items] | |||
| Gross written premiums | $ 172.1 | $ 193.2 | $ 159.9 |
Investments - Summary of Investment Income (Details) - USD ($) $ in Millions |
12 Months Ended | |||||
|---|---|---|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
||||
| Schedule of Investment Income, Reported Amounts, by Category [Line Items] | ||||||
| Investment income | $ 336.3 | $ 329.5 | $ 287.3 | |||
| Gain (loss) on investments | 61.4 | 52.6 | 75.9 | |||
| Investment expenses | (10.0) | (11.5) | (11.6) | |||
| Net investment income | 326.3 | [1] | 318.0 | 275.7 | ||
| Fixed income securities — Available for sale | ||||||
| Schedule of Investment Income, Reported Amounts, by Category [Line Items] | ||||||
| Investment income | 214.2 | 161.5 | 115.7 | |||
| Fixed income securities — Trading | ||||||
| Schedule of Investment Income, Reported Amounts, by Category [Line Items] | ||||||
| Investment income | 65.9 | 88.2 | 98.9 | |||
| Short-term investments — Available for sale | ||||||
| Schedule of Investment Income, Reported Amounts, by Category [Line Items] | ||||||
| Investment income | 3.7 | 4.5 | 5.3 | |||
| Short-term investments — Trading | ||||||
| Schedule of Investment Income, Reported Amounts, by Category [Line Items] | ||||||
| Investment income | 0.3 | 0.1 | 0.3 | |||
| Fixed term deposits (included in cash and cash equivalents) | ||||||
| Schedule of Investment Income, Reported Amounts, by Category [Line Items] | ||||||
| Investment income | 39.1 | 45.3 | 39.9 | |||
| Catastrophe bonds — Trading | ||||||
| Schedule of Investment Income, Reported Amounts, by Category [Line Items] | ||||||
| Investment income | 0.0 | 0.0 | 0.2 | |||
| Privately-held investments — Available for sale | ||||||
| Schedule of Investment Income, Reported Amounts, by Category [Line Items] | ||||||
| Investment income | 1.9 | 1.2 | 0.1 | |||
| Privately-held investments — Trading | ||||||
| Schedule of Investment Income, Reported Amounts, by Category [Line Items] | ||||||
| Investment income | 16.7 | 34.9 | 44.7 | |||
| Equity Securities | ||||||
| Schedule of Investment Income, Reported Amounts, by Category [Line Items] | ||||||
| Investment income | 0.3 | 0.0 | 0.0 | |||
| Other investments, at fair value | ||||||
| Schedule of Investment Income, Reported Amounts, by Category [Line Items] | ||||||
| Gain (loss) on investments | $ 5.8 | $ 6.2 | $ (17.8) | |||
| ||||||
Investments - Net Realized and Unrealized Investment Gains and Losses and Change in Unrealized Gains and Losses on Investments (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Schedule of Investment Income, Reported Amounts, by Category [Line Items] | |||
| Fixed income securities - gross realized gains | $ 23.2 | $ 2.4 | $ 1.6 |
| Realized losses on sale of securities | (67.0) | (60.6) | (41.5) |
| Net change in expected credit gains (losses) | 0.7 | 1.9 | 4.8 |
| Fixed income securities, trading - gross realized gains | 1.8 | 1.2 | 1.0 |
| Fixed income securities, trading, gross realizes (losses) | (1.4) | (10.0) | (3.5) |
| Privately-held investments net unrealized gains/(losses) | 24.8 | 26.8 | 65.9 |
| Catastrophe bonds | 0.0 | 0.0 | 0.1 |
| Total net realized and unrealized investment (losses)/gains recorded in the consolidated statement of operations | (10.9) | (49.5) | 14.5 |
| Change in available for sale net unrealized gains/(losses): | |||
| Available for sale investments | 171.0 | 34.1 | 126.2 |
| Income tax (expense) | (34.1) | (4.7) | (20.6) |
| Total change in net unrealized gains/(losses), net of taxes recorded in other comprehensive income | 136.9 | 29.4 | 105.6 |
| Privately-held investments | |||
| Schedule of Investment Income, Reported Amounts, by Category [Line Items] | |||
| Fixed income securities, trading - gross realized gains | 2.1 | 0.8 | 0.8 |
| Fixed income securities, trading, gross realizes (losses) | (2.1) | (28.8) | 0.0 |
| Privately-held investments net unrealized gains/(losses) | 1.9 | 18.6 | (15.2) |
| Short-term investments — Available for sale | |||
| Schedule of Investment Income, Reported Amounts, by Category [Line Items] | |||
| Fixed income securities - gross realized gains | 2.6 | 0.8 | 0.6 |
| Realized losses on sale of securities | (1.8) | (2.0) | (0.9) |
| Fixed income securities, trading - gross realized gains | 0.0 | 0.0 | 0.1 |
| Fixed income securities, trading, gross realizes (losses) | 0.0 | (0.3) | (0.3) |
| Equity Method Investments | |||
| Schedule of Investment Income, Reported Amounts, by Category [Line Items] | |||
| Unrealized (loss)/gain | 2.3 | (0.1) | 1.0 |
| Realized Investment Gains (Losses) | 0.0 | (0.2) | 0.0 |
| Net unrealized gain (loss) | $ 2.0 | $ 0.0 | $ 0.0 |
Investments - Cost, Gross Unrealized Gains and Losses, and Estimated Fair Value of Available for Sale Investments in Fixed Income Maturities and Short-Term Investments (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Schedule of Trading Securities and Other Trading Items [Line Items] | ||
| Cost or Amortized Cost | $ 5,106.0 | $ 5,147.0 |
| Gross Unrealized Gains | 61.8 | 14.2 |
| Gross Unrealized Losses | (58.2) | (181.9) |
| Allowance for Credit Losses | (0.3) | (1.0) |
| Fair Market Value | 5,109.3 | 4,978.3 |
| Fixed income investments | ||
| Schedule of Trading Securities and Other Trading Items [Line Items] | ||
| Cost or Amortized Cost | 5,011.0 | 4,861.1 |
| Gross Unrealized Gains | 60.9 | 14.0 |
| Gross Unrealized Losses | (58.2) | (181.9) |
| Allowance for Credit Losses | (0.3) | (1.0) |
| Fair Market Value | 5,013.4 | 4,692.2 |
| U.S. government | ||
| Schedule of Trading Securities and Other Trading Items [Line Items] | ||
| Cost or Amortized Cost | 1,206.4 | 1,504.8 |
| Gross Unrealized Gains | 20.1 | 1.5 |
| Gross Unrealized Losses | (4.5) | (25.7) |
| Allowance for Credit Losses | 0.0 | 0.0 |
| Fair Market Value | 1,222.0 | 1,480.6 |
| U.S. agency | ||
| Schedule of Trading Securities and Other Trading Items [Line Items] | ||
| Cost or Amortized Cost | 2.0 | 7.5 |
| Gross Unrealized Gains | 0.0 | 0.0 |
| Gross Unrealized Losses | 0.0 | (0.3) |
| Allowance for Credit Losses | 0.0 | 0.0 |
| Fair Market Value | 2.0 | 7.2 |
| Municipal | ||
| Schedule of Trading Securities and Other Trading Items [Line Items] | ||
| Cost or Amortized Cost | 90.9 | 84.2 |
| Gross Unrealized Gains | 1.6 | 0.0 |
| Gross Unrealized Losses | (0.2) | (1.9) |
| Allowance for Credit Losses | 0.0 | 0.0 |
| Fair Market Value | 92.3 | 82.3 |
| Corporate | ||
| Schedule of Trading Securities and Other Trading Items [Line Items] | ||
| Cost or Amortized Cost | 1,995.2 | 2,045.3 |
| Gross Unrealized Gains | 26.8 | 8.5 |
| Gross Unrealized Losses | (24.1) | (66.4) |
| Allowance for Credit Losses | (0.3) | (1.0) |
| Fair Market Value | 1,997.6 | 1,986.4 |
| Non-U.S. government-backed corporate | ||
| Schedule of Trading Securities and Other Trading Items [Line Items] | ||
| Cost or Amortized Cost | 66.0 | 132.9 |
| Gross Unrealized Gains | 0.8 | 0.8 |
| Gross Unrealized Losses | (0.5) | (2.4) |
| Allowance for Credit Losses | 0.0 | 0.0 |
| Fair Market Value | 66.3 | 131.3 |
| Non-U.S. government | ||
| Schedule of Trading Securities and Other Trading Items [Line Items] | ||
| Cost or Amortized Cost | 400.6 | 248.2 |
| Gross Unrealized Gains | 2.1 | 1.0 |
| Gross Unrealized Losses | (1.1) | (2.4) |
| Allowance for Credit Losses | 0.0 | 0.0 |
| Fair Market Value | 401.6 | 246.8 |
| Asset-backed | ||
| Schedule of Trading Securities and Other Trading Items [Line Items] | ||
| Cost or Amortized Cost | 499.5 | 232.4 |
| Gross Unrealized Gains | 2.0 | 2.2 |
| Gross Unrealized Losses | (0.5) | (0.1) |
| Allowance for Credit Losses | 0.0 | 0.0 |
| Fair Market Value | 501.0 | 234.5 |
| Agency commercial mortgage-backed securities | ||
| Schedule of Trading Securities and Other Trading Items [Line Items] | ||
| Cost or Amortized Cost | 9.8 | 5.0 |
| Gross Unrealized Gains | 0.0 | 0.0 |
| Gross Unrealized Losses | (0.3) | (0.6) |
| Allowance for Credit Losses | 0.0 | 0.0 |
| Fair Market Value | 9.5 | 4.4 |
| Agency residential mortgage-backed securities | ||
| Schedule of Trading Securities and Other Trading Items [Line Items] | ||
| Cost or Amortized Cost | 740.6 | 600.8 |
| Gross Unrealized Gains | 7.5 | 0.0 |
| Gross Unrealized Losses | (27.0) | (82.1) |
| Allowance for Credit Losses | 0.0 | 0.0 |
| Fair Market Value | 721.1 | 518.7 |
| Short-term investments — Available for sale | ||
| Schedule of Trading Securities and Other Trading Items [Line Items] | ||
| Cost or Amortized Cost | 45.4 | 261.9 |
| Gross Unrealized Gains | 0.0 | 0.0 |
| Gross Unrealized Losses | 0.0 | 0.0 |
| Allowance for Credit Losses | 0.0 | 0.0 |
| Fair Market Value | 45.4 | 261.9 |
| Asset backed securities, privately-held afs | ||
| Schedule of Trading Securities and Other Trading Items [Line Items] | ||
| Cost or Amortized Cost | 15.8 | 24.0 |
| Gross Unrealized Gains | 0.5 | 0.2 |
| Gross Unrealized Losses | 0.0 | 0.0 |
| Allowance for Credit Losses | 0.0 | 0.0 |
| Fair Market Value | 16.3 | $ 24.2 |
| Privately-held investments, global corporate securities | ||
| Schedule of Trading Securities and Other Trading Items [Line Items] | ||
| Cost or Amortized Cost | 33.8 | |
| Gross Unrealized Gains | 0.4 | |
| Gross Unrealized Losses | 0.0 | |
| Allowance for Credit Losses | 0.0 | |
| Fair Market Value | 34.2 | |
| Total, privately-held investments, AFS | ||
| Schedule of Trading Securities and Other Trading Items [Line Items] | ||
| Cost or Amortized Cost | 49.6 | |
| Gross Unrealized Gains | 0.9 | |
| Gross Unrealized Losses | 0.0 | |
| Allowance for Credit Losses | 0.0 | |
| Fair Market Value | $ 50.5 |
Investments - Cost, Gross Unrealized Gains and Losses, and Estimated Fair Value of Trading Investments in Fixed Income Maturities (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Schedule of Trading Securities and Other Trading Items [Line Items] | ||
| Cost or Amortized Cost | $ 1,158.9 | $ 1,497.7 |
| Gross Unrealized Gains | 13.5 | 7.7 |
| Gross Unrealized Losses | (10.4) | (16.7) |
| Fair Market Value | 1,162.0 | 1,488.7 |
| Fixed income investments | ||
| Schedule of Trading Securities and Other Trading Items [Line Items] | ||
| Cost or Amortized Cost | 1,037.8 | 1,207.7 |
| Gross Unrealized Gains | 9.4 | 6.2 |
| Gross Unrealized Losses | (7.0) | (14.0) |
| Fair Market Value | 1,040.2 | 1,199.9 |
| U.S. government | ||
| Schedule of Trading Securities and Other Trading Items [Line Items] | ||
| Cost or Amortized Cost | 259.2 | 262.9 |
| Gross Unrealized Gains | 5.1 | 0.6 |
| Gross Unrealized Losses | (0.4) | (2.2) |
| Fair Market Value | 263.9 | 261.3 |
| Municipal | ||
| Schedule of Trading Securities and Other Trading Items [Line Items] | ||
| Cost or Amortized Cost | 4.7 | 1.6 |
| Gross Unrealized Gains | 0.0 | 0.0 |
| Gross Unrealized Losses | 0.0 | 0.0 |
| Fair Market Value | 4.7 | 1.6 |
| Corporate | ||
| Schedule of Trading Securities and Other Trading Items [Line Items] | ||
| Cost or Amortized Cost | 141.4 | 155.5 |
| Gross Unrealized Gains | 1.8 | 0.5 |
| Gross Unrealized Losses | (2.0) | (4.9) |
| Fair Market Value | 141.2 | 151.1 |
| High yield loans | ||
| Schedule of Trading Securities and Other Trading Items [Line Items] | ||
| Cost or Amortized Cost | 99.6 | 101.7 |
| Gross Unrealized Gains | 0.6 | 0.9 |
| Gross Unrealized Losses | (0.2) | (0.2) |
| Fair Market Value | 100.0 | 102.4 |
| Non-U.S. government-backed corporate | ||
| Schedule of Trading Securities and Other Trading Items [Line Items] | ||
| Cost or Amortized Cost | 2.8 | |
| Gross Unrealized Gains | 0.0 | |
| Gross Unrealized Losses | 0.0 | |
| Fair Market Value | 2.8 | |
| Non-U.S. government | ||
| Schedule of Trading Securities and Other Trading Items [Line Items] | ||
| Cost or Amortized Cost | 37.6 | 24.4 |
| Gross Unrealized Gains | 0.2 | 0.1 |
| Gross Unrealized Losses | (0.2) | (0.1) |
| Fair Market Value | 37.6 | 24.4 |
| Asset-backed | ||
| Schedule of Trading Securities and Other Trading Items [Line Items] | ||
| Cost or Amortized Cost | 461.8 | 624.6 |
| Gross Unrealized Gains | 1.4 | 4.1 |
| Gross Unrealized Losses | (2.5) | (3.5) |
| Fair Market Value | 460.7 | 625.2 |
| Agency mortgage-backed | ||
| Schedule of Trading Securities and Other Trading Items [Line Items] | ||
| Cost or Amortized Cost | 33.5 | 34.2 |
| Gross Unrealized Gains | 0.3 | 0.0 |
| Gross Unrealized Losses | (1.7) | (3.1) |
| Fair Market Value | 32.1 | 31.1 |
| Short-term investments — Available for sale | ||
| Schedule of Trading Securities and Other Trading Items [Line Items] | ||
| Cost or Amortized Cost | 1.0 | |
| Gross Unrealized Gains | 0.0 | |
| Gross Unrealized Losses | 0.0 | |
| Fair Market Value | 1.0 | |
| Catastrophe bonds, trading | ||
| Schedule of Trading Securities and Other Trading Items [Line Items] | ||
| Cost or Amortized Cost | 1.0 | |
| Gross Unrealized Gains | 0.0 | |
| Gross Unrealized Losses | 0.0 | |
| Fair Market Value | 1.0 | |
| Privately-held investments | ||
| Schedule of Trading Securities and Other Trading Items [Line Items] | ||
| Cost or Amortized Cost | 121.1 | 288.0 |
| Gross Unrealized Gains | 4.1 | 1.5 |
| Gross Unrealized Losses | (3.4) | (2.7) |
| Fair Market Value | 121.8 | 286.8 |
| Commercial mortgage loans | ||
| Schedule of Trading Securities and Other Trading Items [Line Items] | ||
| Cost or Amortized Cost | 25.3 | 80.9 |
| Gross Unrealized Gains | 0.1 | 0.5 |
| Gross Unrealized Losses | 0.0 | (1.7) |
| Fair Market Value | 25.4 | 79.7 |
| Middle market loans and other private debt | ||
| Schedule of Trading Securities and Other Trading Items [Line Items] | ||
| Cost or Amortized Cost | 32.0 | 61.6 |
| Gross Unrealized Gains | 0.1 | 0.1 |
| Gross Unrealized Losses | (3.2) | (0.7) |
| Fair Market Value | 28.9 | 61.0 |
| Asset-backed securities | ||
| Schedule of Trading Securities and Other Trading Items [Line Items] | ||
| Cost or Amortized Cost | 63.8 | 126.7 |
| Gross Unrealized Gains | 3.9 | 0.9 |
| Gross Unrealized Losses | (0.2) | 0.0 |
| Fair Market Value | 67.5 | 127.6 |
| Global corporate securities | ||
| Schedule of Trading Securities and Other Trading Items [Line Items] | ||
| Cost or Amortized Cost | 18.8 | |
| Gross Unrealized Gains | 0.0 | |
| Gross Unrealized Losses | (0.3) | |
| Fair Market Value | $ 34.2 | $ 18.5 |
Investments - Equity Method Investments (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Equity Method Investment, Aggregate Cost [Roll Forward] | |||
| Equity method investments, opening balance | $ 7.3 | $ 7.6 | |
| Unrealized (loss)/gain for the twelve months to December 31, 2024 | 0.0 | 0.0 | $ 0.4 |
| Equity method investments, closing balance | 9.6 | 7.3 | $ 7.6 |
| Equity Method Investments | |||
| Equity Method Investment, Aggregate Cost [Roll Forward] | |||
| Unrealized (loss)/gain | $ 2.3 | (0.1) | |
| Realized Investment Gains (Losses) | $ (0.2) | ||
Investments - Summary of Fixed Maturities (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Debt Securities, Available-for-sale [Line Items] | ||
| Cost or Amortized Cost | $ 5,106.0 | $ 5,147.0 |
| Fair Market Value | 5,109.3 | 4,978.3 |
| Fixed income securities | ||
| Debt Securities, Available-for-sale [Line Items] | ||
| Due one year or less, Cost or Amortized Cost | 257.6 | 834.1 |
| Due one year or less, Fair Market Value | 257.5 | 831.2 |
| Due after one year through five years, Cost or Amortized Cost | 2,095.2 | 2,386.5 |
| Due after one year through five years, Fair Market Value | 2,103.8 | 2,353.2 |
| Due after five years through ten years, Cost or Amortized Cost | 1,390.4 | 1,060.7 |
| Due after five years through ten years, Fair Market Value | 1,402.9 | 1,008.7 |
| Due after ten years, Cost or Amortized Cost | 97.1 | 3.5 |
| Due after ten years, Fair Market Value | 97.2 | 3.4 |
| Debt Securities, Available-for-Sale, Maturity, Allocated and Single Maturity Date, Amortized Cost | 3,840.3 | 4,284.8 |
| Debt Securities, Available-for-Sale, Maturity, Allocated and Single Maturity Date, Fair Value | 3,861.4 | 4,196.5 |
| Non-agency commercial mortgage-backed securities | ||
| Debt Securities, Available-for-sale [Line Items] | ||
| Debt Securities, Available-for-Sale, Maturity, without Single Maturity Date, Amortized Cost | 9.8 | 5.0 |
| Debt Securities, Available-for-Sale, Maturity, without Single Maturity Date, Fair Value | 9.5 | 4.4 |
| Cost or Amortized Cost | 9.8 | 5.0 |
| Fair Market Value | 9.5 | 4.4 |
| Agency mortgage-backed | ||
| Debt Securities, Available-for-sale [Line Items] | ||
| Debt Securities, Available-for-Sale, Maturity, without Single Maturity Date, Amortized Cost | 740.6 | 600.8 |
| Debt Securities, Available-for-Sale, Maturity, without Single Maturity Date, Fair Value | 721.1 | 518.7 |
| Asset backed securities | ||
| Debt Securities, Available-for-sale [Line Items] | ||
| Debt Securities, Available-for-Sale, Maturity, without Single Maturity Date, Amortized Cost | 515.3 | 256.4 |
| Debt Securities, Available-for-Sale, Maturity, without Single Maturity Date, Fair Value | 517.3 | $ 258.7 |
| Privately-held investments, global corporate securities | ||
| Debt Securities, Available-for-sale [Line Items] | ||
| Cost or Amortized Cost | 33.8 | |
| Fair Market Value | $ 34.2 |
Investments - Aggregate Fair Value and Gross Unrealized Loss by Type of Security (Details) $ in Millions |
Dec. 31, 2025
USD ($)
security
|
Dec. 31, 2024
USD ($)
Security
security
|
|---|---|---|
| Debt Securities, Available-for-sale [Line Items] | ||
| 0-12 months, Fair Market Value | $ 746.6 | $ 1,625.0 |
| Gross unrealized losses, less than twelve months | (3.7) | (22.3) |
| Over 12 months, Fair Market Value | 748.2 | 1,604.9 |
| Over 12 months, Gross Unrealized Losses | (54.5) | (159.6) |
| Total, Fair Market Value | 1,494.8 | 3,229.9 |
| Total, Gross Unrealized Losses | $ (58.2) | $ (181.9) |
| Number of Securities | 606 | 1,170 |
| Securities Below Investment Grade or NR | $ (0.3) | |
| Fixed income securities — Available for sale | ||
| Debt Securities, Available-for-sale [Line Items] | ||
| 0-12 months, Fair Market Value | $ 161.2 | |
| Gross unrealized losses, less than twelve months | (2.2) | |
| Over 12 months, Fair Market Value | 351.3 | |
| Over 12 months, Gross Unrealized Losses | (79.9) | |
| Total, Fair Market Value | 512.5 | |
| Total, Gross Unrealized Losses | $ (82.1) | |
| Number of Securities | Security | 225 | |
| U.S. government | ||
| Debt Securities, Available-for-sale [Line Items] | ||
| 0-12 months, Fair Market Value | 152.2 | $ 718.1 |
| Gross unrealized losses, less than twelve months | (1.2) | (11.6) |
| Over 12 months, Fair Market Value | 123.1 | 397.8 |
| Over 12 months, Gross Unrealized Losses | (3.3) | (14.1) |
| Total, Fair Market Value | 275.3 | 1,115.9 |
| Total, Gross Unrealized Losses | $ (4.5) | $ (25.7) |
| Number of Securities | security | 43 | 137 |
| Municipal | ||
| Debt Securities, Available-for-sale [Line Items] | ||
| 0-12 months, Fair Market Value | $ 5.5 | $ 0.0 |
| Gross unrealized losses, less than twelve months | 0.0 | 0.0 |
| Over 12 months, Fair Market Value | 14.1 | 7.2 |
| Over 12 months, Gross Unrealized Losses | (0.2) | (0.3) |
| Total, Fair Market Value | 19.6 | 7.2 |
| Total, Gross Unrealized Losses | $ (0.2) | $ (0.3) |
| Number of Securities | security | 14 | 1 |
| Corporate | ||
| Debt Securities, Available-for-sale [Line Items] | ||
| 0-12 months, Fair Market Value | $ 253.1 | $ 33.6 |
| Gross unrealized losses, less than twelve months | (1.2) | (0.7) |
| Over 12 months, Fair Market Value | 387.7 | 45.4 |
| Over 12 months, Gross Unrealized Losses | (22.9) | (1.2) |
| Total, Fair Market Value | 640.8 | 79.0 |
| Total, Gross Unrealized Losses | $ (24.1) | $ (1.9) |
| Number of Securities | security | 302 | 47 |
| Non-U.S. government-backed corporate | ||
| Debt Securities, Available-for-sale [Line Items] | ||
| 0-12 months, Fair Market Value | $ 7.7 | $ 570.3 |
| Gross unrealized losses, less than twelve months | (0.1) | (6.8) |
| Over 12 months, Fair Market Value | 23.7 | 663.9 |
| Over 12 months, Gross Unrealized Losses | (0.4) | (59.6) |
| Total, Fair Market Value | 31.4 | 1,234.2 |
| Total, Gross Unrealized Losses | $ (0.5) | $ (66.4) |
| Number of Securities | security | 5 | 692 |
| Non-U.S. government | ||
| Debt Securities, Available-for-sale [Line Items] | ||
| 0-12 months, Fair Market Value | $ 89.2 | $ 5.8 |
| Gross unrealized losses, less than twelve months | (0.6) | 0.0 |
| Over 12 months, Fair Market Value | 17.4 | 91.1 |
| Over 12 months, Gross Unrealized Losses | (0.5) | (2.4) |
| Total, Fair Market Value | 106.6 | 96.9 |
| Total, Gross Unrealized Losses | $ (1.1) | $ (2.4) |
| Number of Securities | security | 40 | 12 |
| Non-agency commercial mortgage-backed securities | ||
| Debt Securities, Available-for-sale [Line Items] | ||
| 0-12 months, Fair Market Value | $ 0.0 | $ 17.2 |
| Gross unrealized losses, less than twelve months | 0.0 | (0.1) |
| Over 12 months, Fair Market Value | 4.7 | 0.0 |
| Over 12 months, Gross Unrealized Losses | (0.3) | 0.0 |
| Total, Fair Market Value | 4.7 | 17.2 |
| Total, Gross Unrealized Losses | $ (0.3) | $ (0.1) |
| Number of Securities | security | 1 | 14 |
| Agency residential mortgage-backed securities | ||
| Debt Securities, Available-for-sale [Line Items] | ||
| 0-12 months, Fair Market Value | $ 71.4 | |
| Gross unrealized losses, less than twelve months | (0.1) | |
| Over 12 months, Fair Market Value | 177.5 | |
| Over 12 months, Gross Unrealized Losses | (26.9) | |
| Total, Fair Market Value | 248.9 | |
| Total, Gross Unrealized Losses | $ (27.0) | |
| Number of Securities | security | 141 | |
| Agency mortgage-backed | ||
| Debt Securities, Available-for-sale [Line Items] | ||
| 0-12 months, Fair Market Value | $ 0.0 | |
| Gross unrealized losses, less than twelve months | 0.0 | |
| Over 12 months, Fair Market Value | 4.5 | |
| Over 12 months, Gross Unrealized Losses | (0.6) | |
| Total, Fair Market Value | 4.5 | |
| Total, Gross Unrealized Losses | $ (0.6) | |
| Number of Securities | security | 1 | |
| Asset-backed | ||
| Debt Securities, Available-for-sale [Line Items] | ||
| 0-12 months, Fair Market Value | $ 167.5 | $ 118.8 |
| Gross unrealized losses, less than twelve months | (0.5) | (0.9) |
| Over 12 months, Fair Market Value | 0.0 | 43.7 |
| Over 12 months, Gross Unrealized Losses | 0.0 | (1.5) |
| Total, Fair Market Value | 167.5 | 162.5 |
| Total, Gross Unrealized Losses | $ (0.5) | $ (2.4) |
| Number of Securities | security | 60 | 41 |
Investments - Additional Information (Narrative) (Details) £ in Millions |
12 Months Ended | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2025
USD ($)
security
|
Dec. 31, 2024
USD ($)
security
|
Dec. 31, 2023
USD ($)
|
Dec. 31, 2025
GBP (£)
security
|
Dec. 31, 2024
GBP (£)
security
|
Aug. 01, 2024
USD ($)
|
Sep. 30, 2023
USD ($)
|
Aug. 31, 2023
GBP (£)
|
Apr. 01, 2023
USD ($)
|
May 05, 2022
USD ($)
|
Apr. 01, 2022
USD ($)
|
Sep. 30, 2021
USD ($)
|
Dec. 31, 2020
USD ($)
|
Dec. 20, 2017
USD ($)
|
|||
| Gain (Loss) on Securities [Line Items] | ||||||||||||||||
| Catastrophe bonds, trading at fair value (amortized cost — 2025: $0.0 and 2024: $1.0) | $ 0 | $ 1,000,000.0 | ||||||||||||||
| Fair Market Value | 1,162,000,000 | 1,488,700,000 | ||||||||||||||
| Unrealized (loss)/gain for the twelve months to December 31, 2024 | 0 | 0 | $ 400,000 | |||||||||||||
| Other Investments | [1] | 279,600,000 | $ 267,200,000 | |||||||||||||
| Investment funded | $ 0 | |||||||||||||||
| Debt Securities, Available-for-Sale, Unrealized Loss Position, Number of Positions | (606) | (1,170) | (606) | (1,170) | ||||||||||||
| Total, Gross Unrealized Losses | $ (58,200,000) | $ (181,900,000) | ||||||||||||||
| Securities Below Investment Grade or NR | (300,000) | |||||||||||||||
| Investment, Identifier [Axis]: Unfunded Commitment, Real Estate (2021)Fund | ||||||||||||||||
| Gain (Loss) on Securities [Line Items] | ||||||||||||||||
| Unfunded commitment | 900,000 | 900,000 | ||||||||||||||
| Investment, Identifier [Axis]: Unfunded Commitment, Apollo Real Estate Fund | ||||||||||||||||
| Gain (Loss) on Securities [Line Items] | ||||||||||||||||
| Unfunded commitment | 3,700,000 | 3,700,000 | ||||||||||||||
| Investment, Identifier [Axis]: Unfunded Commitment, Energy Fund | ||||||||||||||||
| Gain (Loss) on Securities [Line Items] | ||||||||||||||||
| Unfunded commitment | 27,200,000 | 55,000,000.0 | ||||||||||||||
| Investment, Identifier [Axis]: Unfunded Commitment, Infrastructure fund | ||||||||||||||||
| Gain (Loss) on Securities [Line Items] | ||||||||||||||||
| Unfunded commitment | 1,700,000 | 2,300,000 | ||||||||||||||
| Investment, Identifier [Axis]: Unfunded Commitment, Lloyd's Enhanced Liquidity Fund | ||||||||||||||||
| Gain (Loss) on Securities [Line Items] | ||||||||||||||||
| Unfunded commitment | 0 | 0 | ||||||||||||||
| Investment, Identifier [Axis]: Unfunded Commitment, Managed Debt Fund | ||||||||||||||||
| Gain (Loss) on Securities [Line Items] | ||||||||||||||||
| Unfunded commitment | £ | £ 5.7 | £ 6.8 | ||||||||||||||
| Investment, Identifier [Axis]: Unfunded Commitment, Managed lending fund | ||||||||||||||||
| Gain (Loss) on Securities [Line Items] | ||||||||||||||||
| Unfunded commitment | 200,000 | |||||||||||||||
| Fair Value, Recurring [Member] | ||||||||||||||||
| Gain (Loss) on Securities [Line Items] | ||||||||||||||||
| Investments, fair value | 88,300,000 | 111,700,000 | ||||||||||||||
| Fair Value, Recurring [Member] | Managed Lending Fund (Dec 2020) | ||||||||||||||||
| Gain (Loss) on Securities [Line Items] | ||||||||||||||||
| Investments, fair value | 20,700,000 | 19,300,000 | ||||||||||||||
| Fair Value, Recurring [Member] | Pledge Accounts, Custodian Bank (April 2021) | ||||||||||||||||
| Gain (Loss) on Securities [Line Items] | ||||||||||||||||
| Investments, fair value | 2,200,000 | 2,000,000.0 | ||||||||||||||
| Fair Value, Recurring [Member] | Real estate fund (Sept 2021) | ||||||||||||||||
| Gain (Loss) on Securities [Line Items] | ||||||||||||||||
| Investments, fair value | 31,100,000 | 36,200,000 | $ 10,000,000.0 | |||||||||||||
| Fair Value, Recurring [Member] | Real estate fund | ||||||||||||||||
| Gain (Loss) on Securities [Line Items] | ||||||||||||||||
| Investments, fair value | 279,600,000 | 267,200,000 | ||||||||||||||
| Fair Value, Recurring [Member] | Apollo real estate fund | ||||||||||||||||
| Gain (Loss) on Securities [Line Items] | ||||||||||||||||
| Investments, fair value | 15,000,000.0 | 19,300,000 | ||||||||||||||
| Fair Value, Recurring [Member] | Infrastructure fund | ||||||||||||||||
| Gain (Loss) on Securities [Line Items] | ||||||||||||||||
| Investments, fair value | 15,500,000 | 12,900,000 | ||||||||||||||
| Fair Value, Recurring [Member] | Managed Debt Fund | ||||||||||||||||
| Gain (Loss) on Securities [Line Items] | ||||||||||||||||
| Investments, fair value | 1,600,000 | 100,000 | ||||||||||||||
| Fair Value, Recurring [Member] | Third party energy fund | ||||||||||||||||
| Gain (Loss) on Securities [Line Items] | ||||||||||||||||
| Investments, fair value | 32,500,000 | |||||||||||||||
| Fair Value, Recurring [Member] | Lloyd's enhanced liquidity fund | ||||||||||||||||
| Gain (Loss) on Securities [Line Items] | ||||||||||||||||
| Investments, fair value | 27,000,000.0 | 25,700,000 | ||||||||||||||
| Fair Value, Recurring [Member] | Five Times Square | ||||||||||||||||
| Gain (Loss) on Securities [Line Items] | ||||||||||||||||
| Investments, fair value | 43,200,000 | 40,000,000.0 | ||||||||||||||
| Fair Value, Recurring [Member] | Five Times Square 2 | ||||||||||||||||
| Gain (Loss) on Securities [Line Items] | ||||||||||||||||
| Investments, fair value | 2,500,000 | |||||||||||||||
| Fair Value, Recurring [Member] | Equity investments | ||||||||||||||||
| Gain (Loss) on Securities [Line Items] | ||||||||||||||||
| Investments, fair value | 8,100,000 | 0 | ||||||||||||||
| Limited Partner | ||||||||||||||||
| Gain (Loss) on Securities [Line Items] | ||||||||||||||||
| Restricted Assets | $ 20,000,000.0 | $ 100,000,000.0 | ||||||||||||||
| Limited Partner | Managed lending fund | ||||||||||||||||
| Gain (Loss) on Securities [Line Items] | ||||||||||||||||
| Restricted Assets | $ 2,800,000 | $ 10,500,000 | ||||||||||||||
| Limited Partner | Real estate fund | Apollo real estate fund | ||||||||||||||||
| Gain (Loss) on Securities [Line Items] | ||||||||||||||||
| Restricted Assets | $ 30,000,000.0 | |||||||||||||||
| Limited Partner | Infrastructure fund | ||||||||||||||||
| Gain (Loss) on Securities [Line Items] | ||||||||||||||||
| Restricted Assets | $ 15,000,000.0 | |||||||||||||||
| Limited Partner | Managed Debt Fund | ||||||||||||||||
| Gain (Loss) on Securities [Line Items] | ||||||||||||||||
| Restricted Assets | £ | £ 7.0 | |||||||||||||||
| Limited Partner | Third party energy fund | ||||||||||||||||
| Gain (Loss) on Securities [Line Items] | ||||||||||||||||
| Restricted Assets | $ 55,000,000.0 | |||||||||||||||
| Limited Partner | Lloyd's enhanced liquidity fund | ||||||||||||||||
| Gain (Loss) on Securities [Line Items] | ||||||||||||||||
| Restricted Assets | $ 25,000,000.0 | |||||||||||||||
| Commercial mortgage loans | ||||||||||||||||
| Gain (Loss) on Securities [Line Items] | ||||||||||||||||
| Fair Market Value | 25,400,000 | 79,700,000 | ||||||||||||||
| Middle market loans and other private debt | ||||||||||||||||
| Gain (Loss) on Securities [Line Items] | ||||||||||||||||
| Fair Market Value | 28,900,000 | 61,000,000.0 | ||||||||||||||
| Private asset backed securities | ||||||||||||||||
| Gain (Loss) on Securities [Line Items] | ||||||||||||||||
| Fair Market Value | 83,800,000 | 151,800,000 | ||||||||||||||
| Global corporate securities | ||||||||||||||||
| Gain (Loss) on Securities [Line Items] | ||||||||||||||||
| Fair Market Value | $ 34,200,000 | $ 18,500,000 | ||||||||||||||
| ||||||||||||||||
Variable Interest Entities - Narrative (Details) - Investment |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Payables and Accruals [Abstract] | ||
| Number of investments in VIEs | 1 | 1 |
Fair Value Measurements - Financial Assets Measured on Recurring Basis (Details) - USD ($) |
12 Months Ended | ||||
|---|---|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Privately-held Investments, available for sale, at fair value | [1] | $ 50,500,000 | $ 24,200,000 | ||
| Catastrophe Bonds, Fair Value Disclosure | 0.0 | 1,000,000.0 | |||
| Derivative assets | 5,000,000.0 | 17,000,000.0 | |||
| Fair Market Value | 5,109,300,000 | 4,978,300,000 | |||
| Fair Market Value | 1,162,000,000 | 1,488,700,000 | |||
| Recurring | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 88,300,000 | 111,700,000 | |||
| Privately-held Investments, at fair value | 121,800,000 | ||||
| Total | 6,551,900,000 | 6,701,700,000 | |||
| Recurring | Derivatives at fair value | Foreign exchange contracts | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Derivative assets | 5,000,000.0 | 17,000,000.0 | |||
| Recurring | Liabilities under derivative contracts | Foreign exchange contracts | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Liabilities under derivative contracts, fair value | (12,100,000) | (45,900,000) | |||
| Recurring | Liabilities under derivative contracts | Loss Portfolio Transfer | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Liabilities under derivative contracts, fair value | (3,600,000) | ||||
| Recurring | Fixed income securities | Non-agency commercial mortgage-backed securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 9,500,000 | ||||
| Recurring | Fixed income securities — Available for sale | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 5,013,400,000 | 4,692,200,000 | |||
| Recurring | Short-term investments — Available for sale | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 45,400,000 | 261,900,000 | |||
| Recurring | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 1,040,200,000 | 1,199,900,000 | |||
| Catastrophe Bonds, Fair Value Disclosure | 1,000,000.0 | ||||
| Recurring | Real estate fund | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 279,600,000 | 267,200,000 | |||
| Recurring | Privately-held investments — Available for sale | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Privately-held Investments, available for sale, at fair value | 50,500,000 | ||||
| Recurring | Equity investments | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 8,100,000 | 0 | |||
| Recurring | Level 1 | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Privately-held Investments, at fair value | 0 | ||||
| Total | 1,857,900,000 | 2,207,800,000 | |||
| Recurring | Level 1 | Derivatives at fair value | Foreign exchange contracts | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Derivative assets | 0 | 0 | |||
| Recurring | Level 1 | Liabilities under derivative contracts | Foreign exchange contracts | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Liabilities under derivative contracts, fair value | 0 | 0 | |||
| Recurring | Level 1 | Liabilities under derivative contracts | Loss Portfolio Transfer | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Liabilities under derivative contracts, fair value | 0 | ||||
| Recurring | Level 1 | Fixed income securities | Non-agency commercial mortgage-backed securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | ||||
| Recurring | Level 1 | Fixed income securities — Available for sale | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 1,518,300,000 | 1,675,700,000 | |||
| Recurring | Level 1 | Short-term investments — Available for sale | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 42,500,000 | 260,200,000 | |||
| Recurring | Level 1 | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 289,000,000.0 | 270,900,000 | |||
| Catastrophe Bonds, Fair Value Disclosure | 0 | ||||
| Recurring | Level 1 | Real estate fund | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| Recurring | Level 1 | Privately-held investments — Available for sale | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Privately-held Investments, available for sale, at fair value | 0 | ||||
| Recurring | Level 1 | Equity investments | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 8,100,000 | ||||
| Recurring | Level 2 | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Privately-held Investments, at fair value | 0 | ||||
| Total | 4,242,100,000 | 3,919,300,000 | |||
| Recurring | Level 2 | Derivatives at fair value | Foreign exchange contracts | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Derivative assets | 5,000,000.0 | 17,000,000.0 | |||
| Recurring | Level 2 | Liabilities under derivative contracts | Foreign exchange contracts | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Liabilities under derivative contracts, fair value | (12,100,000) | (45,900,000) | |||
| Recurring | Level 2 | Liabilities under derivative contracts | Loss Portfolio Transfer | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Liabilities under derivative contracts, fair value | 0 | ||||
| Recurring | Level 2 | Fixed income securities | Non-agency commercial mortgage-backed securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 9,500,000 | ||||
| Recurring | Level 2 | Fixed income securities — Available for sale | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 3,495,100,000 | 3,016,500,000 | |||
| Recurring | Level 2 | Short-term investments — Available for sale | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 2,900,000 | 1,700,000 | |||
| Recurring | Level 2 | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 751,200,000 | 929,000,000.0 | |||
| Catastrophe Bonds, Fair Value Disclosure | 1,000,000.0 | ||||
| Recurring | Level 2 | Real estate fund | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| Recurring | Level 2 | Privately-held investments — Available for sale | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Privately-held Investments, available for sale, at fair value | 0 | ||||
| Recurring | Level 2 | Equity investments | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | ||||
| Recurring | Level 3 | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Privately-held Investments, at fair value | 121,800,000 | ||||
| Total | 172,300,000 | 307,400,000 | |||
| Change in unrealized investment gains (losses) | 1,400,000 | ||||
| Fair Market Value | 172,300,000 | ||||
| Recurring | Level 3 | Liability | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Liabilities at beginning of year | 0 | (3,600,000) | $ (16,500,000) | ||
| Liability purchases | 0 | 0 | |||
| Liability transfers | 0 | 0 | |||
| Liability, Transfers out of Level 3 | 0 | 0 | |||
| Liability sales | 700,000 | 0 | |||
| Liability, increase (decrease) in fv included in net income | 2,900,000 | 12,900,000 | |||
| Change in unrealized gains or losses | 0 | 12,900,000 | |||
| Recurring | Level 3 | Loss Portfolio Transfer | Liability | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Liabilities at beginning of year | 0 | (3,600,000) | (16,500,000) | ||
| Liability purchases | 0 | 0 | |||
| Liability transfers | 0 | 0 | |||
| Liability, Transfers out of Level 3 | 0 | 0 | |||
| Liability sales | 700,000 | 0 | |||
| Liability, increase (decrease) in fv included in net income | 2,900,000 | 12,900,000 | |||
| Change in unrealized gains or losses | 0 | 12,900,000 | |||
| Recurring | Level 3 | Derivatives at fair value | Foreign exchange contracts | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Derivative assets | 0 | 0 | |||
| Recurring | Level 3 | Liabilities under derivative contracts | Foreign exchange contracts | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Liabilities under derivative contracts, fair value | 0 | 0 | |||
| Recurring | Level 3 | Liabilities under derivative contracts | Loss Portfolio Transfer | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Liabilities under derivative contracts, fair value | (3,600,000) | ||||
| Recurring | Level 3 | Assets | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Purchases and issuances | 126,400,000 | ||||
| Transferred in or out of Level 3 | 12,600,000 | ||||
| Transfers Into Level 3 | 0 | ||||
| Settlements and sales | (256,000,000.0) | ||||
| Increase (decrease) in fair value included in net income | 3,500,000 | ||||
| Fair Market Value | 311,000,000.0 | ||||
| Recurring | Level 3 | Fixed income securities | Non-agency commercial mortgage-backed securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | ||||
| Recurring | Level 3 | Fixed income securities — Available for sale | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| Recurring | Level 3 | Short-term investments — Available for sale | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| Recurring | Level 3 | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| Catastrophe Bonds, Fair Value Disclosure | 0 | ||||
| Recurring | Level 3 | Real estate fund | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | ||||
| Recurring | Level 3 | Commercial mortgage loans | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Change in unrealized investment gains (losses) | (300,000) | 0 | |||
| Fair Market Value | 25,400,000 | 79,700,000 | |||
| Recurring | Level 3 | Commercial mortgage loans | Assets | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Purchases and issuances | 100,000 | 500,000 | |||
| Transfers Into Level 3 | 0 | 0 | |||
| Transfers out of Level 3 | 0 | 0 | |||
| Settlements and sales | (56,300,000) | (184,400,000) | |||
| Increase (decrease) in fair value included in net income | 1,900,000 | (11,300,000) | |||
| Fair Market Value | 79,700,000 | 274,900,000 | |||
| Recurring | Level 3 | Middle market loans and other private debt | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Change in unrealized investment gains (losses) | (2,700,000) | 0 | |||
| Fair Market Value | 28,900,000 | 61,000,000.0 | |||
| Recurring | Level 3 | Middle market loans and other private debt | Assets | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Purchases and issuances | 21,700,000 | 400,000 | |||
| Transfers Into Level 3 | 0 | 0 | |||
| Transfers out of Level 3 | 0 | 0 | |||
| Settlements and sales | (49,400,000) | (35,500,000) | |||
| Increase (decrease) in fair value included in net income | (4,400,000) | 400,000 | |||
| Fair Market Value | 61,000,000.0 | 84,800,000 | |||
| Recurring | Level 3 | Global corporate securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Change in unrealized investment gains (losses) | 0 | 0 | |||
| Fair Market Value | 0 | 18,500,000 | |||
| Recurring | Level 3 | Global corporate securities | Assets | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Purchases and issuances | 0 | 4,400,000 | |||
| Transfers Into Level 3 | 0 | 0 | |||
| Transfers out of Level 3 | 0 | 0 | |||
| Settlements and sales | (18,600,000) | (300,000) | |||
| Increase (decrease) in fair value included in net income | 100,000 | 0 | |||
| Fair Market Value | 18,500,000 | 14,400,000 | |||
| Recurring | Level 3 | Equity Securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Change in unrealized investment gains (losses) | 0 | ||||
| Fair Market Value | 0 | ||||
| Recurring | Level 3 | Equity Securities | Assets | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Purchases and issuances | 0 | ||||
| Transfers Into Level 3 | 0 | ||||
| Transfers out of Level 3 | 0 | ||||
| Settlements and sales | (7,100,000) | ||||
| Increase (decrease) in fair value included in net income | 0 | ||||
| Fair Market Value | 18,000,000.0 | ||||
| Recurring | Level 3 | Short-term investments | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Change in unrealized investment gains (losses) | 1,300,000 | ||||
| Fair Market Value | 311,000,000.0 | ||||
| Recurring | Level 3 | Short-term investments | Assets | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Purchases and issuances | 71,400,000 | ||||
| Transfers Into Level 3 | 0 | ||||
| Transfers out of Level 3 | 0 | ||||
| Settlements and sales | (239,700,000) | ||||
| Increase (decrease) in fair value included in net income | (10,600,000) | ||||
| Fair Market Value | 489,900,000 | ||||
| Recurring | Level 3 | Asset-backed | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Change in unrealized investment gains (losses) | 3,400,000 | 1,100,000 | |||
| Fair Market Value | 67,500,000 | 127,600,000 | |||
| Recurring | Level 3 | Asset-backed | Assets | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Purchases and issuances | 56,100,000 | 56,100,000 | |||
| Transfers Into Level 3 | 0 | 0 | |||
| Transfers out of Level 3 | (2,000,000.0) | 0 | |||
| Settlements and sales | (116,900,000) | (12,400,000) | |||
| Increase (decrease) in fair value included in net income | 2,700,000 | 1,000,000.0 | |||
| Fair Market Value | 127,600,000 | 82,900,000 | |||
| Recurring | Level 3 | Privately-held investments — Available for sale | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Privately-held Investments, available for sale, at fair value | 50,500,000 | ||||
| Recurring | Level 3 | Equity investments | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | ||||
| Recurring | NAV practical expedient | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Privately-held Investments, at fair value | 0 | 0 | |||
| Total | 279,600,000 | 267,200,000 | |||
| Recurring | NAV practical expedient | Derivatives at fair value | Foreign exchange contracts | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Derivative assets | 0 | 0 | |||
| Recurring | NAV practical expedient | Liabilities under derivative contracts | Foreign exchange contracts | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Liabilities under derivative contracts, fair value | 0 | 0 | |||
| Recurring | NAV practical expedient | Liabilities under derivative contracts | Loss Portfolio Transfer | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Liabilities under derivative contracts, fair value | 0 | ||||
| Recurring | NAV practical expedient | Fixed income securities | Non-agency commercial mortgage-backed securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| Recurring | NAV practical expedient | Fixed income securities — Available for sale | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| Recurring | NAV practical expedient | Short-term investments — Available for sale | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| Recurring | NAV practical expedient | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| Catastrophe Bonds, Fair Value Disclosure | 0 | ||||
| Recurring | NAV practical expedient | Short-term investments trading at fair value | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | ||||
| Recurring | NAV practical expedient | Real estate fund | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 279,600,000 | 267,200,000 | |||
| Recurring | NAV practical expedient | Privately-held investments — Available for sale | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Privately-held Investments, available for sale, at fair value | 0 | 0 | |||
| Recurring | NAV practical expedient | Equity investments | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | ||||
| U.S. government | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Fair Market Value | 1,222,000,000 | 1,480,600,000 | |||
| Fair Market Value | 263,900,000 | 261,300,000 | |||
| U.S. government | Recurring | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 1,222,000,000 | 1,480,600,000 | |||
| U.S. government | Recurring | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 263,900,000 | 261,300,000 | |||
| U.S. government | Recurring | Level 1 | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 1,222,000,000 | 1,480,600,000 | |||
| U.S. government | Recurring | Level 1 | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 263,900,000 | 261,300,000 | |||
| U.S. government | Recurring | Level 2 | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| U.S. government | Recurring | Level 2 | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| U.S. government | Recurring | Level 3 | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| U.S. government | Recurring | Level 3 | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| U.S. government | Recurring | NAV practical expedient | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| U.S. government | Recurring | NAV practical expedient | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| U.S. agency | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Fair Market Value | 2,000,000.0 | 7,200,000 | |||
| U.S. agency | Recurring | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 2,000,000.0 | 7,200,000 | |||
| U.S. agency | Recurring | Level 1 | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| U.S. agency | Recurring | Level 2 | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 2,000,000.0 | 7,200,000 | |||
| U.S. agency | Recurring | Level 3 | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| U.S. agency | Recurring | NAV practical expedient | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| Municipal | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Fair Market Value | 92,300,000 | 82,300,000 | |||
| Fair Market Value | 4,700,000 | 1,600,000 | |||
| Municipal | Recurring | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 92,300,000 | 82,300,000 | |||
| Municipal | Recurring | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 4,700,000 | 1,600,000 | |||
| Municipal | Recurring | Level 1 | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| Municipal | Recurring | Level 1 | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| Municipal | Recurring | Level 2 | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 92,300,000 | 82,300,000 | |||
| Municipal | Recurring | Level 2 | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 4,700,000 | 1,600,000 | |||
| Municipal | Recurring | Level 3 | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| Municipal | Recurring | Level 3 | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| Municipal | Recurring | NAV practical expedient | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| Municipal | Recurring | NAV practical expedient | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| Corporate | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Fair Market Value | 1,997,600,000 | 1,986,400,000 | |||
| Fair Market Value | 141,200,000 | 151,100,000 | |||
| Corporate | Recurring | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 1,997,600,000 | 1,986,400,000 | |||
| Corporate | Recurring | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 141,200,000 | 151,100,000 | |||
| Corporate | Recurring | Level 1 | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| Corporate | Recurring | Level 1 | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| Corporate | Recurring | Level 2 | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 1,997,600,000 | 1,986,400,000 | |||
| Corporate | Recurring | Level 2 | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 141,200,000 | 151,100,000 | |||
| Corporate | Recurring | Level 3 | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| Corporate | Recurring | Level 3 | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| Corporate | Recurring | NAV practical expedient | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| Corporate | Recurring | NAV practical expedient | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| Non-U.S. government-backed corporate | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Fair Market Value | 66,300,000 | 131,300,000 | |||
| Fair Market Value | 2,800,000 | ||||
| Non-U.S. government-backed corporate | Recurring | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 66,300,000 | 131,300,000 | |||
| Non-U.S. government-backed corporate | Recurring | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 2,800,000 | ||||
| Non-U.S. government-backed corporate | Recurring | Level 1 | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| Non-U.S. government-backed corporate | Recurring | Level 1 | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | ||||
| Non-U.S. government-backed corporate | Recurring | Level 2 | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 66,300,000 | 131,300,000 | |||
| Non-U.S. government-backed corporate | Recurring | Level 2 | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 2,800,000 | ||||
| Non-U.S. government-backed corporate | Recurring | Level 3 | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| Non-U.S. government-backed corporate | Recurring | Level 3 | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | ||||
| Non-U.S. government-backed corporate | Recurring | NAV practical expedient | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| Non-U.S. government-backed corporate | Recurring | NAV practical expedient | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | ||||
| Non-U.S. government | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Fair Market Value | 401,600,000 | 246,800,000 | |||
| Fair Market Value | 37,600,000 | 24,400,000 | |||
| Non-U.S. government | Recurring | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 401,600,000 | 246,800,000 | |||
| Non-U.S. government | Recurring | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 37,600,000 | 24,400,000 | |||
| Non-U.S. government | Recurring | Level 1 | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 296,300,000 | 195,100,000 | |||
| Non-U.S. government | Recurring | Level 1 | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 25,100,000 | 9,600,000 | |||
| Non-U.S. government | Recurring | Level 2 | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 105,300,000 | 51,700,000 | |||
| Non-U.S. government | Recurring | Level 2 | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 12,500,000 | 14,800,000 | |||
| Non-U.S. government | Recurring | Level 3 | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| Non-U.S. government | Recurring | Level 3 | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| Non-U.S. government | Recurring | NAV practical expedient | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| Non-U.S. government | Recurring | NAV practical expedient | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| Asset-backed | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Fair Market Value | 501,000,000.0 | 234,500,000 | |||
| Fair Market Value | 460,700,000 | 625,200,000 | |||
| Asset-backed | Recurring | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 501,000,000.0 | 234,500,000 | |||
| Asset-backed | Recurring | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 460,700,000 | 625,200,000 | |||
| Asset-backed | Recurring | Level 1 | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| Asset-backed | Recurring | Level 1 | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| Asset-backed | Recurring | Level 2 | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 501,000,000.0 | 234,500,000 | |||
| Asset-backed | Recurring | Level 2 | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 460,700,000 | 625,200,000 | |||
| Asset-backed | Recurring | Level 3 | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| Asset-backed | Recurring | Level 3 | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| Asset-backed | Recurring | NAV practical expedient | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| Asset-backed | Recurring | NAV practical expedient | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| Non-agency commercial mortgage-backed securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Fair Market Value | 9,500,000 | 4,400,000 | |||
| Non-agency commercial mortgage-backed securities | Recurring | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 4,400,000 | ||||
| Non-agency commercial mortgage-backed securities | Recurring | Level 1 | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | ||||
| Non-agency commercial mortgage-backed securities | Recurring | Level 2 | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 4,400,000 | ||||
| Non-agency commercial mortgage-backed securities | Recurring | Level 3 | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | ||||
| Agency residential mortgage-backed securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Fair Market Value | 721,100,000 | 518,700,000 | |||
| Agency residential mortgage-backed securities | Recurring | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 721,100,000 | ||||
| Agency residential mortgage-backed securities | Recurring | Level 1 | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | ||||
| Agency residential mortgage-backed securities | Recurring | Level 2 | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 721,100,000 | ||||
| Agency residential mortgage-backed securities | Recurring | Level 3 | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | ||||
| Agency residential mortgage-backed securities | Recurring | NAV practical expedient | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| Agency mortgage-backed | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Fair Market Value | 32,100,000 | 31,100,000 | |||
| Agency mortgage-backed | Recurring | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 518,700,000 | ||||
| Agency mortgage-backed | Recurring | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 32,100,000 | 31,100,000 | |||
| Agency mortgage-backed | Recurring | Level 1 | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | ||||
| Agency mortgage-backed | Recurring | Level 1 | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| Agency mortgage-backed | Recurring | Level 2 | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 518,700,000 | ||||
| Agency mortgage-backed | Recurring | Level 2 | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 32,100,000 | 31,100,000 | |||
| Agency mortgage-backed | Recurring | Level 3 | Fixed income securities | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | ||||
| Agency mortgage-backed | Recurring | Level 3 | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| Agency mortgage-backed | Recurring | NAV practical expedient | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| High yield loans | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Fair Market Value | 100,000,000.0 | 102,400,000 | |||
| High yield loans | Recurring | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 100,000,000.0 | 102,400,000 | |||
| High yield loans | Recurring | Level 1 | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| High yield loans | Recurring | Level 2 | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 100,000,000.0 | 102,400,000 | |||
| High yield loans | Recurring | Level 3 | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| High yield loans | Recurring | NAV practical expedient | Fixed income securities, trading | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | 0 | |||
| Fixed income securities, trading | Recurring | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Privately-held Investments, available for sale, at fair value | 24,200,000 | ||||
| Privately-held Investments, at fair value | 286,800,000 | ||||
| Fixed income securities, trading | Recurring | Level 1 | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Privately-held Investments, available for sale, at fair value | 0 | ||||
| Privately-held Investments, at fair value | 0 | ||||
| Fixed income securities, trading | Recurring | Level 2 | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Privately-held Investments, available for sale, at fair value | 0 | ||||
| Privately-held Investments, at fair value | 0 | ||||
| Fixed income securities, trading | Recurring | Level 3 | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Privately-held Investments, available for sale, at fair value | 24,200,000 | ||||
| Privately-held Investments, at fair value | 286,800,000 | ||||
| Short-term investments trading at fair value | Recurring | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 1,000,000.0 | ||||
| Short-term investments trading at fair value | Recurring | Level 1 | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 1,000,000.0 | ||||
| Short-term investments trading at fair value | Recurring | Level 2 | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | ||||
| Short-term investments trading at fair value | Recurring | Level 3 | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Investments, fair value | 0 | ||||
| Asset backed securities, privately-held afs | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Fair Market Value | 16,300,000 | 24,200,000 | |||
| Asset backed securities, privately-held afs | Recurring | Level 3 | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Fair Market Value | 16,300,000 | 24,200,000 | |||
| Change in unrealized investment gains (losses) | 600,000 | 200,000 | |||
| Asset backed securities, privately-held afs | Recurring | Level 3 | Assets | |||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||||
| Fair Market Value | 24,200,000 | $ 14,900,000 | |||
| Purchases and issuances | 14,700,000 | 10,000,000.0 | |||
| Transfers Into Level 3 | 0 | 0 | |||
| Transfers out of Level 3 | (10,600,000) | 0 | |||
| Settlements and sales | (14,800,000) | 0 | |||
| Increase (decrease) in fair value included in net income | $ 2,800,000 | $ (700,000) | |||
| |||||
Fair Value Measurements Fair Value Measurements - Reconciliation of Level 3 Assets and Liabilities (Details) - USD ($) |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Fair Value, Assets Measured on Recurring Basis, Calculation [Roll Forward] | |||
| Fair Market Value | $ 5,109,300,000 | $ 4,978,300,000 | |
| Fair Market Value | 1,162,000,000 | 1,488,700,000 | |
| Asset backed securities, privately-held afs | |||
| Fair Value, Assets Measured on Recurring Basis, Calculation [Roll Forward] | |||
| Fair Market Value | 16,300,000 | 24,200,000 | |
| Privately-held investments, global corporate securities | |||
| Fair Value, Assets Measured on Recurring Basis, Calculation [Roll Forward] | |||
| Fair Market Value | 34,200,000 | ||
| Level 3 | Fair Value, Recurring [Member] | |||
| Fair Value, Assets Measured on Recurring Basis, Calculation [Roll Forward] | |||
| Change in unrealized investment gains (losses) | 1,400,000 | ||
| Fair Market Value | $ 172,300,000 | ||
| Fair Value, Asset, Recurring Basis, Still Held, Unrealized Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration] | Change in net unrealized gains/(losses) on available for sale securities held | ||
| Level 3 | Fair Value, Recurring [Member] | Liability | |||
| Fair Value, Assets Measured on Recurring Basis, Calculation [Roll Forward] | |||
| Asset reclassification | $ 0 | 0 | |
| Liabilities at beginning of year | 0 | (3,600,000) | $ (16,500,000) |
| Liability purchases | 0 | 0 | |
| Liability transfers | 0 | 0 | |
| Liability, Transfers out of Level 3 | 0 | 0 | |
| Liability sales | 700,000 | 0 | |
| Liability, increase (decrease) in fv included in net income | 2,900,000 | 12,900,000 | |
| Change in unrealized gains or losses | 0 | 12,900,000 | |
| Level 3 | Fair Value, Recurring [Member] | Loss Portfolio Transfer | Liability | |||
| Fair Value, Assets Measured on Recurring Basis, Calculation [Roll Forward] | |||
| Asset reclassification | 0 | 0 | |
| Liabilities at beginning of year | 0 | (3,600,000) | (16,500,000) |
| Liability purchases | 0 | 0 | |
| Liability transfers | 0 | 0 | |
| Liability, Transfers out of Level 3 | 0 | 0 | |
| Liability sales | 700,000 | 0 | |
| Liability, increase (decrease) in fv included in net income | 2,900,000 | 12,900,000 | |
| Change in unrealized gains or losses | 0 | 12,900,000 | |
| Level 3 | Fair Value, Recurring [Member] | Commercial mortgage loans | |||
| Fair Value, Assets Measured on Recurring Basis, Calculation [Roll Forward] | |||
| Change in unrealized investment gains (losses) | (300,000) | 0 | |
| Fair Market Value | 25,400,000 | 79,700,000 | |
| Level 3 | Fair Value, Recurring [Member] | Middle market loans and other private debt | |||
| Fair Value, Assets Measured on Recurring Basis, Calculation [Roll Forward] | |||
| Change in unrealized investment gains (losses) | (2,700,000) | 0 | |
| Fair Market Value | 28,900,000 | 61,000,000.0 | |
| Level 3 | Fair Value, Recurring [Member] | Asset-backed | |||
| Fair Value, Assets Measured on Recurring Basis, Calculation [Roll Forward] | |||
| Change in unrealized investment gains (losses) | 3,400,000 | 1,100,000 | |
| Fair Market Value | 67,500,000 | 127,600,000 | |
| Level 3 | Fair Value, Recurring [Member] | Global corporate securities | |||
| Fair Value, Assets Measured on Recurring Basis, Calculation [Roll Forward] | |||
| Change in unrealized investment gains (losses) | 0 | 0 | |
| Fair Market Value | 0 | 18,500,000 | |
| Level 3 | Fair Value, Recurring [Member] | Short-term investments | |||
| Fair Value, Assets Measured on Recurring Basis, Calculation [Roll Forward] | |||
| Change in unrealized investment gains (losses) | 1,300,000 | ||
| Fair Market Value | 311,000,000.0 | ||
| Level 3 | Fair Value, Recurring [Member] | Equity Securities | |||
| Fair Value, Assets Measured on Recurring Basis, Calculation [Roll Forward] | |||
| Change in unrealized investment gains (losses) | 0 | ||
| Fair Market Value | 0 | ||
| Level 3 | Fair Value, Recurring [Member] | Asset backed securities, privately-held afs | |||
| Fair Value, Assets Measured on Recurring Basis, Calculation [Roll Forward] | |||
| Fair Market Value | 16,300,000 | 24,200,000 | |
| Change in unrealized investment gains (losses) | 600,000 | 200,000 | |
| Level 3 | Fair Value, Recurring [Member] | Privately-held investments, global corporate securities | |||
| Fair Value, Assets Measured on Recurring Basis, Calculation [Roll Forward] | |||
| Fair Market Value | 34,200,000 | ||
| Change in unrealized investment gains (losses) | 400,000 | ||
| Assets | Level 3 | Fair Value, Recurring [Member] | |||
| Fair Value, Assets Measured on Recurring Basis, Calculation [Roll Forward] | |||
| Purchases and issuances | 126,400,000 | ||
| Transfers Into Level 3 | 0 | ||
| Asset reclassification | 0 | ||
| Settlements and sales | (256,000,000.0) | ||
| Increase (decrease) in fair value included in net income | 3,500,000 | ||
| Fair Market Value | 311,000,000.0 | ||
| Assets | Level 3 | Fair Value, Recurring [Member] | Commercial mortgage loans | |||
| Fair Value, Assets Measured on Recurring Basis, Calculation [Roll Forward] | |||
| Purchases and issuances | 100,000 | 500,000 | |
| Transfers Into Level 3 | 0 | 0 | |
| Transfers out of Level 3 | 0 | 0 | |
| Asset reclassification | 0 | 0 | |
| Settlements and sales | (56,300,000) | (184,400,000) | |
| Increase (decrease) in fair value included in net income | 1,900,000 | (11,300,000) | |
| Fair Market Value | 79,700,000 | 274,900,000 | |
| Assets | Level 3 | Fair Value, Recurring [Member] | Middle market loans and other private debt | |||
| Fair Value, Assets Measured on Recurring Basis, Calculation [Roll Forward] | |||
| Purchases and issuances | 21,700,000 | 400,000 | |
| Transfers Into Level 3 | 0 | 0 | |
| Transfers out of Level 3 | 0 | 0 | |
| Asset reclassification | 0 | 10,900,000 | |
| Settlements and sales | (49,400,000) | (35,500,000) | |
| Increase (decrease) in fair value included in net income | (4,400,000) | 400,000 | |
| Fair Market Value | 61,000,000.0 | 84,800,000 | |
| Assets | Level 3 | Fair Value, Recurring [Member] | Asset-backed | |||
| Fair Value, Assets Measured on Recurring Basis, Calculation [Roll Forward] | |||
| Purchases and issuances | 56,100,000 | 56,100,000 | |
| Transfers Into Level 3 | 0 | 0 | |
| Transfers out of Level 3 | (2,000,000.0) | 0 | |
| Asset reclassification | 0 | 0 | |
| Settlements and sales | (116,900,000) | (12,400,000) | |
| Increase (decrease) in fair value included in net income | 2,700,000 | 1,000,000.0 | |
| Fair Market Value | 127,600,000 | 82,900,000 | |
| Assets | Level 3 | Fair Value, Recurring [Member] | Global corporate securities | |||
| Fair Value, Assets Measured on Recurring Basis, Calculation [Roll Forward] | |||
| Purchases and issuances | 0 | 4,400,000 | |
| Transfers Into Level 3 | 0 | 0 | |
| Transfers out of Level 3 | 0 | 0 | |
| Asset reclassification | 0 | 0 | |
| Settlements and sales | (18,600,000) | (300,000) | |
| Increase (decrease) in fair value included in net income | 100,000 | 0 | |
| Fair Market Value | 18,500,000 | 14,400,000 | |
| Assets | Level 3 | Fair Value, Recurring [Member] | Short-term investments | |||
| Fair Value, Assets Measured on Recurring Basis, Calculation [Roll Forward] | |||
| Purchases and issuances | 71,400,000 | ||
| Transfers Into Level 3 | 0 | ||
| Transfers out of Level 3 | 0 | ||
| Asset reclassification | 0 | ||
| Settlements and sales | (239,700,000) | ||
| Increase (decrease) in fair value included in net income | (10,600,000) | ||
| Fair Market Value | 489,900,000 | ||
| Assets | Level 3 | Fair Value, Recurring [Member] | Equity Securities | |||
| Fair Value, Assets Measured on Recurring Basis, Calculation [Roll Forward] | |||
| Purchases and issuances | 0 | ||
| Transfers Into Level 3 | 0 | ||
| Transfers out of Level 3 | 0 | ||
| Asset reclassification | (10,900,000) | ||
| Settlements and sales | (7,100,000) | ||
| Increase (decrease) in fair value included in net income | 0 | ||
| Fair Market Value | 18,000,000.0 | ||
| Assets | Level 3 | Fair Value, Recurring [Member] | Asset backed securities, privately-held afs | |||
| Fair Value, Assets Measured on Recurring Basis, Calculation [Roll Forward] | |||
| Fair Market Value | 24,200,000 | $ 14,900,000 | |
| Purchases and issuances | 14,700,000 | 10,000,000.0 | |
| Transfers Into Level 3 | 0 | 0 | |
| Transfers out of Level 3 | (10,600,000) | 0 | |
| Asset reclassification | 0 | 0 | |
| Settlements and sales | (14,800,000) | 0 | |
| Increase (decrease) in fair value included in net income | 2,800,000 | (700,000) | |
| Assets | Level 3 | Fair Value, Recurring [Member] | Privately-held investments, global corporate securities | |||
| Fair Value, Assets Measured on Recurring Basis, Calculation [Roll Forward] | |||
| Fair Market Value | $ 0 | ||
| Purchases and issuances | 33,800,000 | ||
| Transfers Into Level 3 | 0 | ||
| Transfers out of Level 3 | 0 | ||
| Asset reclassification | 0 | ||
| Settlements and sales | 0 | ||
| Increase (decrease) in fair value included in net income | $ 400,000 | ||
Fair Value Measurements - Inputs Used (Details) $ in Millions |
Dec. 31, 2025
USD ($)
Basis_points
rate
|
Dec. 31, 2024
USD ($)
|
||
|---|---|---|---|---|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Privately-held Investments, available for sale, at fair value | [1] | $ 50.5 | $ 24.2 | |
| Recurring | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Privately-held Investments, at fair value | 121.8 | |||
| Recurring | Level 3 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Privately-held Investments, at fair value | 121.8 | |||
| Total, Privately-held Investments | $ 172.3 | |||
| Discounted cash flow | Commercial mortgage loans | Minimum | Level 3 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Trading, Measurement inputs | 0.039 | |||
| Discounted cash flow | Commercial mortgage loans | Maximum | Level 3 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Trading, Measurement inputs | 0.120 | |||
| Discounted cash flow | Commercial mortgage loans | Weighted Average | Level 3 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Trading, Measurement inputs | 0.048 | |||
| Discounted cash flow | Commercial mortgage loans | Recurring | Level 3 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Privately-held Investments, at fair value | $ 25.4 | |||
| Discounted cash flow | Middle market loans | Minimum | Level 3 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Trading, Measurement inputs | 0.070 | |||
| Discounted cash flow | Middle market loans | Maximum | Level 3 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Trading, Measurement inputs | 0.111 | |||
| Discounted cash flow | Middle market loans | Weighted Average | Level 3 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Trading, Measurement inputs | 0.081 | |||
| Discounted cash flow | Middle market loans | Recurring | Level 3 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Privately-held Investments, at fair value | $ 24.1 | |||
| Discounted cash flow | Asset-backed | Minimum | Level 3 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Trading, Measurement inputs | 0.060 | |||
| Available-for-Sale, Measurement input | 0.041 | |||
| Discounted cash flow | Asset-backed | Maximum | Level 3 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Trading, Measurement inputs | 0.070 | |||
| Available-for-Sale, Measurement input | 0.041 | |||
| Discounted cash flow | Asset-backed | Weighted Average | Level 3 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Trading, Measurement inputs | 0.061 | |||
| Available-for-Sale, Measurement input | 0.041 | |||
| Discounted cash flow | Asset-backed | Recurring | Level 3 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Privately-held Investments, at fair value | $ 67.5 | |||
| Privately-held Investments, available for sale, at fair value | $ 16.3 | |||
| Matrix pricing | Privately-held investments, global corporate securities | Minimum | Level 3 | WAL spread | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Available-for-Sale, Measurement input | Basis_points | (13.0) | |||
| Matrix pricing | Privately-held investments, global corporate securities | Minimum | Level 3 | Capital size spread | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Available-for-Sale, Measurement input | Basis_points | 25.0 | |||
| Matrix pricing | Privately-held investments, global corporate securities | Maximum | Level 3 | WAL spread | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Available-for-Sale, Measurement input | 8.1 | |||
| Matrix pricing | Privately-held investments, global corporate securities | Maximum | Level 3 | Capital size spread | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Available-for-Sale, Measurement input | Basis_points | 25.0 | |||
| Matrix pricing | Privately-held investments, global corporate securities | Weighted Average | Level 3 | WAL spread | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Available-for-Sale, Measurement input | (2.9) | |||
| Matrix pricing | Privately-held investments, global corporate securities | Weighted Average | Level 3 | Capital size spread | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Available-for-Sale, Measurement input | Basis_points | 25.0 | |||
| Matrix pricing | Privately-held investments, global corporate securities | Recurring | Level 3 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Privately-held Investments, available for sale, at fair value | $ 34.2 | |||
| Valuation Technique, Price of Comparable Business | Middle market loans | Minimum | Level 3 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Trading, Measurement inputs | rate | 6.8 | |||
| Valuation Technique, Price of Comparable Business | Middle market loans | Maximum | Level 3 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Trading, Measurement inputs | rate | 6.8 | |||
| Valuation Technique, Price of Comparable Business | Middle market loans | Weighted Average | Level 3 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Trading, Measurement inputs | rate | 6.8 | |||
| Valuation Technique, Price of Comparable Business | Middle market loans | Recurring | Level 3 | ||||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||||
| Privately-held Investments, at fair value | $ 4.8 | |||
| ||||
Fair Value Measurements - Additional Information - Narrative (Details) |
12 Months Ended | |
|---|---|---|
|
Dec. 31, 2025
USD ($)
quotesPerInvestment
|
Dec. 31, 2024
USD ($)
quotesPerInvestment
|
|
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Quotes per fixed income investment | quotesPerInvestment | 2.8 | 3.0 |
| Recurring | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Privately-held Investments, at fair value | $ 121,800,000 | |
| Recurring | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Privately-held Investments, at fair value | 121,800,000 | |
| Total, Privately-held Investments | 172,300,000 | |
| Assets | Recurring | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Transfers Into Level 3 | 0 | |
| Settlements and sales | $ (256,000,000.0) | |
| Equity Securities | Assets | Recurring | Level 3 | ||
| Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
| Transfers out of Level 3 | $ 0 | |
| Transfers Into Level 3 | 0 | |
| Settlements and sales | $ (7,100,000) | |
Reinsurance - Summary of Assumed and Ceded Reinsurance on Premiums Written, Premiums Earned and Insurance Losses and Loss Adjustment Expenses (Details) - USD ($) $ in Millions |
12 Months Ended | ||||
|---|---|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|||
| Premiums written: | |||||
| Insurance | $ 2,768.1 | $ 2,723.5 | $ 2,446.6 | ||
| Reinsurance | 1,905.1 | 1,885.8 | 1,521.0 | ||
| Ceded | (1,837.2) | (1,666.7) | (1,385.7) | ||
| Net written premiums | 2,836.0 | 2,942.6 | 2,581.9 | ||
| Premiums earned: | |||||
| Insurance | 2,752.2 | 2,565.7 | 2,444.8 | ||
| Reinsurance | 1,850.0 | 1,822.1 | 1,562.0 | ||
| Ceded | (1,770.3) | (1,498.1) | (1,392.3) | ||
| Net premiums earned | [1] | 2,831.9 | 2,889.7 | 2,614.5 | |
| Losses and loss adjustment expenses: | |||||
| Insurance | (1,647.2) | (1,759.1) | (1,644.5) | ||
| Reinsurance | (985.9) | (915.8) | (707.2) | ||
| Ceded | 1,086.4 | 957.1 | 798.7 | ||
| Losses and loss adjustment expenses | [1] | $ (1,546.7) | $ (1,717.8) | $ (1,553.0) | |
| |||||
Reinsurance - Additional Information (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items] | |||
| Reinsurance Recoverable, Allowance for Credit Loss | $ 16.2 | $ 27.5 | $ 3.7 |
| Reinsurance Recoverable, Allowance for Credit Loss, Period Increase (Decrease) | $ (11.3) | $ 23.8 | |
Derivative Contracts - Fair Value of Derivative Instruments (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Not Designated as Hedging Instrument | Foreign exchange contracts | ||
| Derivatives, Fair Value [Line Items] | ||
| Derivative, Notional Amount | $ 1,404.0 | $ 1,586.9 |
| Cash collateral | 0.0 | 0.8 |
| Not Designated as Hedging Instrument | Derivative assets | Foreign exchange contracts | ||
| Derivatives, Fair Value [Line Items] | ||
| Fair Value | 4.5 | 17.0 |
| Derivative, Notional Amount | 529.5 | 550.0 |
| Not Designated as Hedging Instrument | Derivative liabilities | Foreign exchange contracts | ||
| Derivatives, Fair Value [Line Items] | ||
| Fair Value | (12.1) | (41.7) |
| Derivative, Notional Amount | 874.5 | 1,036.9 |
| Not Designated as Hedging Instrument | Derivative liabilities | Embedded Derivative Financial Instruments | ||
| Derivatives, Fair Value [Line Items] | ||
| Fair Value | 0.0 | (3.6) |
| Derivative, Notional Amount | 0.0 | 0.0 |
| Designated as Hedging Instrument | Foreign exchange contracts | ||
| Derivatives, Fair Value [Line Items] | ||
| Cash collateral | 0.0 | 2.0 |
| Designated as Hedging Instrument | Derivative assets | Foreign exchange contracts | ||
| Derivatives, Fair Value [Line Items] | ||
| Fair Value | 0.5 | 0.0 |
| Derivative, Notional Amount | 186.8 | 0.0 |
| Designated as Hedging Instrument | Derivative liabilities | Foreign exchange contracts | ||
| Derivatives, Fair Value [Line Items] | ||
| Fair Value | 0.0 | (4.2) |
| Derivative, Notional Amount | $ 0.0 | $ 158.0 |
Derivative Contracts - Gain/(Loss) Recognized in Income on Derivative (Details) - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
|
| Not Designated as Hedging Instrument | Foreign exchange contracts | ||
| Derivative Instruments, Gain (Loss) [Line Items] | ||
| Gain (loss) to net income from derivative instruments | $ 43.9 | $ (34.0) |
| Not Designated as Hedging Instrument | Loss portfolio transfer liability, embedded derivative | ||
| Derivative Instruments, Gain (Loss) [Line Items] | ||
| Gain (loss) to net income from derivative instruments | 3.6 | 12.9 |
| Designated as Hedging Instrument | Foreign exchange contracts | General, administrative and corporate expenses | ||
| Derivative Instruments, Gain (Loss) [Line Items] | ||
| Gain (loss) on foreign currency fair value hedge derivatives | 0.7 | (0.9) |
| Designated as Hedging Instrument | Foreign exchange contracts | Net change from current period hedged transactions | ||
| Derivative Instruments, Gain (Loss) [Line Items] | ||
| Gain (loss) on foreign currency fair value hedge derivatives | $ 6.7 | $ (6.5) |
Derivative Contracts - Additional Information (Details) - USD ($) $ in Millions |
12 Months Ended | |||
|---|---|---|---|---|
Oct. 01, 2022 |
Dec. 31, 2026 |
Dec. 31, 2025 |
Dec. 31, 2024 |
|
| Reinsurance Contracts [Axis]: Funds withheld credited with interest for periods after October 1, 2022 | ||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||
| Reinsurance Retention Policy, Retrocession Premium, Interest Rate | 1.75% | |||
| Level 3 | Liability | Fair Value, Recurring [Member] | ||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||
| Liability, increase (decrease) in fv included in net income | $ 2.9 | $ 12.9 | ||
| Foreign exchange contracts | Not Designated as Hedging Instrument | ||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||
| Purchase of US and foreign exchange | 1,404.0 | 1,586.9 | ||
| Gain (loss) to net income from derivative instruments | 43.9 | (34.0) | ||
| Foreign exchange contracts | Not Designated as Hedging Instrument | Derivative liabilities | ||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||
| Purchase of US and foreign exchange | 874.5 | 1,036.9 | ||
| Foreign exchange contracts | Designated as Hedging Instrument | Derivative liabilities | ||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||
| Purchase of US and foreign exchange | 0.0 | 158.0 | ||
| Foreign exchange contracts | Net change from current period hedged transactions | Designated as Hedging Instrument | ||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||
| Gain (loss) on foreign currency fair value hedge derivatives | 6.7 | (6.5) | ||
| Foreign exchange contracts | General, administrative and corporate expenses | Designated as Hedging Instrument | ||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||
| Gain (loss) on foreign currency fair value hedge derivatives | 0.7 | (0.9) | ||
| Foreign exchange contracts | General, administrative and corporate expenses | Designated as Hedging Instrument | Forecast | ||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||
| Gain (loss) on foreign currency fair value hedge derivatives | $ 0.5 | |||
| Loss Portfolio Transfer | Level 3 | Liability | Fair Value, Recurring [Member] | ||||
| Derivative Instruments, Gain (Loss) [Line Items] | ||||
| Liability, increase (decrease) in fv included in net income | $ 2.9 | $ 12.9 | ||
Deferred Policy Acquisition Costs (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Movement Analysis of Deferred Policy Acquisition Costs [Roll Forward] | |||
| Deferred Policy Acquisition Cost, Beginning Balance | $ 322.1 | $ 296.2 | |
| Acquisition costs deferred | 457.5 | 446.1 | |
| Amortization of deferred acquisition costs | (422.4) | (420.2) | $ (380.2) |
| Deferred Policy Acquisition Cost, Ending Balance | $ 357.2 | $ 322.1 | $ 296.2 |
Reserves for Losses and Adjustment Expenses - Reconciliation of Beginning and Ending Consolidated Loss and Loss Adjustment Expenses (LAE) Reserves (Details) - USD ($) $ in Millions |
12 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|||||
| Insurance [Abstract] | ||||||||
| Provision for losses and LAE, beginning balance | $ 8,122.6 | [1] | $ 7,810.6 | $ 7,710.9 | ||||
| Less unpaid losses recoverable from reinsurers at the start of the year | (4,172.0) | (4,577.8) | $ (4,897.7) | |||||
| Net losses and LAE reserves, beginning balance | 3,950.6 | 3,232.8 | 2,813.2 | |||||
| Net incurred losses and loss adjustment expenses related to: | ||||||||
| Current year | 1,654.3 | 1,682.2 | 1,492.2 | |||||
| Prior Year | (107.6) | 35.6 | 60.8 | |||||
| Total incurred | 1,546.7 | 1,717.8 | 1,553.0 | |||||
| Net paid losses and loss adjustment expenses related to: | ||||||||
| Current year | (203.8) | (200.2) | (161.1) | |||||
| Prior years | (939.8) | (741.3) | (1,011.9) | |||||
| Total paid | (1,143.6) | (941.5) | (1,173.0) | |||||
| Foreign exchange losses/(gains) | 89.4 | (58.5) | 39.6 | |||||
| Net Reserves for Losses and LAE | 4,443.1 | 3,950.6 | 3,232.8 | $ 2,813.2 | ||||
| Plus unpaid losses recoverable from reinsurers at the end of the year | 4,281.9 | 4,172.0 | 4,577.8 | |||||
| Reserve for losses and loss adjustment expenses at the end of the year | 8,725.0 | [1] | 8,122.6 | [1] | 7,810.6 | |||
| SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items] | ||||||||
| Reinsurance recoverable on unpaid losses | 4,281.9 | 4,172.0 | ||||||
| Prior Year | $ (107.6) | $ 35.6 | $ 60.8 | |||||
| ||||||||
Reserves for Losses and Adjustment Expenses - Additional Information (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Insurance [Abstract] | |||
| Provision for losses and LAE for claims incurred | $ (107.6) | $ 35.6 | $ 60.8 |
| Financial Guarantee Insurance Contracts, Premium Received over Contract Period [Line Items] | |||
| Prior Year | (107.6) | $ 35.6 | $ 60.8 |
| Reinsurance | |||
| Insurance [Abstract] | |||
| Provision for losses and LAE for claims incurred | 2.2 | ||
| Financial Guarantee Insurance Contracts, Premium Received over Contract Period [Line Items] | |||
| Prior Year | 2.2 | ||
| Reinsurance | Post LPT accident years | |||
| Insurance [Abstract] | |||
| Provision for losses and LAE for claims incurred | 28.9 | ||
| Financial Guarantee Insurance Contracts, Premium Received over Contract Period [Line Items] | |||
| Prior Year | 28.9 | ||
| Reinsurance | LPT impact | |||
| Insurance [Abstract] | |||
| Provision for losses and LAE for claims incurred | 26.7 | ||
| Financial Guarantee Insurance Contracts, Premium Received over Contract Period [Line Items] | |||
| Prior Year | 26.7 | ||
| Insurance | |||
| Insurance [Abstract] | |||
| Provision for losses and LAE for claims incurred | 105.4 | ||
| Financial Guarantee Insurance Contracts, Premium Received over Contract Period [Line Items] | |||
| Prior Year | 105.4 | ||
| Insurance | Post LPT accident years | |||
| Insurance [Abstract] | |||
| Provision for losses and LAE for claims incurred | 98.4 | ||
| Financial Guarantee Insurance Contracts, Premium Received over Contract Period [Line Items] | |||
| Prior Year | 98.4 | ||
| Insurance | LPT impact | |||
| Insurance [Abstract] | |||
| Provision for losses and LAE for claims incurred | 7.0 | ||
| Financial Guarantee Insurance Contracts, Premium Received over Contract Period [Line Items] | |||
| Prior Year | $ 7.0 | ||
Reserves for Losses and Adjustment Expenses - Reconciliation of Reinsurance Recoverables on Unpaid Losses (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| SEC Schedule, 12-17, Insurance Companies, Reinsurance [Line Items] | |||
| Reinsurance recoverable for unpaid claims under retroactive reinsurance, beginning balance | $ 4,172.0 | ||
| Reinsurance recoverable for unpaid claims under retroactive reinsurance, beginning balance, Ending Balance | 4,281.9 | $ 4,172.0 | |
| Provision for losses and LAE for claims incurred | $ (107.6) | $ 35.6 | $ 60.8 |
Reserves for Losses and Adjustment Expenses Short-duration Insurance Contracts, Claims by Accident Year (Details) |
Dec. 31, 2025
USD ($)
Integer
|
Dec. 31, 2024
USD ($)
|
Dec. 31, 2023
USD ($)
|
Dec. 31, 2022
USD ($)
|
Dec. 31, 2021
USD ($)
|
Dec. 31, 2020
USD ($)
|
Dec. 31, 2019
USD ($)
|
Dec. 31, 2018
USD ($)
|
Dec. 31, 2017
USD ($)
|
Dec. 31, 2016
USD ($)
|
|---|---|---|---|---|---|---|---|---|---|---|
| Claims Development [Line Items] | ||||||||||
| Liability for claims and claim adjustment expenses, net of reinsurance | $ 4,492,400,000 | $ 4,116,600,000 | ||||||||
| Property Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 1,683,300,000 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | 1,472,200,000 | |||||||||
| All outstanding liabilities for 2016 and subsequent years, net of reinsurance | 211,100,000 | |||||||||
| Short-Duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented | 0 | |||||||||
| Liability for claims and claim adjustment expenses, net of reinsurance | 211,100,000 | 268,900,000 | ||||||||
| Casualty Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 1,595,400,000 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | 697,100,000 | |||||||||
| All outstanding liabilities for 2016 and subsequent years, net of reinsurance | 898,300,000 | |||||||||
| Short-Duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented | 0 | |||||||||
| Liability for claims and claim adjustment expenses, net of reinsurance | 898,300,000 | 756,000,000.0 | ||||||||
| Marine, Aviation and Energy Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 1,266,100,000 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | 1,046,000,000 | |||||||||
| All outstanding liabilities for 2016 and subsequent years, net of reinsurance | 220,100,000 | |||||||||
| Short-Duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented | 0 | |||||||||
| Liability for claims and claim adjustment expenses, net of reinsurance | 220,100,000 | 221,300,000 | ||||||||
| Financial and Professional Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 2,662,700,000 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | 1,553,600,000 | |||||||||
| All outstanding liabilities for 2016 and subsequent years, net of reinsurance | 1,109,100,000 | |||||||||
| Short-Duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented | 0 | |||||||||
| Liability for claims and claim adjustment expenses, net of reinsurance | 1,109,100,000 | 981,300,000 | ||||||||
| Property Catastrophe and Other Property Reinsurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 3,035,600,000 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | 2,548,300,000 | |||||||||
| All outstanding liabilities for 2016 and subsequent years, net of reinsurance | 487,300,000 | |||||||||
| Short-Duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented | 0 | |||||||||
| Liability for claims and claim adjustment expenses, net of reinsurance | 487,300,000 | 560,600,000 | ||||||||
| Casualty Reinsurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 1,946,700,000 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | 882,700,000 | |||||||||
| All outstanding liabilities for 2016 and subsequent years, net of reinsurance | 1,064,000,000 | |||||||||
| Short-Duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented | 0 | |||||||||
| Liability for claims and claim adjustment expenses, net of reinsurance | 1,064,000,000 | 885,900,000 | ||||||||
| Specialty Reinsurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 2,481,300,000 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | 1,978,800,000 | |||||||||
| All outstanding liabilities for 2016 and subsequent years, net of reinsurance | 502,500,000 | |||||||||
| Short-Duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net, Not Separately Presented | 0 | |||||||||
| Liability for claims and claim adjustment expenses, net of reinsurance | 502,500,000 | 442,600,000 | ||||||||
| Accident Year 2016 | Property Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 235,900,000 | 235,900,000 | $ 235,900,000 | $ 235,900,000 | $ 236,300,000 | $ 248,000,000.0 | $ 246,600,000 | $ 245,200,000 | $ 250,400,000 | $ 239,600,000 |
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 0 | |||||||||
| Number of Reported Claims | Integer | 10,758 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 235,900,000 | 235,900,000 | 235,900,000 | 235,900,000 | 236,300,000 | 233,500,000 | 224,500,000 | 202,200,000 | 169,500,000 | 67,200,000 |
| Accident Year 2016 | Casualty Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 127,200,000 | 127,200,000 | 127,200,000 | 127,200,000 | 248,000,000.0 | 202,900,000 | 191,700,000 | 185,100,000 | 189,700,000 | 218,600,000 |
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 0 | |||||||||
| Number of Reported Claims | Integer | 4,886 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 127,200,000 | 127,200,000 | 127,200,000 | 127,200,000 | 126,200,000 | 110,800,000 | 83,400,000 | 40,600,000 | 23,100,000 | 4,200,000 |
| Accident Year 2016 | Marine, Aviation and Energy Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 197,300,000 | 197,300,000 | 197,300,000 | 197,300,000 | 221,900,000 | 220,200,000 | 230,400,000 | 229,800,000 | 230,000,000.0 | 260,700,000 |
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 0 | |||||||||
| Number of Reported Claims | Integer | 4,443 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 197,300,000 | 197,300,000 | 197,300,000 | 197,300,000 | 194,900,000 | 192,200,000 | 165,100,000 | 143,500,000 | 83,000,000.0 | 30,900,000 |
| Accident Year 2016 | Financial and Professional Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 135,300,000 | 135,300,000 | 135,300,000 | 135,300,000 | 187,500,000 | 186,300,000 | 202,600,000 | 217,000,000.0 | 212,400,000 | 191,600,000 |
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 0 | |||||||||
| Number of Reported Claims | Integer | 1,250 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 135,300,000 | 135,300,000 | 135,300,000 | 135,300,000 | 131,100,000 | 126,500,000 | 130,400,000 | 102,400,000 | 71,500,000 | 15,300,000 |
| Accident Year 2016 | Property Catastrophe and Other Property Reinsurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 228,300,000 | 228,300,000 | 228,300,000 | 228,300,000 | 229,900,000 | 238,200,000 | 242,900,000 | 263,900,000 | 265,300,000 | 266,000,000.0 |
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 0 | |||||||||
| Number of Reported Claims | Integer | 1,287 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 228,300,000 | 228,300,000 | 228,300,000 | 228,300,000 | 229,900,000 | 225,800,000 | 212,700,000 | 202,000,000.0 | 161,500,000 | 55,900,000 |
| Accident Year 2016 | Casualty Reinsurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 138,200,000 | 138,200,000 | 138,200,000 | 138,200,000 | 253,100,000 | 262,400,000 | 255,100,000 | 244,700,000 | 245,200,000 | 232,600,000 |
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 0 | |||||||||
| Number of Reported Claims | Integer | 2,317 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 138,200,000 | 138,200,000 | 138,200,000 | 138,200,000 | 138,300,000 | 126,500,000 | 96,400,000 | 64,300,000 | 33,600,000 | 9,200,000 |
| Accident Year 2016 | Specialty Reinsurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 223,700,000 | 223,700,000 | 223,700,000 | 223,700,000 | 213,700,000 | 226,000,000.0 | 231,100,000 | 238,600,000 | 240,500,000 | 239,200,000 |
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 0 | |||||||||
| Number of Reported Claims | Integer | 940 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 223,700,000 | 223,700,000 | 223,700,000 | 223,700,000 | 196,200,000 | 194,800,000 | 184,500,000 | 166,500,000 | 151,600,000 | $ 58,700,000 |
| Accident Year 2017 | Property Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 185,600,000 | 185,600,000 | 185,600,000 | 185,600,000 | 275,500,000 | 254,600,000 | 253,200,000 | 260,100,000 | 297,200,000 | |
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 0 | |||||||||
| Number of Reported Claims | Integer | 9,719 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 185,600,000 | 185,600,000 | 185,600,000 | 185,600,000 | 237,800,000 | 243,900,000 | 223,000,000.0 | 189,700,000 | 97,000,000.0 | |
| Accident Year 2017 | Casualty Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 72,700,000 | 72,700,000 | 72,700,000 | 72,700,000 | 221,100,000 | 199,000,000.0 | 180,100,000 | 176,000,000.0 | 182,600,000 | |
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 0 | |||||||||
| Number of Reported Claims | Integer | 5,585 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 72,700,000 | 72,700,000 | 72,700,000 | 72,700,000 | 92,400,000 | 98,200,000 | 53,300,000 | 23,100,000 | 3,600,000 | |
| Accident Year 2017 | Marine, Aviation and Energy Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 127,000,000.0 | 127,000,000.0 | 127,000,000.0 | 127,000,000.0 | 226,100,000 | 214,800,000 | 207,300,000 | 200,500,000 | 210,000,000.0 | |
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 0 | |||||||||
| Number of Reported Claims | Integer | 6,080 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 127,000,000.0 | 127,000,000.0 | 127,000,000.0 | 127,000,000.0 | 150,500,000 | 168,800,000 | 140,700,000 | 97,900,000 | 40,300,000 | |
| Accident Year 2017 | Financial and Professional Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 137,400,000 | 137,400,000 | 137,400,000 | 137,400,000 | 210,900,000 | 188,900,000 | 188,100,000 | 183,300,000 | 206,900,000 | |
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 0 | |||||||||
| Number of Reported Claims | Integer | 1,766 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 137,400,000 | 137,400,000 | 137,400,000 | 137,400,000 | 135,900,000 | 117,400,000 | 83,400,000 | 51,200,000 | 27,200,000 | |
| Accident Year 2017 | Property Catastrophe and Other Property Reinsurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 437,500,000 | 437,500,000 | 437,500,000 | 437,500,000 | 574,600,000 | 502,900,000 | 514,100,000 | 532,700,000 | 554,000,000.0 | |
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 0 | |||||||||
| Number of Reported Claims | Integer | 1,948 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 437,500,000 | 437,500,000 | 437,500,000 | 437,500,000 | 412,500,000 | 439,300,000 | 415,100,000 | 356,400,000 | 123,300,000 | |
| Accident Year 2017 | Casualty Reinsurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 111,500,000 | 111,500,000 | 111,500,000 | 111,500,000 | 263,600,000 | 252,200,000 | 252,800,000 | 241,900,000 | 244,400,000 | |
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 0 | |||||||||
| Number of Reported Claims | Integer | 2,431 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 111,500,000 | 111,500,000 | 111,500,000 | 111,500,000 | 111,400,000 | 97,500,000 | 59,200,000 | 30,600,000 | 8,900,000 | |
| Accident Year 2017 | Specialty Reinsurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 364,000,000.0 | 364,000,000.0 | 364,000,000.0 | 364,000,000.0 | 359,100,000 | 365,600,000 | 377,100,000 | 393,400,000 | 380,300,000 | |
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 0 | |||||||||
| Number of Reported Claims | Integer | 1,344 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 364,000,000.0 | 364,000,000.0 | 364,000,000.0 | 364,000,000.0 | 308,700,000 | 307,400,000 | 271,800,000 | 239,600,000 | $ 94,900,000 | |
| Accident Year 2018 | Property Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 190,200,000 | 190,200,000 | 190,200,000 | 190,200,000 | 199,800,000 | 191,700,000 | 208,100,000 | 205,400,000 | ||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 0 | |||||||||
| Number of Reported Claims | Integer | 8,201 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 190,200,000 | 190,200,000 | 190,200,000 | 190,200,000 | 178,600,000 | 184,900,000 | 162,800,000 | 62,600,000 | ||
| Accident Year 2018 | Casualty Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 45,600,000 | 45,600,000 | 45,600,000 | 45,600,000 | 169,000,000.0 | 137,700,000 | 126,600,000 | 123,700,000 | ||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 0 | |||||||||
| Number of Reported Claims | Integer | 5,551 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 45,600,000 | 45,600,000 | 45,600,000 | 45,600,000 | 59,900,000 | 44,000,000.0 | 28,100,000 | 3,200,000 | ||
| Accident Year 2018 | Marine, Aviation and Energy Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 151,500,000 | 151,500,000 | 151,500,000 | 151,500,000 | 235,100,000 | 208,900,000 | 207,800,000 | 170,800,000 | ||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 0 | |||||||||
| Number of Reported Claims | Integer | 5,213 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 151,500,000 | 151,500,000 | 151,500,000 | 151,500,000 | 151,500,000 | 133,400,000 | 105,100,000 | 26,800,000 | ||
| Accident Year 2018 | Financial and Professional Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 112,700,000 | 112,700,000 | 112,700,000 | 112,700,000 | 163,600,000 | 154,900,000 | 173,300,000 | 157,500,000 | ||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 0 | |||||||||
| Number of Reported Claims | Integer | 4,661 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 112,700,000 | 112,700,000 | 112,700,000 | 112,700,000 | 112,300,000 | 100,100,000 | 75,000,000.0 | 20,500,000 | ||
| Accident Year 2018 | Property Catastrophe and Other Property Reinsurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 288,600,000 | 288,600,000 | 288,600,000 | 288,600,000 | 518,100,000 | 326,900,000 | 336,000,000.0 | 309,800,000 | ||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 0 | |||||||||
| Number of Reported Claims | Integer | 1,809 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 288,600,000 | 288,600,000 | 288,600,000 | 288,600,000 | 263,300,000 | 270,500,000 | 270,400,000 | 122,500,000 | ||
| Accident Year 2018 | Casualty Reinsurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 93,100,000 | 93,100,000 | 93,100,000 | 93,100,000 | 255,800,000 | 265,700,000 | 258,000,000.0 | 228,400,000 | ||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 0 | |||||||||
| Number of Reported Claims | Integer | 2,372 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 93,100,000 | 93,100,000 | 93,100,000 | 93,100,000 | 93,100,000 | 73,600,000 | 33,600,000 | 7,100,000 | ||
| Accident Year 2018 | Specialty Reinsurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 328,300,000 | 328,300,000 | 328,300,000 | 328,300,000 | 418,200,000 | 393,500,000 | 395,300,000 | 395,000,000.0 | ||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 0 | |||||||||
| Number of Reported Claims | Integer | 1,437 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 328,300,000 | 328,300,000 | 328,300,000 | 328,300,000 | 326,200,000 | 314,400,000 | 280,600,000 | $ 27,600,000 | ||
| Accident Year 2019 | Property Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 190,800,000 | 190,800,000 | 190,800,000 | 190,800,000 | 104,300,000 | 131,900,000 | 128,200,000 | |||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 0 | |||||||||
| Number of Reported Claims | Integer | 6,875 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 190,800,000 | 190,800,000 | 190,800,000 | 190,800,000 | 100,300,000 | 92,400,000 | 49,500,000 | |||
| Accident Year 2019 | Casualty Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 52,600,000 | 52,600,000 | 52,600,000 | 52,600,000 | 156,800,000 | 148,600,000 | 126,200,000 | |||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 0 | |||||||||
| Number of Reported Claims | Integer | 5,269 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 52,600,000 | 52,600,000 | 52,600,000 | 52,600,000 | 65,300,000 | 18,500,000 | 6,400,000 | |||
| Accident Year 2019 | Marine, Aviation and Energy Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 107,600,000 | 107,600,000 | 107,600,000 | 107,600,000 | 124,000,000.0 | 153,000,000.0 | 145,600,000 | |||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 0 | |||||||||
| Number of Reported Claims | Integer | 3,709 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 107,600,000 | 107,600,000 | 107,600,000 | 107,600,000 | 89,800,000 | 72,600,000 | 33,600,000 | |||
| Accident Year 2019 | Financial and Professional Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 132,000,000.0 | 132,000,000.0 | 132,000,000.0 | 132,000,000.0 | 239,500,000 | 261,900,000 | 249,300,000 | |||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 0 | |||||||||
| Number of Reported Claims | Integer | 23,804 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 132,000,000.0 | 132,000,000.0 | 132,000,000.0 | 132,000,000.0 | 121,700,000 | 87,000,000.0 | 27,300,000 | |||
| Accident Year 2019 | Property Catastrophe and Other Property Reinsurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 160,500,000 | 160,500,000 | 160,500,000 | 160,500,000 | 321,200,000 | 230,400,000 | 214,700,000 | |||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 0 | |||||||||
| Number of Reported Claims | Integer | 1,410 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 160,500,000 | 160,500,000 | 160,500,000 | 160,500,000 | 161,700,000 | 136,300,000 | 28,300,000 | |||
| Accident Year 2019 | Casualty Reinsurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 53,000,000.0 | 53,000,000.0 | 53,000,000.0 | 53,000,000.0 | 245,000,000.0 | 254,700,000 | 234,400,000 | |||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 0 | |||||||||
| Number of Reported Claims | Integer | 2,056 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 53,000,000.0 | 53,000,000.0 | 53,000,000.0 | 53,000,000.0 | 52,600,000 | 36,400,000 | 9,300,000 | |||
| Accident Year 2019 | Specialty Reinsurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 400,900,000 | 400,900,000 | 400,900,000 | 400,900,000 | 401,200,000 | 498,300,000 | 474,800,000 | |||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 0 | |||||||||
| Number of Reported Claims | Integer | 1,563 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 400,900,000 | 400,900,000 | 400,900,000 | 400,900,000 | 401,000,000.0 | 382,500,000 | $ 274,000,000.0 | |||
| Accident Year 2020 | Property Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 205,700,000 | 216,900,000 | 216,500,000 | 210,800,000 | 200,700,000 | 206,400,000 | ||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 8,500,000 | |||||||||
| Number of Reported Claims | Integer | 7,689 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 188,700,000 | 180,600,000 | 171,500,000 | 153,400,000 | 125,300,000 | 61,800,000 | ||||
| Accident Year 2020 | Casualty Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 155,200,000 | 154,000,000.0 | 147,900,000 | 142,100,000 | 143,800,000 | 134,600,000 | ||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 33,200,000 | |||||||||
| Number of Reported Claims | Integer | 3,905 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 102,900,000 | 92,700,000 | 62,000,000.0 | 36,500,000 | 9,500,000 | 0 | ||||
| Accident Year 2020 | Marine, Aviation and Energy Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 145,700,000 | 151,700,000 | 126,800,000 | 125,800,000 | 111,300,000 | 110,300,000 | ||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 26,300,000 | |||||||||
| Number of Reported Claims | Integer | 3,874 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 114,200,000 | 109,700,000 | 101,300,000 | 88,800,000 | 66,600,000 | 28,600,000 | ||||
| Accident Year 2020 | Financial and Professional Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 374,400,000 | 355,900,000 | 353,900,000 | 339,700,000 | 349,400,000 | 349,600,000 | ||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 63,500,000 | |||||||||
| Number of Reported Claims | Integer | 106,017 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 293,500,000 | 241,600,000 | 227,000,000.0 | 175,100,000 | 121,700,000 | 47,900,000 | ||||
| Accident Year 2020 | Property Catastrophe and Other Property Reinsurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 376,700,000 | 377,900,000 | 365,300,000 | 354,300,000 | 406,100,000 | 318,500,000 | ||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 5,600,000 | |||||||||
| Number of Reported Claims | Integer | 1,464 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 349,200,000 | 312,600,000 | 312,600,000 | 237,100,000 | 165,500,000 | 41,800,000 | ||||
| Accident Year 2020 | Casualty Reinsurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 206,600,000 | 190,800,000 | 181,600,000 | 199,700,000 | 235,900,000 | 254,600,000 | ||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 37,500,000 | |||||||||
| Number of Reported Claims | Integer | 1,723 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 126,800,000 | 102,400,000 | 71,900,000 | 44,400,000 | 27,900,000 | 9,200,000 | ||||
| Accident Year 2020 | Specialty Reinsurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 374,700,000 | 372,700,000 | 380,300,000 | 376,500,000 | 602,300,000 | 415,000,000.0 | ||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 12,600,000 | |||||||||
| Number of Reported Claims | Integer | 1,538 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 344,300,000 | 335,100,000 | 312,100,000 | 291,400,000 | 270,500,000 | $ 213,300,000 | ||||
| Accident Year 2021 | Property Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 190,800,000 | 194,400,000 | 197,900,000 | 204,700,000 | 210,400,000 | |||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 5,600,000 | |||||||||
| Number of Reported Claims | Integer | 6,828 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 179,500,000 | 165,300,000 | 152,700,000 | 120,800,000 | 59,200,000 | |||||
| Accident Year 2021 | Casualty Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 191,900,000 | 198,200,000 | 200,300,000 | 191,600,000 | 176,500,000 | |||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 56,900,000 | |||||||||
| Number of Reported Claims | Integer | 3,687 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 107,600,000 | 92,700,000 | 54,300,000 | 23,700,000 | 3,200,000 | |||||
| Accident Year 2021 | Marine, Aviation and Energy Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 94,700,000 | 97,200,000 | 95,400,000 | 95,800,000 | 93,000,000.0 | |||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 10,100,000 | |||||||||
| Number of Reported Claims | Integer | 4,785 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 82,300,000 | 70,600,000 | 64,600,000 | 52,200,000 | 23,500,000 | |||||
| Accident Year 2021 | Financial and Professional Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 284,800,000 | 297,900,000 | 296,800,000 | 306,500,000 | 287,800,000 | |||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 46,900,000 | |||||||||
| Number of Reported Claims | Integer | 34,955 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 198,900,000 | 162,800,000 | 131,300,000 | 89,900,000 | 43,600,000 | |||||
| Accident Year 2021 | Property Catastrophe and Other Property Reinsurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 496,200,000 | 504,500,000 | 512,100,000 | 492,400,000 | 663,100,000 | |||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 1,100,000 | |||||||||
| Number of Reported Claims | Integer | 1,530 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 467,000,000.0 | 442,500,000 | 375,000,000.0 | 241,600,000 | 75,500,000 | |||||
| Accident Year 2021 | Casualty Reinsurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 207,500,000 | 202,000,000.0 | 206,300,000 | 217,100,000 | 207,200,000 | |||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 52,100,000 | |||||||||
| Number of Reported Claims | Integer | 1,927 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 123,000,000.0 | 97,500,000 | 64,100,000 | 37,500,000 | 7,900,000 | |||||
| Accident Year 2021 | Specialty Reinsurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 124,400,000 | 138,500,000 | 142,300,000 | 153,000,000.0 | 157,700,000 | |||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 8,700,000 | |||||||||
| Number of Reported Claims | Integer | 1,404 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 98,900,000 | 89,100,000 | 76,200,000 | 53,500,000 | $ 28,500,000 | |||||
| Accident Year 2022 | Property Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 176,000,000.0 | 174,000,000.0 | 177,300,000 | 170,200,000 | ||||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 8,000,000.0 | |||||||||
| Number of Reported Claims | Integer | 5,884 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 159,900,000 | 145,800,000 | 115,200,000 | 41,500,000 | ||||||
| Accident Year 2022 | Casualty Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 216,200,000 | 214,100,000 | 218,500,000 | 207,900,000 | ||||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 97,600,000 | |||||||||
| Number of Reported Claims | Integer | 3,628 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 79,100,000 | 47,500,000 | 27,200,000 | 9,000,000.0 | ||||||
| Accident Year 2022 | Marine, Aviation and Energy Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 105,900,000 | 113,500,000 | 106,400,000 | 108,200,000 | ||||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 18,200,000 | |||||||||
| Number of Reported Claims | Integer | 5,405 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 81,500,000 | 73,900,000 | 57,700,000 | 24,900,000 | ||||||
| Accident Year 2022 | Financial and Professional Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 279,600,000 | 272,800,000 | 304,300,000 | 319,200,000 | ||||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 90,200,000 | |||||||||
| Number of Reported Claims | Integer | 3,339 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 154,800,000 | 114,900,000 | 76,000,000.0 | 18,000,000.0 | ||||||
| Accident Year 2022 | Property Catastrophe and Other Property Reinsurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 386,000,000.0 | 387,800,000 | 394,200,000 | 395,900,000 | ||||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 42,100,000 | |||||||||
| Number of Reported Claims | Integer | 1,505 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 305,100,000 | 271,800,000 | 201,300,000 | 65,200,000 | ||||||
| Accident Year 2022 | Casualty Reinsurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 249,400,000 | 250,000,000.0 | 251,600,000 | 250,500,000 | ||||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 92,100,000 | |||||||||
| Number of Reported Claims | Integer | 2,234 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 104,200,000 | 60,500,000 | 31,300,000 | 9,500,000 | ||||||
| Accident Year 2022 | Specialty Reinsurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 251,600,000 | 200,100,000 | 195,300,000 | 195,400,000 | ||||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 130,000,000.0 | |||||||||
| Number of Reported Claims | Integer | 1,551 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 98,600,000 | 76,100,000 | 54,400,000 | $ 26,300,000 | ||||||
| Accident Year 2023 | Property Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 102,800,000 | 135,400,000 | 156,300,000 | |||||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 10,900,000 | |||||||||
| Number of Reported Claims | Integer | 4,206 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 72,600,000 | 67,300,000 | 30,400,000 | |||||||
| Accident Year 2023 | Casualty Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 251,100,000 | 239,200,000 | 228,500,000 | |||||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 106,600,000 | |||||||||
| Number of Reported Claims | Integer | 3,197 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 85,700,000 | 36,600,000 | 5,600,000 | |||||||
| Accident Year 2023 | Marine, Aviation and Energy Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 105,400,000 | 110,800,000 | 117,300,000 | |||||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 12,200,000 | |||||||||
| Number of Reported Claims | Integer | 4,073 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 86,000,000.0 | 73,400,000 | 27,800,000 | |||||||
| Accident Year 2023 | Financial and Professional Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 350,700,000 | 351,700,000 | 343,400,000 | |||||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 119,300,000 | |||||||||
| Number of Reported Claims | Integer | 3,292 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 166,200,000 | 101,100,000 | 21,600,000 | |||||||
| Accident Year 2023 | Property Catastrophe and Other Property Reinsurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 202,600,000 | 225,500,000 | 230,700,000 | |||||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 16,800,000 | |||||||||
| Number of Reported Claims | Integer | 1,153 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 154,200,000 | 107,300,000 | 44,800,000 | |||||||
| Accident Year 2023 | Casualty Reinsurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 271,600,000 | 272,200,000 | 272,900,000 | |||||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 137,400,000 | |||||||||
| Number of Reported Claims | Integer | 2,393 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 82,000,000.0 | 35,600,000 | 8,500,000 | |||||||
| Accident Year 2023 | Specialty Reinsurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 124,300,000 | 146,000,000.0 | 143,200,000 | |||||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 36,900,000 | |||||||||
| Number of Reported Claims | Integer | 1,324 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 68,800,000 | 48,800,000 | $ 22,700,000 | |||||||
| Accident Year 2024 | Property Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 95,900,000 | 138,300,000 | ||||||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 37,600,000 | |||||||||
| Number of Reported Claims | 2,494 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 43,300,000 | 19,600,000 | ||||||||
| Accident Year 2024 | Casualty Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 243,200,000 | 240,500,000 | ||||||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 185,300,000 | |||||||||
| Number of Reported Claims | 2,423 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 20,700,000 | 3,400,000 | ||||||||
| Accident Year 2024 | Marine, Aviation and Energy Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 102,800,000 | 110,000,000.0 | ||||||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 27,900,000 | |||||||||
| Number of Reported Claims | 3,661 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 59,500,000 | 32,400,000 | ||||||||
| Accident Year 2024 | Financial and Professional Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 436,600,000 | 428,800,000 | ||||||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 203,000,000.0 | |||||||||
| Number of Reported Claims | 4,469 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 168,200,000 | 90,400,000 | ||||||||
| Accident Year 2024 | Property Catastrophe and Other Property Reinsurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 237,000,000.0 | 262,600,000 | ||||||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 51,400,000 | |||||||||
| Number of Reported Claims | Integer | 1,053 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 112,200,000 | 33,300,000 | ||||||||
| Accident Year 2024 | Casualty Reinsurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 298,700,000 | 291,900,000 | ||||||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 220,400,000 | |||||||||
| Number of Reported Claims | Integer | 1,996 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 38,800,000 | 9,700,000 | ||||||||
| Accident Year 2024 | Specialty Reinsurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 152,400,000 | 155,500,000 | ||||||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 99,300,000 | |||||||||
| Number of Reported Claims | Integer | 1,081 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 34,200,000 | $ 14,400,000 | ||||||||
| Accident Year 2025 | Property Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 109,600,000 | |||||||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 31,200,000 | |||||||||
| Number of Reported Claims | 1,781 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 25,700,000 | |||||||||
| Accident Year 2025 | Casualty Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 239,700,000 | |||||||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 212,400,000 | |||||||||
| Number of Reported Claims | 1,767 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 3,000,000.0 | |||||||||
| Accident Year 2025 | Marine, Aviation and Energy Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 128,200,000 | |||||||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 66,800,000 | |||||||||
| Number of Reported Claims | 2,351 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 39,100,000 | |||||||||
| Accident Year 2025 | Financial and Professional Insurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 419,200,000 | |||||||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 332,800,000 | |||||||||
| Number of Reported Claims | 4,730 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 54,600,000 | |||||||||
| Accident Year 2025 | Property Catastrophe and Other Property Reinsurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 222,200,000 | |||||||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 99,200,000 | |||||||||
| Number of Reported Claims | Integer | 702 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 45,700,000 | |||||||||
| Accident Year 2025 | Casualty Reinsurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 317,100,000 | |||||||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 286,900,000 | |||||||||
| Number of Reported Claims | Integer | 1,024 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 12,100,000 | |||||||||
| Accident Year 2025 | Specialty Reinsurance | ||||||||||
| Claims Development [Line Items] | ||||||||||
| Incurred Claims and Allocated Claim Adjustment Expense, Net | 137,000,000.0 | |||||||||
| Incurred but Not Reported (IBNR) Claims Liability, Net | $ 106,200,000 | |||||||||
| Number of Reported Claims | Integer | 833 | |||||||||
| Cumulative paid claims and allocated claim adjustment expense, Net | $ 17,100,000 |
Reserves for Losses and Adjustment Expenses Short-duration insurance contracts - Reconciliation of Claims Development (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
||||
|---|---|---|---|---|---|---|---|---|
| Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | ||||||||
| Liability for claims and claim adjustment expenses, net of reinsurance | $ 4,492.4 | $ 4,116.6 | ||||||
| Reinsurance recoverable on unpaid losses | 4,281.9 | 4,172.0 | ||||||
| Unallocated claims incurred | 71.8 | 58.0 | ||||||
| Carbon syndicate reserves | 55.3 | 26.5 | ||||||
| Liability for unpaid claims and claim adjustment expense, aggregate reconciling items | (49.3) | (166.0) | ||||||
| Liability for Claims and Claims Adjustment Expense | 8,725.0 | [1] | 8,122.6 | [1] | $ 7,810.6 | $ 7,710.9 | ||
| Property Insurance | ||||||||
| Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | ||||||||
| Liability for claims and claim adjustment expenses, net of reinsurance | 211.1 | 268.9 | ||||||
| Casualty Insurance | ||||||||
| Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | ||||||||
| Liability for claims and claim adjustment expenses, net of reinsurance | 898.3 | 756.0 | ||||||
| Marine, Aviation and Energy Insurance | ||||||||
| Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | ||||||||
| Liability for claims and claim adjustment expenses, net of reinsurance | 220.1 | 221.3 | ||||||
| Financial and Professional Insurance | ||||||||
| Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | ||||||||
| Liability for claims and claim adjustment expenses, net of reinsurance | 1,109.1 | 981.3 | ||||||
| Insurance lines | ||||||||
| Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | ||||||||
| Liability for claims and claim adjustment expenses, net of reinsurance | 2,438.6 | 2,227.5 | ||||||
| Reinsurance recoverable on unpaid losses | 2,852.3 | 2,698.0 | ||||||
| Property Catastrophe and Other Property Reinsurance | ||||||||
| Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | ||||||||
| Liability for claims and claim adjustment expenses, net of reinsurance | 487.3 | 560.6 | ||||||
| Casualty Reinsurance | ||||||||
| Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | ||||||||
| Liability for claims and claim adjustment expenses, net of reinsurance | 1,064.0 | 885.9 | ||||||
| Specialty Reinsurance | ||||||||
| Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | ||||||||
| Liability for claims and claim adjustment expenses, net of reinsurance | 502.5 | 442.6 | ||||||
| Reinsurance lines | ||||||||
| Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | ||||||||
| Liability for claims and claim adjustment expenses, net of reinsurance | 2,053.8 | 1,889.1 | ||||||
| Reinsurance recoverable on unpaid losses | 1,429.6 | 1,474.0 | ||||||
| Insurance lines other than short-duration | ||||||||
| Short-duration Insurance Contracts, Reconciliation of Claims Development to Liability [Line Items] | ||||||||
| Other reinsurance balances recoverable | (259.9) | (311.7) | ||||||
| Liability for Claims and Claims Adjustment Expense | $ 83.5 | $ 61.2 | ||||||
| ||||||||
Reserves for Losses and Adjustment Expenses Short-duration Contracts - Historical Claims Duration (Details) |
Dec. 31, 2025 |
|---|---|
| Property Insurance | |
| Short-duration Insurance Contracts, Historical Claims Duration [Line Items] | |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year One | 29.80% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Two | 37.10% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Three | 12.60% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Four | 12.60% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Five | 3.10% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Six | (4.60%) |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Seven | 0.00% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Eight | 0.00% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Nine | 0.00% |
| Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance, Year Ten | 0.00% |
| Casualty Insurance | |
| Short-duration Insurance Contracts, Historical Claims Duration [Line Items] | |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year One | 3.80% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Two | 18.20% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Three | 30.20% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Four | 22.50% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Five | 1.60% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Six | (1.70%) |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Seven | 0.20% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Eight | 0.00% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Nine | 0.00% |
| Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance, Year Ten | 0.00% |
| Marine, Aviation and Energy Insurance | |
| Short-duration Insurance Contracts, Historical Claims Duration [Line Items] | |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year One | 25.30% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Two | 35.20% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Three | 19.30% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Four | 12.00% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Five | 2.90% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Six | (2.80%) |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Seven | 0.30% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Eight | 0.00% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Nine | 0.00% |
| Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance, Year Ten | 0.00% |
| Financial and Professional Insurance | |
| Short-duration Insurance Contracts, Historical Claims Duration [Line Items] | |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year One | 14.40% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Two | 27.80% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Three | 19.50% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Four | 14.80% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Five | 4.60% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Six | (3.70%) |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Seven | 0.80% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Eight | 0.00% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Nine | 0.00% |
| Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance, Year Ten | 0.00% |
| Property Catastrophe and Other Property Reinsurance | |
| Short-duration Insurance Contracts, Historical Claims Duration [Line Items] | |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year One | 21.30% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Two | 42.60% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Three | 16.80% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Four | 7.00% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Five | 2.20% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Six | (3.40%) |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Seven | 0.20% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Eight | 0.00% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Nine | 0.00% |
| Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance, Year Ten | 0.00% |
| Casualty Reinsurance | |
| Short-duration Insurance Contracts, Historical Claims Duration [Line Items] | |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year One | 6.20% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Two | 18.70% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Three | 21.40% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Four | 18.00% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Five | 10.20% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Six | (4.10%) |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Seven | 0.00% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Eight | 0.00% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Nine | 0.00% |
| Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance, Year Ten | 0.00% |
| Specialty Reinsurance | |
| Short-duration Insurance Contracts, Historical Claims Duration [Line Items] | |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year One | 26.00% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Two | 29.50% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Three | 9.90% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Four | 6.60% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Five | 3.30% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Six | (3.70%) |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Seven | 3.10% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Eight | 0.00% |
| Average Annual Percentage Payout of Incurred Claims, Net of Reinsurance, Year Nine | 0.00% |
| Average Annual Percentage Payout of Incurred Claims by Age, Net of Reinsurance, Year Ten | 0.00% |
Income Taxes - Additional Information (Details) - USD ($) $ in Millions |
12 Months Ended | ||||
|---|---|---|---|---|---|
Apr. 01, 2023 |
Dec. 31, 2025 |
Dec. 31, 2023 |
Dec. 31, 2027 |
Dec. 31, 2024 |
|
| Income Taxes [Line Items] | |||||
| Bermuda tax rate | 23.40% | ||||
| Capital loss carryforwards | $ 17.9 | $ 17.8 | |||
| Less valuation allowance | 49.2 | 64.0 | |||
| Bermuda | |||||
| Income Taxes [Line Items] | |||||
| Net operating loss carryforwards | $ 294.8 | 267.0 | |||
| Internal Revenue Service (IRS) | |||||
| Income Taxes [Line Items] | |||||
| U. K. corporate tax rate | 21.00% | ||||
| Net operating loss carryforwards | $ 276.0 | 324.8 | |||
| Operating loss carryforwards, remaining | 276.0 | ||||
| Capital loss carryforwards | 85.3 | ||||
| Less valuation allowance | $ 17.5 | 22.9 | |||
| Internal Revenue Service (IRS) | Minimum | |||||
| Income Taxes [Line Items] | |||||
| Operating loss carryforwards, date of expiration | 2032 | ||||
| Internal Revenue Service (IRS) | Maximum | |||||
| Income Taxes [Line Items] | |||||
| Operating loss carryforwards, date of expiration | 2041 | ||||
| Internal Revenue Service (IRS) | U.S. operating subsidiaries | |||||
| Income Taxes [Line Items] | |||||
| Net operating loss carryforwards | $ 226.4 | ||||
| Capital loss carryforwards | 47.6 | ||||
| Internal Revenue Service (IRS) | U.S. operating subsidiaries | Subsequent Event | |||||
| Income Taxes [Line Items] | |||||
| Operating loss carryforwards, subject to s382 limitation | $ 20.8 | ||||
| Internal Revenue Service (IRS) | Aspen UK's U.S. branch | |||||
| Income Taxes [Line Items] | |||||
| Net operating loss carryforwards | 49.6 | ||||
| Operating loss carryforwards, subject to s382 limitation | 6.5 | ||||
| Internal Revenue Service (IRS) | Aspen UK | |||||
| Income Taxes [Line Items] | |||||
| Capital loss carryforwards | $ 37.7 | ||||
| U.K. | |||||
| Income Taxes [Line Items] | |||||
| U. K. corporate tax rate | 25.00% | 25.00% | 19.00% | ||
| Net operating loss carryforwards | $ 194.6 | 249.5 | |||
| Operating loss carryforwards, remaining | 20.2 | 22.0 | |||
| Less valuation allowance | 20.3 | 26.1 | |||
| U.K. | Lloyd's | |||||
| Income Taxes [Line Items] | |||||
| Deferred tax losses, operating loss carryforward | (61.7) | (29.3) | |||
| U.K. | Other juridictions | |||||
| Income Taxes [Line Items] | |||||
| Deferred tax losses, operating loss carryforward | $ (71.8) | $ (86.1) | |||
Income Taxes - Summary of Total Income Tax (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Income Tax Disclosure [Abstract] | |||
| Income tax expense/(benefit) allocated to net income | $ 103.9 | $ (22.0) | $ (132.1) |
| Income tax expense allocated to other comprehensive income | 37.5 | 3.3 | 20.6 |
| Total income tax expense (benefit) | $ 141.4 | $ (18.7) | $ (111.5) |
Income Taxes - Income/(Loss) Before Tax and Income Tax Expense/(Benefit) Attributable to that Income (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Foreign: | |||
| Income from operations before income taxes | $ 444.1 | $ 464.1 | $ 402.6 |
| Current tax (benefit)/expense, Total | 81.6 | 66.6 | 65.6 |
| Deferred tax, Total | 22.3 | (88.6) | (197.7) |
| Total tax expense/(benefit) | $ 103.9 | (22.0) | (132.1) |
| Bermuda tax rate | 23.40% | ||
| Bermuda | |||
| Income Tax Examination [Line Items] | |||
| Income/(loss) before tax, domestic | $ 109.7 | 85.3 | 148.8 |
| Current tax expense, domestic | 2.1 | 0.0 | 0.0 |
| Deferred tax expense/(benefit), domestic | 7.7 | 1.3 | (201.1) |
| Total income tax expense, domestic | $ 9.8 | 1.3 | (201.1) |
| Foreign: | |||
| Bermuda tax rate | 15.00% | ||
| United States: | |||
| Foreign: | |||
| Income/(loss) before tax | $ 293.6 | 269.0 | 236.3 |
| Current tax expense | 57.4 | 62.7 | 52.4 |
| Deferred tax expense/(benefit) | 5.3 | (4.4) | 3.0 |
| Total income tax expense | 62.7 | 58.3 | 55.4 |
| United Kingdom: | |||
| Foreign: | |||
| Income/(loss) before tax | (21.4) | 106.9 | 0.7 |
| Current tax expense | 15.6 | 3.9 | 5.3 |
| Deferred tax expense/(benefit) | 9.8 | (85.3) | 0.1 |
| Total income tax expense | 25.4 | (81.4) | 5.4 |
| Other foreign jurisdictions | |||
| Foreign: | |||
| Income/(loss) before tax | 62.2 | 2.9 | 16.8 |
| Current tax expense | 6.5 | 0.0 | 7.9 |
| Deferred tax expense/(benefit) | (0.5) | (0.2) | 0.3 |
| Total income tax expense | $ 6.0 | $ (0.2) | $ 8.2 |
Income Taxes - New Income Tax Reconciliation (Details) - USD ($) $ in Thousands |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Amount | |||
| Income tax benefit at statutory tax rate | $ 66,600 | $ 0 | $ 0 |
| Prior year adjustments | (5,900) | 6,900 | |
| Statutory tax rate differential | 88,100 | 56,300 | |
| Effective Income Tax Rate Reconciliation, Other Adjustments, Amount | (900) | (300) | |
| Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | (106,600) | 4,000 | |
| Effect of changes in tax laws or rates enacted in the period | (10,200) | ||
| Tax credits | (800) | ||
| Nontaxable or nondeductible items | 3,500 | ||
| Other adjustments - prior year adjustments | $ (5,700) | ||
| Other adjustments - prior year adjustments percent | (1.30%) | ||
| Total tax expense/(benefit) | $ 103,900 | $ (22,000) | $ (132,100) |
| Percentage | |||
| Income tax benefit at statutory tax rate | 15.00% | ||
| Effect of changes in tax laws or rates enacted in the period | (2.30%) | ||
| Tax credits | (0.20%) | ||
| Nontaxable or nondeductible items | 0.80% | ||
| Effective tax rate | 23.40% | ||
| Bermuda | |||
| Percentage | |||
| Effective tax rate | 15.00% | ||
| United Kingdom: | |||
| Amount | |||
| Prior year adjustments | $ 13,700 | ||
| Prior year adjustments | 3.10% | ||
| Other adjustments | $ 10,200 | ||
| Statutory tax rate differential | 16,800 | ||
| Effective Income Tax Rate Reconciliation, Other Adjustments, Amount | 500 | ||
| Tax credits | $ (10,300) | ||
| Percentage | |||
| Statutory tax rate differential | 3.80% | ||
| Other adjustments | 2.30% | ||
| Tax credits | (2.30%) | ||
| Prior year adjustments | 0.10% | ||
| United States: | |||
| Amount | |||
| Statutory tax rate differential | $ 27,400 | ||
| Effective Income Tax Rate Reconciliation, Other Adjustments, Amount | 1,300 | ||
| Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | $ (5,700) | ||
| Percentage | |||
| Statutory tax rate differential | 6.20% | ||
| Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent | (1.30%) | ||
| Prior year adjustments | 0.30% | ||
| Switzerland: | |||
| Amount | |||
| Statutory tax rate differential | $ 4,400 | ||
| Effective Income Tax Rate Reconciliation, Other Adjustments, Amount | (1,400) | ||
| Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | $ (6,000) | ||
| Percentage | |||
| Statutory tax rate differential | 1.00% | ||
| Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Percent | (1.40%) | ||
| Prior year adjustments | (0.30%) | ||
| Other foreign jurisdictions | |||
| Amount | |||
| Statutory tax rate differential | $ (400) | ||
| Percentage | |||
| Statutory tax rate differential | (0.10%) | ||
Income Taxes - Income Tax Reconciliation (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Income Tax Disclosure [Abstract] | |||
| Income tax benefit at statutory tax rate | $ 66.6 | $ 0.0 | $ 0.0 |
| Statutory tax rate differential | 88.1 | 56.3 | |
| Base erosion and anti-abuse tax (BEAT) expense | 0.2 | 0.9 | |
| Prior year adjustments | (5.9) | 6.9 | |
| Introduction of Bermuda corporate income tax | 2.2 | (201.1) | |
| Effective Income Tax Rate Reconciliation, Change in Deferred Tax Assets Valuation Allowance, Amount | (106.6) | 4.0 | |
| Foreign exchange | 0.6 | (1.3) | |
| Non-deductible expenses | 0.3 | 2.5 | |
| Effective Income Tax Rate Reconciliation, Other Adjustments, Amount | (0.9) | (0.3) | |
| Total income tax expense | $ 103.9 | $ (22.0) | $ (132.1) |
Income Taxes - Tax Effects of Deferred Tax Assets and Deferred Tax Liabilities (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Income Tax Disclosure [Abstract] | ||
| Share-based payments | $ 0.8 | $ 0.0 |
| Operating loss carryforwards | 150.7 | 181.1 |
| Capital loss carryforwards | 17.9 | 17.8 |
| Insurance reserves: Losses and loss adjustment expenses | 99.1 | 111.2 |
| Unrealized losses on investments | 0.0 | 7.4 |
| Accrued expenses | 11.0 | 11.3 |
| Foreign tax credit carryforwards | 20.2 | 22.0 |
| Unearned premiums | 34.9 | 34.5 |
| Intangible assets | 74.0 | 82.7 |
| Office properties and equipment | 15.4 | 14.7 |
| Operating lease liability | 14.3 | 15.0 |
| Other temporary differences | 4.2 | 8.1 |
| Total deferred tax assets | 442.5 | 505.8 |
| Less valuation allowance | (49.2) | (64.0) |
| Deferred tax assets, net of valuation allowance | 393.3 | 441.8 |
| Unrealized gains on investments | 1.4 | 0.0 |
| Intangible assets | (0.6) | (0.2) |
| Deferred acquisition costs | (34.0) | (31.0) |
| Operating lease assets | (9.9) | (10.4) |
| Deferred Tax Liabilities, GAAP differences | (3.8) | 0.0 |
| Other temporary differences | (5.1) | (3.4) |
| Total deferred tax (liabilities) | (54.8) | (45.0) |
| Deferred tax assets, net | $ 338.5 | $ 396.8 |
Summary of Income Tax Payments (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Summary of Income Tax Payments [Line Items] | |||
| Income taxes paid | $ 71.8 | $ 69.0 | $ 60.9 |
| Other foreign jurisdictions | |||
| Summary of Income Tax Payments [Line Items] | |||
| Income Taxes Paid | 1.3 | ||
| Bermuda | |||
| Summary of Income Tax Payments [Line Items] | |||
| Income Taxes Paid | 3.0 | ||
| Internal Revenue Service (IRS) | |||
| Summary of Income Tax Payments [Line Items] | |||
| Income Taxes Paid | 55.0 | ||
| U.K. | |||
| Summary of Income Tax Payments [Line Items] | |||
| Income Taxes Paid | $ 12.5 | ||
Capital Structure - Summary of Authorized and Issued Share Capital (Details) - USD ($) |
12 Months Ended | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jan. 01, 2025 |
Nov. 29, 2024 |
Nov. 26, 2024 |
Aug. 13, 2019 |
Sep. 20, 2016 |
May 02, 2013 |
Dec. 31, 2025 |
Dec. 31, 2024 |
May 01, 2025 |
Jan. 02, 2025 |
|||
| Authorized share capital: | ||||||||||||
| Number of ordinary shares | 750,000,000 | 750,000,000 | ||||||||||
| Number of preference shares | 150,000,000 | 150,000,000 | ||||||||||
| Ordinary Shares, authorized | $ 750,000 | $ 750,000 | ||||||||||
| Preference Shares, authorized | 227,000 | 227,000 | ||||||||||
| Total authorized share capital | $ 977,000 | $ 977,000 | ||||||||||
| Issued share capital: | ||||||||||||
| Ordinary shares, issued | 91,838,366 | 90,833,333 | ||||||||||
| Ordinary shares, value | [1] | $ 92,000 | $ 91,000 | |||||||||
| Total issued share capital | $ 107,000 | $ 123,000 | ||||||||||
| Ordinary shares, par value | $ 0.001 | $ 0.001 | $ 0.001 | |||||||||
| Preference shares, par value | $ 0.0015144558 | |||||||||||
| 5.950% Preference Shares (AHL PRC) | ||||||||||||
| Issued share capital: | ||||||||||||
| Preference shares, issued | 11,000,000,000,000 | 0 | 11,000,000 | |||||||||
| Preference shares, value | $ 0 | $ 17,000 | ||||||||||
| Preferred Stock, Dividend Rate, Percentage | 5.95% | 5.95% | 5.95% | 5.95% | 5.95% | |||||||
| Preference shares, par value | $ 0.0015144558 | $ 0.0015144558 | ||||||||||
| Redemption price per share | $ 25 | $ 25 | $ 25 | $ 25 | ||||||||
| 5.625% Preference Shares (AHL PRD) | ||||||||||||
| Issued share capital: | ||||||||||||
| Preference shares, issued | 10,000,000 | 10,000,000 | 10,000,000 | |||||||||
| Preference shares, value | $ 15,000 | $ 15,000 | ||||||||||
| Preferred Stock, Dividend Rate, Percentage | 5.625% | 5.625% | ||||||||||
| Preference shares, par value | $ 0.0015144558 | $ 0.0015144558 | ||||||||||
| Redemption price per share | $ 25 | $ 25 | $ 25 | |||||||||
| 5.625% Preference Shares, rep by Dep Shares (AHL PRE) | ||||||||||||
| Issued share capital: | ||||||||||||
| Preference shares, issued | 10,000,000 | 10,000,000 | 10,000,000 | |||||||||
| Preference shares, value | $ 0 | $ 0 | ||||||||||
| Preferred Stock, Dividend Rate, Percentage | 5.625% | 5.625% | ||||||||||
| Preference shares, par value | $ 0.0015144558 | $ 0.0015144558 | ||||||||||
| Redemption price per share | $ 25 | $ 25,000 | $ 25,000 | |||||||||
| 7.00% Preference Shares, rep by Dep Shares (AHL PRF) | ||||||||||||
| Issued share capital: | ||||||||||||
| Preference shares, issued | 9,000,000 | 9,000,000 | 9,000,000 | |||||||||
| Preference shares, value | $ 0 | $ 0 | ||||||||||
| Preferred Stock, Dividend Rate, Percentage | 7.00% | 7.00% | 7.00% | |||||||||
| Preference shares, par value | $ 0.0015144558 | $ 0.0015144558 | ||||||||||
| Redemption price per share | $ 25 | $ 25,000 | $ 25,000 | |||||||||
| ||||||||||||
Capital Structure - Summary of Authorized and Issued Share Capital (Details)(Phantom) - $ / shares |
Dec. 31, 2025 |
May 01, 2025 |
Jan. 02, 2025 |
Dec. 31, 2024 |
Aug. 13, 2019 |
Sep. 20, 2016 |
May 02, 2013 |
|---|---|---|---|---|---|---|---|
| Class of Stock [Line Items] | |||||||
| Previous ordinary shares, par value | $ 0.01 | ||||||
| Ordinary shares, par value | 0.001 | $ 0.001 | $ 0.001 | ||||
| Preference shares, par value | 0.0015144558 | ||||||
| 5.950% Preference Shares (AHL PRC) | |||||||
| Class of Stock [Line Items] | |||||||
| Preference shares, par value | 0.0015144558 | 0.0015144558 | |||||
| Redemption price per share | 25 | $ 25 | 25 | $ 25 | |||
| 5.625% Preference Shares (AHL PRD) | |||||||
| Class of Stock [Line Items] | |||||||
| Preference shares, par value | 0.0015144558 | 0.0015144558 | |||||
| Redemption price per share | 25 | 25 | $ 25 | ||||
| 5.625% Preference Shares, rep by Dep Shares (AHL PRE) | |||||||
| Class of Stock [Line Items] | |||||||
| Preference shares, par value | 0.0015144558 | 0.0015144558 | |||||
| Redemption price per share | $ 25,000 | $ 25,000 | $ 25 | ||||
| Depositary share interest of 1/1000th in each 5.625% | 0.001% |
Capital Structure - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands |
12 Months Ended | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jan. 01, 2025 |
Nov. 29, 2024 |
Nov. 26, 2024 |
Aug. 13, 2019 |
Sep. 20, 2016 |
May 02, 2013 |
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
May 01, 2025 |
Jan. 02, 2025 |
|||
| Class of Stock [Line Items] | |||||||||||||
| Additional paid in capital | [1] | $ 803,400 | $ 761,700 | ||||||||||
| Aggregate Liquidation Preference Shares | 725,000 | 1,000,000 | $ 775,000 | ||||||||||
| Preferred Stock Issuance Cost | 25,100 | 29,500 | $ 21,500 | ||||||||||
| Authorized share capital | $ 977 | $ 977 | |||||||||||
| Number of ordinary shares | 750,000,000 | 750,000,000 | |||||||||||
| Ordinary shares, par value | $ 0.001 | $ 0.001 | $ 0.001 | ||||||||||
| Number of preference shares | 150,000,000 | 150,000,000 | |||||||||||
| Preference shares, par value | $ 0.0015144558 | ||||||||||||
| Ordinary shares, issued | 91,838,366 | 90,833,333 | |||||||||||
| Preference shares liquidation preference, value | $ 225,000 | $ 250,000 | |||||||||||
| 2025 Equity and Incentive Plan | |||||||||||||
| Class of Stock [Line Items] | |||||||||||||
| Shares Issued, Shares, Share-Based Payment Arrangement, before Forfeiture | 1,005,033 | ||||||||||||
| 5.950% Preference Shares (AHL PRC) | |||||||||||||
| Class of Stock [Line Items] | |||||||||||||
| Preferred Stock Issuance Cost | $ 4,400 | ||||||||||||
| Preference shares, par value | $ 0.0015144558 | $ 0.0015144558 | |||||||||||
| Preference shares, issued | 11,000,000,000,000 | 0 | 11,000,000 | ||||||||||
| Preference shares, rate | 5.95% | 5.95% | 5.95% | 5.95% | 5.95% | ||||||||
| Redemption price per share | $ 25 | $ 25 | $ 25 | $ 25 | |||||||||
| Proceeds or share issuance | $ 270,600 | ||||||||||||
| Preference shares liquidation preference, value | $ 275,000 | $ 275,000 | |||||||||||
| 5.625% Preference Shares (AHL PRD) | |||||||||||||
| Class of Stock [Line Items] | |||||||||||||
| Preferred Stock Issuance Cost | $ 8,700 | ||||||||||||
| Preference shares, par value | $ 0.0015144558 | $ 0.0015144558 | |||||||||||
| Preference shares, issued | 10,000,000 | 10,000,000 | 10,000,000 | ||||||||||
| Preference shares, rate | 5.625% | 5.625% | |||||||||||
| Redemption price per share | $ 25 | $ 25 | $ 25 | ||||||||||
| Proceeds or share issuance | $ 241,300 | ||||||||||||
| Preference shares liquidation preference, value | $ 250,000 | ||||||||||||
| 5.625% Preference Shares, rep by Dep Shares (AHL PRE) | |||||||||||||
| Class of Stock [Line Items] | |||||||||||||
| Preferred Stock Issuance Cost | $ 8,400 | ||||||||||||
| Preference shares, par value | $ 0.0015144558 | $ 0.0015144558 | |||||||||||
| Preference shares, issued | 10,000,000 | 10,000,000 | 10,000,000 | ||||||||||
| Preference shares, rate | 5.625% | 5.625% | |||||||||||
| Redemption price per share | $ 25 | $ 25,000 | $ 25,000 | ||||||||||
| 7.00% Preference Shares, rep by Dep Shares (AHL PRF) | |||||||||||||
| Class of Stock [Line Items] | |||||||||||||
| Preferred Stock Issuance Cost | $ 8,000 | ||||||||||||
| Preference shares, par value | $ 0.0015144558 | $ 0.0015144558 | |||||||||||
| Preference shares, issued | 9,000,000 | 9,000,000 | 9,000,000 | ||||||||||
| Preference shares, rate | 7.00% | 7.00% | 7.00% | ||||||||||
| Redemption price per share | $ 25 | $ 25,000 | $ 25,000 | ||||||||||
| Proceeds or share issuance | $ 217,000 | ||||||||||||
| Additional paid-in capital (1) | Preference shares | |||||||||||||
| Class of Stock [Line Items] | |||||||||||||
| Proceeds or share issuance | $ 241,600 | ||||||||||||
| |||||||||||||
Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Millions |
12 Months Ended | |||||
|---|---|---|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|||
| Earnings Per Share [Abstract] | ||||||
| Net income | $ 340.2 | $ 486.1 | $ 534.7 | |||
| Less: Preference share dividends | (45.5) | (54.9) | (49.9) | |||
| Less: Preference share redemption costs | (4.4) | 0.0 | $ 0.0 | |||
| Net income available to Aspen Insurance Holdings Limited’s ordinary shareholders | $ 290.3 | $ 431.2 | $ 484.8 | |||
| Basic weighted average ordinary shares outstanding | 91,375,776 | 90,833,333 | 90,833,333 | |||
| Weighted average effect of dilutive restricted share units | 158,644 | 0 | 0 | |||
| Diluted weighted average ordinary shares outstanding | 91,534,420 | 90,833,333 | 90,833,333 | |||
| Basic earnings per ordinary share (5) | [1] | $ 3.18 | $ 4.75 | $ 5.34 | ||
| Diluted earnings per ordinary share (5) | [1] | $ 3.17 | $ 4.75 | $ 5.34 | ||
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 616,762,000,000 | 0 | 0 | |||
| ||||||
Statutory Requirements and Dividends Restrictions - Summary of Statutory Requirements and Dividends Restrictions (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| United States: | ||
| Statutory Requirements and Dividend Restrictions [Line Items] | ||
| Required statutory capital and surplus | $ 579.3 | $ 565.7 |
| Actual statutory capital and surplus | 1,202.3 | 1,164.9 |
| Bermuda | ||
| Statutory Requirements and Dividend Restrictions [Line Items] | ||
| Required statutory capital and surplus | 595.3 | 579.3 |
| Actual statutory capital and surplus | 1,550.0 | 1,761.3 |
| United Kingdom: | ||
| Statutory Requirements and Dividend Restrictions [Line Items] | ||
| Required statutory capital and surplus | 270.4 | 277.3 |
| Actual statutory capital and surplus | $ 611.7 | $ 651.0 |
Statutory Requirements and Dividends Restrictions - Additional Information (Details) $ in Millions |
12 Months Ended |
|---|---|
|
Dec. 31, 2025
USD ($)
| |
| Statutory Accounting Practices [Line Items] | |
| Capital contributions reserves | $ 879.9 |
| Aspen UK | |
| Statutory Accounting Practices [Line Items] | |
| Dividend payment made without regulatory approval | 727.0 |
| AUL | |
| Statutory Accounting Practices [Line Items] | |
| Dividend payment made without regulatory approval | 17.0 |
| Syndicate to maintain funds at Lloyd | 1,194.7 |
| Total funds held by AUL | 1,125.9 |
| Bermuda | |
| Statutory Accounting Practices [Line Items] | |
| Dividend payment made without regulatory approval | $ 312.9 |
| Statutory capital and surplus, percent | 25.00% |
| Statutory capital and surplus, percent reduction requiring approval | 25.00% |
| Percent warning level of amount of enhanced capital required from statutory capital and surplus | 120.00% |
| Bermuda | AUL | |
| Statutory Accounting Practices [Line Items] | |
| Total funds held by AUL | $ 450.4 |
Dividends - Summary of Declared Dividends (Details) - USD ($) |
3 Months Ended | 12 Months Ended | |||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2025 |
Dec. 01, 2025 |
Oct. 01, 2025 |
Sep. 02, 2025 |
Jul. 01, 2025 |
Jun. 02, 2025 |
Apr. 01, 2025 |
Feb. 28, 2025 |
Jan. 01, 2025 |
Nov. 29, 2024 |
Nov. 26, 2024 |
Aug. 13, 2019 |
Sep. 20, 2016 |
May 02, 2013 |
Dec. 31, 2025 |
Sep. 30, 2025 |
Jun. 30, 2025 |
Mar. 31, 2025 |
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Dividends Payable [Line Items] | |||||||||||||||||||||
| Dividends | $ 10,969,100 | $ 10,969,100 | $ 10,969,100 | $ 12,544,100 | $ 45,451,400 | ||||||||||||||||
| Payments of Ordinary Dividends, Common Stock | $ 0 | $ 195,000,000.0 | $ 40,300,000 | ||||||||||||||||||
| S2024Q1 Dividends | |||||||||||||||||||||
| Dividends Payable [Line Items] | |||||||||||||||||||||
| Dividends Payable, Date Declared | Feb. 28, 2025 | ||||||||||||||||||||
| Payable Date | Apr. 01, 2025 | ||||||||||||||||||||
| S2024Q2 Dividends | |||||||||||||||||||||
| Dividends Payable [Line Items] | |||||||||||||||||||||
| Dividends Payable, Date Declared | Jun. 02, 2025 | ||||||||||||||||||||
| Payable Date | Jul. 01, 2025 | ||||||||||||||||||||
| S2024Q3 Dividends | |||||||||||||||||||||
| Dividends Payable [Line Items] | |||||||||||||||||||||
| Dividends Payable, Date Declared | Sep. 02, 2025 | ||||||||||||||||||||
| Payable Date | Oct. 01, 2025 | ||||||||||||||||||||
| S2024Q4 Dividends | |||||||||||||||||||||
| Dividends Payable [Line Items] | |||||||||||||||||||||
| Dividends Payable, Date Declared | Dec. 01, 2025 | ||||||||||||||||||||
| Payable Date | Dec. 31, 2025 | ||||||||||||||||||||
| 5.950% Preference Shares (AHL PRC) | |||||||||||||||||||||
| Dividends Payable [Line Items] | |||||||||||||||||||||
| Preferred Stock, Dividend Rate, Percentage | 5.95% | 5.95% | 5.95% | 5.95% | 5.95% | ||||||||||||||||
| 5.625% Preference Shares (AHL PRD) | |||||||||||||||||||||
| Dividends Payable [Line Items] | |||||||||||||||||||||
| Dividends | 3,516,000 | 3,516,000 | 3,516,000 | 3,516,000 | $ 14,064,000 | ||||||||||||||||
| Preferred Stock, Dividend Rate, Per-Dollar-Amount | $ 1.41 | ||||||||||||||||||||
| Preferred Stock, Dividend Rate, Percentage | 5.625% | 5.625% | |||||||||||||||||||
| 5.625% Preference Shares, rep by Dep Shares (AHL PRE) | |||||||||||||||||||||
| Dividends Payable [Line Items] | |||||||||||||||||||||
| Dividends | $ 3,515,600 | 3,515,600 | 3,515,600 | 3,515,600 | $ 14,062,400 | ||||||||||||||||
| Depositary share dividend | $ 351,600 | $ 351,600 | $ 351,600 | ||||||||||||||||||
| Depositary share interest of 1/1000th in each 5.625% | 0.001% | ||||||||||||||||||||
| Preferred Stock, Dividend Rate, Per-Dollar-Amount | $ 1,406.24 | ||||||||||||||||||||
| Preferred Stock, Dividend Rate, Percentage | 5.625% | 5.625% | |||||||||||||||||||
| 7.00% Preference Shares, rep by Dep Shares (AHL PRF) | |||||||||||||||||||||
| Dividends Payable [Line Items] | |||||||||||||||||||||
| Dividends | $ 3,937,500 | $ 3,937,500 | $ 3,937,500 | $ 5,512,500 | $ 17,325,000 | ||||||||||||||||
| Depositary share dividend | $ 437,500 | $ 437,500 | $ 437,500 | ||||||||||||||||||
| Depositary share interest of 1/1000th in each 5.625% | 0.001% | ||||||||||||||||||||
| Preferred Stock, Dividend Rate, Per-Dollar-Amount | $ 1,925,000,000 | ||||||||||||||||||||
| Preferred Stock, Dividend Rate, Percentage | 7.00% | 7.00% | 7.00% | ||||||||||||||||||
Retirement Plans (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Retirement Benefits [Abstract] | |||
| Total contributions by the Company to the retirement plan | $ 17.0 | $ 16.9 | $ 14.5 |
Share-Based Payments - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions |
1 Months Ended | 12 Months Ended | |||
|---|---|---|---|---|---|
May 30, 2025 |
Dec. 31, 2025 |
Dec. 31, 2024 |
|||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
| Share-based payment and LTIP expense | $ 6.9 | $ 14.6 | |||
| Total stock compensation expense | 61.5 | ||||
| Accrued expenses and other payables | [1] | $ 317.1 | 237.2 | ||
| Grant date fair value (in USD per share) | $ 30 | ||||
| Nonvested award, cost not yet recognized, period for recognition | 2 years 2 months 12 days | ||||
| 2025 Equity and Incentive Plan | |||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
| Total stock compensation expense | $ 39.2 | ||||
| Number of shares authorized | 3,633,333 | ||||
| Number of shares available for grant, as replacement awards | 1,306,139 | ||||
| Shares withheld to satisfy tax withholding | (301,106) | ||||
| Shares Issued, Shares, Share-Based Payment Arrangement, before Forfeiture | 1,005,033 | ||||
| 2025 Equity and Incentive Plan- Incentive Share Options | |||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
| Number of options granted | 626,727 | ||||
| Retention shares or units | |||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
| Total stock compensation expense | $ 19.1 | 4.8 | |||
| Restricted Stock Units (RSUs) | 2025 Equity and Incentive Plan - All Employee Awards | |||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
| Granted to employees | 158,997 | ||||
| Restricted Stock Units (RSUs) | 2025 Equity and Incentive Plan - Senior Employees | |||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
| Grant date fair value (in USD per share) | $ 30 | ||||
| Number of RSUs, nonvested | 623,953 | ||||
| Performance Shares | |||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
| Total stock compensation expense | 2.6 | 9.8 | |||
| Long-term incentive plan | |||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
| Accrued expenses and other payables | 17.9 | $ 20.0 | |||
| Retention Units | |||||
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
| Total stock compensation expense | $ 4.3 | ||||
| |||||
Share-Based Payments - Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award (Details) - 2025 Equity and Incentive Plan- Incentive Share Options $ / shares in Millions |
12 Months Ended |
|---|---|
|
Dec. 31, 2025
$ / shares
| |
| Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
| Fair value per share option | $ 12.0 |
| Risk-free interest rate | 4.05% |
| Expected term | 6 years 6 months |
| Expected volatility rate | 30.00% |
Intangible Assets - Information (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Finite-Lived Intangible Assets [Line Items] | ||
| Intangible assets and goodwill | $ 19.9 | $ 19.9 |
| Goodwill | 2.1 | |
| Aspen trademark | ||
| Finite-Lived Intangible Assets [Line Items] | ||
| Value of the asset | 1.1 | |
| Insurance Licenses | ||
| Finite-Lived Intangible Assets [Line Items] | ||
| Value of the asset | $ 16.7 |
Operating Leases - Schedule of Operating Lease Costs (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Leases [Abstract] | |||
| Amortization of right-of-use operating lease assets | $ 10.1 | $ 9.9 | $ 10.7 |
| Interest on operating lease liability | 3.6 | 4.1 | 4.5 |
| Operating Lease, Expense | $ 13.7 | $ 14.0 | $ 15.2 |
Operating Leases - Schedule of Operating Lease Liability, Maturity (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Leases [Abstract] | ||
| Liability, Payments, Due prior year | $ 0.0 | $ 15.4 |
| Liability, Payments, Next twelve months | 15.0 | 14.6 |
| Liability, Payments, Due year two | 13.5 | 13.2 |
| Liability, Payments, Due year three | 13.3 | 13.0 |
| Liability, Payments, Due year four | 11.0 | 10.9 |
| Liability, Payments, Due year five | 9.3 | 9.3 |
| Liability, Payments, Due after year five | 12.2 | 12.2 |
| Total minimum lease payments | 74.3 | 88.6 |
| Less imputed interest | (9.6) | (13.0) |
| Operating lease liabilities | $ 64.7 | $ 75.6 |
Operating Leases - Schedule of Operating Leases Cash Flows (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Leases [Abstract] | |||
| Operating lease liabilities | $ (15.7) | $ (15.9) | $ (15.5) |
| Asset obtained in exchange for operating lease liability | 0.0 | 2.1 | 0.2 |
| Reduction of right-of use assets resulting from reductions to lease obligations | $ 0.0 | $ 0.3 | $ 0.1 |
| Operating lease, weighted average remaining lease term (years( | 5 years 7 months 6 days | 6 years 4 months 24 days | 7 years 3 months 18 days |
| Operating lease, weighted average discount rate (percent) | 5.10% | 5.10% | 5.00% |
Operating Leases - Additional Information (Details) - USD ($) |
12 Months Ended | |
|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
|
| Leases [Abstract] | ||
| Right-of-use operating lease assets | $ 43,400,000 | $ 53,500,000 |
| Operating lease liabilities | 64,700,000 | 75,600,000 |
| Impairment of lease assets | $ 0 | $ 0 |
Related Party Transactions - Narrative (Details) $ in Millions |
12 Months Ended | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2025
USD ($)
|
Dec. 31, 2024
USD ($)
|
Dec. 31, 2023
USD ($)
|
Dec. 31, 2022
USD ($)
|
|||||||||||||||
| Related Party Transaction [Line Items] | ||||||||||||||||||
| Plus component of annual investment management fee | 0.25 | |||||||||||||||||
| Annual fee cap | 0.15 | |||||||||||||||||
| Privately-held Investments | [1] | $ 121.8 | $ 286.8 | |||||||||||||||
| Other Investments | [2] | 279.6 | 267.2 | |||||||||||||||
| Net Investment Income | 326.3 | [3] | 318.0 | $ 275.7 | ||||||||||||||
| Accrued expenses and other payables | [4] | 317.1 | 237.2 | |||||||||||||||
| Gain (loss) on investments | 61.4 | 52.6 | 75.9 | |||||||||||||||
| Net premiums earned | [5] | 2,831.9 | 2,889.7 | 2,614.5 | ||||||||||||||
| Losses and loss adjustment expenses | [5] | 1,546.7 | 1,717.8 | 1,553.0 | ||||||||||||||
| Premiums Receivable, Net | [6] | 1,700.8 | 1,617.0 | |||||||||||||||
| Liability for Claims and Claims Adjustment Expense | 8,725.0 | [6] | 8,122.6 | [6] | 7,810.6 | $ 7,710.9 | ||||||||||||
| Unearned Premiums | [6] | 2,725.8 | 2,645.8 | |||||||||||||||
| Asset Management Arrangement | ||||||||||||||||||
| Related Party Transaction [Line Items] | ||||||||||||||||||
| Net Investment Income | 6.4 | 9.2 | 9.4 | |||||||||||||||
| Accrued expenses and other payables | 2.0 | 4.0 | ||||||||||||||||
| Apollo real estate fund | ||||||||||||||||||
| Related Party Transaction [Line Items] | ||||||||||||||||||
| Gain (loss) on investments | 2.1 | 0.4 | (0.4) | |||||||||||||||
| Apollo real estate fund | Fair Value, Recurring [Member] | ||||||||||||||||||
| Related Party Transaction [Line Items] | ||||||||||||||||||
| Other Investments | 81.4 | |||||||||||||||||
| Beneficial owner | ||||||||||||||||||
| Related Party Transaction [Line Items] | ||||||||||||||||||
| Accounts Payable, Current | 0.0 | 1.2 | ||||||||||||||||
| Funds managed by Apollo | Fair Value, Recurring [Member] | ||||||||||||||||||
| Related Party Transaction [Line Items] | ||||||||||||||||||
| Other Investments | 81.4 | 78.6 | ||||||||||||||||
| Apollo Notes, SPV | ||||||||||||||||||
| Related Party Transaction [Line Items] | ||||||||||||||||||
| Privately-held investment, losses incurred | (3.4) | (5.5) | 5.5 | |||||||||||||||
| Apollo Notes, SPV | Fair Value, Recurring [Member] | ||||||||||||||||||
| Related Party Transaction [Line Items] | ||||||||||||||||||
| Privately-held Investments | 0.0 | 66.6 | ||||||||||||||||
| CLOs | ||||||||||||||||||
| Related Party Transaction [Line Items] | ||||||||||||||||||
| Net Investment Income | 8.3 | 11.3 | 17.4 | |||||||||||||||
| CLOs | Fair Value, Recurring [Member] | ||||||||||||||||||
| Related Party Transaction [Line Items] | ||||||||||||||||||
| Debt Securities, Trading | 88.8 | 88.9 | ||||||||||||||||
| Middle Market Term Loans managed by a subsidiary of Apollo | ||||||||||||||||||
| Related Party Transaction [Line Items] | ||||||||||||||||||
| Net Investment Income | (1.9) | 0.5 | $ 5.8 | |||||||||||||||
| Middle Market Term Loans managed by a subsidiary of Apollo | Fair Value, Recurring [Member] | ||||||||||||||||||
| Related Party Transaction [Line Items] | ||||||||||||||||||
| Debt Securities, Trading | 4.8 | $ 7.0 | ||||||||||||||||
| Apollo and Subsidiaries | ||||||||||||||||||
| Related Party Transaction [Line Items] | ||||||||||||||||||
| Net premiums earned | 5.9 | |||||||||||||||||
| Losses and loss adjustment expenses | 3.7 | |||||||||||||||||
| Premiums Receivable, Net | 1.6 | |||||||||||||||||
| Liability for Claims and Claims Adjustment Expense | 3.7 | |||||||||||||||||
| Unearned Premiums | $ 1.2 | |||||||||||||||||
| Maximum | ||||||||||||||||||
| Related Party Transaction [Line Items] | ||||||||||||||||||
| Percentage of consolidated group's net income due to Apollo Management | 1.00% | |||||||||||||||||
| Dollar amount option to percentage fee | $ 5.0 | |||||||||||||||||
| ||||||||||||||||||
Commitments and Contingencies - Schedule of Company's Restricted Assets (Details) - USD ($) $ in Millions |
12 Months Ended | |||
|---|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
|||
| Commitments and Contingencies Disclosure [Abstract] | ||||
| Affiliated transactions | $ 227.3 | $ 433.4 | ||
| Third party | 2,470.3 | 2,713.5 | ||
| Letters of credit / guarantees (1) | 101.8 | 153.2 | ||
| Total restricted assets (excluding illiquid assets) | 2,799.4 | 3,300.1 | ||
| Other Investments | [1] | 279.6 | 267.2 | |
| Total restricted assets and illiquid assets | $ 3,079.0 | $ 3,567.3 | ||
| Total as percent of invested assets | 37.10% | 46.40% | ||
| ||||
Commitments and Contingencies - Additional Information (Details) £ in Millions, SFr in Millions, $ in Millions, $ in Millions, $ in Millions, $ in Millions |
12 Months Ended | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2025
USD ($)
Investment
|
Dec. 31, 2024
USD ($)
Investment
|
Dec. 31, 2023
USD ($)
|
Dec. 31, 2025
GBP (£)
Investment
|
Dec. 31, 2025
CAD ($)
Investment
|
Dec. 31, 2025
AUD ($)
Investment
|
Dec. 31, 2025
CHF (SFr)
Investment
|
Dec. 31, 2025
SGD ($)
Investment
|
Dec. 31, 2024
GBP (£)
Investment
|
Dec. 31, 2024
CAD ($)
Investment
|
Dec. 31, 2024
AUD ($)
Investment
|
Dec. 31, 2024
CHF (SFr)
Investment
|
Dec. 31, 2024
SGD ($)
Investment
|
Sep. 30, 2021
USD ($)
|
Dec. 20, 2017
USD ($)
|
|||
| Restricted Cash And Collateral [Line Items] | |||||||||||||||||
| Other investments (equity method) | [1] | $ 279.6 | $ 267.2 | ||||||||||||||
| Total as percent of invested assets | 37.10% | 46.40% | |||||||||||||||
| Investable assets held by the Company | $ 8,300.0 | $ 7,700.0 | |||||||||||||||
| Commitment to invest in private assets | 78.0 | 57.0 | $ 99.0 | ||||||||||||||
| Investable assets held by insurance regulators | $ 461.7 | 471.9 | |||||||||||||||
| Minimum capital required | £ | £ 0.4 | £ 0.4 | |||||||||||||||
| Percentage of reinsurance liabilities | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | |||||||||||
| Reinsurance liabilities | $ 497.6 | 648.8 | |||||||||||||||
| Regulatory deposits | 3.4 | 6.9 | |||||||||||||||
| Deposit with states | $ 7.1 | $ 6.5 | |||||||||||||||
| Number of investments | Investment | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | |||||
| Collect Premium Issue | Pending Litigation | |||||||||||||||||
| Restricted Cash And Collateral [Line Items] | |||||||||||||||||
| Loss Contingency, Damages Sought, Value | $ 150.0 | ||||||||||||||||
| Straddle Account Issue | Pending Litigation | |||||||||||||||||
| Restricted Cash And Collateral [Line Items] | |||||||||||||||||
| Loss Contingency, Damages Sought, Value | 50.0 | ||||||||||||||||
| Construction Defect Issue | Pending Litigation | |||||||||||||||||
| Restricted Cash And Collateral [Line Items] | |||||||||||||||||
| Loss Contingency, Damages Sought, Value | 100.0 | ||||||||||||||||
| U.S. Reinsurance Trust Fund | |||||||||||||||||
| Restricted Cash And Collateral [Line Items] | |||||||||||||||||
| Assets held-in-trust | 718.6 | $ 1,001.5 | |||||||||||||||
| Us Multi Beneficiary Trust Fund | |||||||||||||||||
| Restricted Cash And Collateral [Line Items] | |||||||||||||||||
| Assets held-in-trust | 243.8 | 334.0 | |||||||||||||||
| US Surplus Lines Trust Fund | |||||||||||||||||
| Restricted Cash And Collateral [Line Items] | |||||||||||||||||
| Assets held-in-trust | 155.2 | 150.2 | |||||||||||||||
| Canadian Trust Fund | |||||||||||||||||
| Restricted Cash And Collateral [Line Items] | |||||||||||||||||
| Assets held-in-trust | 176.7 | $ 242.3 | $ 219.8 | ||||||||||||||
| Australian Trust Fund | |||||||||||||||||
| Restricted Cash And Collateral [Line Items] | |||||||||||||||||
| Assets held-in-trust | 42.5 | $ 63.7 | $ 78.1 | ||||||||||||||
| Swiss Trust Fund | |||||||||||||||||
| Restricted Cash And Collateral [Line Items] | |||||||||||||||||
| Assets held-in-trust | 6.5 | SFr 5.1 | SFr 4.8 | ||||||||||||||
| Singapore Trust Fund | |||||||||||||||||
| Restricted Cash And Collateral [Line Items] | |||||||||||||||||
| Assets held-in-trust | 165.8 | $ 213.2 | $ 201.7 | ||||||||||||||
| US Mortgage Trusts | |||||||||||||||||
| Restricted Cash And Collateral [Line Items] | |||||||||||||||||
| Assets held-in-trust | $ 547.4 | 439.2 | |||||||||||||||
| Bermuda | |||||||||||||||||
| Restricted Cash And Collateral [Line Items] | |||||||||||||||||
| Percentage of reinsurance liabilities | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | |||||||||||
| Reinsurance liabilities | $ 151.3 | $ 182.3 | |||||||||||||||
| Bermuda | Us Multi Beneficiary Trust Fund | |||||||||||||||||
| Restricted Cash And Collateral [Line Items] | |||||||||||||||||
| Minimum trust fund | 20.0 | ||||||||||||||||
| Aspen UK | U.S. Reinsurance Trust Fund | |||||||||||||||||
| Restricted Cash And Collateral [Line Items] | |||||||||||||||||
| Minimum trust fund | $ 20.0 | ||||||||||||||||
| Limited Partner | |||||||||||||||||
| Restricted Cash And Collateral [Line Items] | |||||||||||||||||
| Restricted assets | $ 20.0 | $ 100.0 | |||||||||||||||
| |||||||||||||||||
Concentration of Credit Risk - Additional Information (Details) $ in Millions |
12 Months Ended | ||||
|---|---|---|---|---|---|
|
Dec. 31, 2025
USD ($)
|
Dec. 31, 2024
USD ($)
|
Dec. 31, 2023
USD ($)
|
|||
| Concentration Risk [Line Items] | |||||
| Amount recoverable from reinsurers | $ 4,281.9 | $ 4,172.0 | |||
| Concentration risk | 0.619 | 0.559 | |||
| Reinsurance Recoverable, Allowance for Credit Loss | $ 16.2 | $ 27.5 | $ 3.7 | ||
| Premiums Receivable, Net | [1] | 1,700.8 | 1,617.0 | ||
| Due for settlement | 257.7 | ||||
| Premium Receivable, Allowance for Credit Loss | $ 22.9 | $ 24.6 | |||
| Allowable holdings of a single issue or issuer, percentage | 2.00% | ||||
| Maximum | |||||
| Concentration Risk [Line Items] | |||||
| Gross written premiums, percentage | 17.20% | 15.40% | |||
| Minimum | |||||
| Concentration Risk [Line Items] | |||||
| Gross written premiums, percentage | 7.60% | 8.80% | |||
| Median | |||||
| Concentration Risk [Line Items] | |||||
| Gross written premiums, percentage | 15.10% | 11.50% | |||
| A- rating or higher | |||||
| Concentration Risk [Line Items] | |||||
| Concentration risk | 0.373 | 0.440 | |||
| A- rating or lower | |||||
| Concentration Risk [Line Items] | |||||
| Concentration risk | 0.008 | 0.001 | |||
| |||||
Reclassifications from Accumulated Other Comprehensive Income - Schedule of Accumulated Other Comprehensive Income Reclassification (Details) - USD ($) $ in Millions |
12 Months Ended | ||||
|---|---|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||
| Realized losses on sale of securities | $ (67.0) | $ (60.6) | $ (41.5) | ||
| Income from operations before income taxes | 444.1 | 464.1 | 402.6 | ||
| Income tax (expense)/benefit | (103.9) | 22.0 | 132.1 | ||
| General, administrative and corporate expenses | [1] | (671.4) | (533.1) | (503.6) | |
| Net income/(loss) | 340.2 | 486.1 | 534.7 | ||
| Net realized and unrealized foreign exchange gains/(losses) | 51.6 | (14.1) | 14.4 | ||
| Income tax expense, foreign currency translation adjustments | (1.6) | 1.4 | 0.0 | ||
| Reclassification out of Accumulated Other Comprehensive Income | |||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||
| Net income/(loss) | 33.8 | 48.6 | 25.5 | ||
| Available for sale securities | Reclassification out of Accumulated Other Comprehensive Income | |||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||
| Available for sale securities — gross realized (losses) | (25.8) | (3.2) | (2.2) | ||
| Realized losses on sale of securities | 68.8 | 62.6 | 42.4 | ||
| Income from operations before income taxes | 43.0 | 59.4 | 40.2 | ||
| Income tax (expense)/benefit | (8.7) | (11.5) | (6.6) | ||
| Net income/(loss) | 34.3 | 47.9 | 33.6 | ||
| Realized derivatives | Reclassification out of Accumulated Other Comprehensive Income | |||||
| Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items] | |||||
| Income tax (expense)/benefit | 0.2 | (0.2) | 0.0 | ||
| General, administrative and corporate expenses | (0.7) | 0.9 | (8.1) | ||
| Net income/(loss) | $ (0.5) | $ 0.7 | $ (8.1) | ||
| |||||
Credit Facilities and Long-Term Debt - Summary of Contractual Obligations Under Long-term Debts (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
|---|---|---|
| Line of Credit Facility [Line Items] | ||
| Short-Term Debt | $ 296.8 | $ 300.0 |
| Long-Term Debt, Maturity, Year Two and Three | 0.0 | |
| Long-Term Debt, Maturity, Year Four and Five | 300.0 | |
| Long-Term Debt, Maturity, after Year Five | 0.0 | |
| Total | 300.0 | |
| Short-Term Debt | ||
| Line of Credit Facility [Line Items] | ||
| Short-Term Debt | $ 0.0 |
Credit Facilities and Long-Term Debt - Additional Information (Details) - USD ($) |
12 Months Ended | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 01, 2021 |
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
Jun. 13, 2025 |
Oct. 31, 2024 |
Oct. 24, 2023 |
Feb. 07, 2023 |
Dec. 29, 2021 |
Nov. 05, 2021 |
Apr. 01, 2021 |
Nov. 03, 2020 |
Feb. 11, 2019 |
|
| Line of Credit Facility [Line Items] | |||||||||||||
| Credit facilities, unutilized capacity | $ 798,000,000 | ||||||||||||
| Revolving credit facility, credit agreement maximum limit | $ 300,000,000.0 | ||||||||||||
| Line of credit facility Increasable capacity | $ 100,000,000.0 | ||||||||||||
| Minimum consolidated tangible net worth under credit facility | $ 2,019,600,000 | ||||||||||||
| Percentage of consolidated net income | 25.00% | ||||||||||||
| Percentage of aggregate net cash proceeds from the issuance of capital stock | 25.00% | ||||||||||||
| Percentage of consolidated leverage ratio permitted | 35.00% | ||||||||||||
| Debt Instrument, Interest Rate, Stated Percentage | 5.75% | ||||||||||||
| AUL | Lloyd's | |||||||||||||
| Line of Credit Facility [Line Items] | |||||||||||||
| Letter of Credit to Support Funds at Lloyd's | $ 430,000,000.0 | ||||||||||||
| Funds at Lloyd's Facility Agreement | $ 25,000,000.0 | ||||||||||||
| Funds at Lloyd's Amended Facility Agreement | $ 60,000,000.0 | ||||||||||||
| AUL | Lloyd's | Maximum | |||||||||||||
| Line of Credit Facility [Line Items] | |||||||||||||
| Letter of Credit to Support Funds at Lloyd's | $ 235,000,000.0 | ||||||||||||
| Bermuda | Natixis | |||||||||||||
| Line of Credit Facility [Line Items] | |||||||||||||
| Revolving credit facility, credit agreement maximum limit | $ 100,000,000.0 | ||||||||||||
| Bermuda | HSBC Bank USA, National Association | |||||||||||||
| Line of Credit Facility [Line Items] | |||||||||||||
| Revolving credit facility, credit agreement maximum limit | $ 75,000,000.0 | ||||||||||||
| Aspen Specialty | Federal Home Loan Bank of Boston | |||||||||||||
| Line of Credit Facility [Line Items] | |||||||||||||
| Revolving credit facility, credit agreement maximum limit | $ 269,000,000 | ||||||||||||
| Percentage limit of pledged assets permitted to secure debt obligations | 15.00% | ||||||||||||
| AAIC | Federal Home Loan Bank of Boston | |||||||||||||
| Line of Credit Facility [Line Items] | |||||||||||||
| Revolving credit facility, credit agreement maximum limit | $ 230,000,000 | ||||||||||||
| Percentage limit of pledged assets permitted to secure debt obligations | 10.00% | ||||||||||||
| Letters of credit / guarantees | Aspen UK | Aspen European | |||||||||||||
| Line of Credit Facility [Line Items] | |||||||||||||
| Revolving credit facility, credit agreement maximum limit | $ 100,000,000.0 | $ 100,000,000.0 | |||||||||||
| Secured and unsecured financing facilities | |||||||||||||
| Line of Credit Facility [Line Items] | |||||||||||||
| Long-term line of credit | $ 1,400,000,000 | ||||||||||||
| Senior Notes | |||||||||||||
| Line of Credit Facility [Line Items] | |||||||||||||
| Loans issued | $ 300,000,000.0 | ||||||||||||
| Interest Expense | $ 17,400,000 | $ 20,500,000 | $ 15,600,000 | ||||||||||
Credit Losses (Details) - USD ($) $ in Millions |
12 Months Ended | |
|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
|
| Credit Loss [Abstract] | ||
| Available-for-sale Investments, Allowance for Credit Loss, Beginning Balance | $ 1.0 | $ 2.9 |
| Debt Securities, Available-for-Sale, Allowance for Credit Loss, Not Previously Recorded | 0.1 | 0.3 |
| Available-for-sale investment, allowance for credit loss, increase (decrease) | (0.4) | (0.9) |
| Debt Securities, Available-for-Sale, Allowance for Credit Loss, Securities Sold | (0.4) | (1.3) |
| Available-for-sale Investments, Allowance for Credit Loss, Ending Balance | 0.3 | 1.0 |
| Reinsurance Recoverable, Allowance for Credit Loss, Beginning Balance | 27.5 | 3.7 |
| Reinsurance Recoverable, Allowance for Credit Loss, Period Increase (Decrease) | (11.3) | 23.8 |
| Reinsurance Recoverable, Allowance for Credit Loss, Ending Balance | 16.2 | 27.5 |
| Accounts Receivable, Allowance for Credit Loss, Beginning Balance | 24.6 | 21.0 |
| Accounts Receivable, Allowance for Credit Loss, Period Increase (Decrease) | (1.7) | 3.6 |
| Accounts Receivable, Allowance for Credit Loss, Ending Balance | $ 22.9 | $ 24.6 |
Subsequent Events - Narrative (Details) - Subsequent Event $ in Millions |
Feb. 24, 2026
USD ($)
|
|---|---|
| Ordinary shares | |
| Subsequent Event [Line Items] | |
| Dividends payable | $ 300.0 |
| Aspen Insurance Holdings Limited | |
| Subsequent Event [Line Items] | |
| Advisory fees related to the Merger | $ 34.6 |
Subsequent Events- Schedule of Dividends Payable (Details) - USD ($) |
3 Months Ended | 12 Months Ended | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|
Mar. 04, 2026 |
Nov. 26, 2024 |
Aug. 13, 2019 |
Sep. 20, 2016 |
Dec. 31, 2025 |
Sep. 30, 2025 |
Jun. 30, 2025 |
Mar. 31, 2025 |
Dec. 31, 2025 |
Dec. 31, 2024 |
|
| Subsequent Event [Line Items] | ||||||||||
| Dividends | $ 10,969,100 | $ 10,969,100 | $ 10,969,100 | $ 12,544,100 | $ 45,451,400 | |||||
| Preference shares | Subsequent Event | ||||||||||
| Subsequent Event [Line Items] | ||||||||||
| Dividends | $ 11,000,000.0 | |||||||||
| 5.625% Preference Shares (AHL PRD) | ||||||||||
| Subsequent Event [Line Items] | ||||||||||
| Dividends | 3,516,000 | 3,516,000 | 3,516,000 | 3,516,000 | $ 14,064,000 | |||||
| Preferred Stock, Dividend Rate, Percentage | 5.625% | 5.625% | ||||||||
| 5.625% Preference Shares (AHL PRD) | Subsequent Event | ||||||||||
| Subsequent Event [Line Items] | ||||||||||
| Preferred Stock, Dividend Rate, Percentage | 5.625% | |||||||||
| Dividend, in usd per share | $ 0.3516 | |||||||||
| 5.625% Preference Shares (AHL PRD) | Subsequent Event | S2026Q1SeriesEDividends | ||||||||||
| Subsequent Event [Line Items] | ||||||||||
| Payable Date | Apr. 01, 2026 | |||||||||
| Dividends Payable, Date Declared | Mar. 15, 2026 | |||||||||
| 5.625% Preference Shares (AHL PRE) | ||||||||||
| Subsequent Event [Line Items] | ||||||||||
| Dividends | $ 3,515,600 | 3,515,600 | 3,515,600 | 3,515,600 | $ 14,062,400 | |||||
| Preferred Stock, Dividend Rate, Percentage | 5.625% | 5.625% | ||||||||
| Depositary share dividend | $ 351,600 | $ 351,600 | ||||||||
| Depositary share interest of 1/1000th in each 5.625% | 0.001% | |||||||||
| 5.625% Preference Shares (AHL PRE) | Subsequent Event | ||||||||||
| Subsequent Event [Line Items] | ||||||||||
| Preferred Stock, Dividend Rate, Percentage | 5.625% | |||||||||
| Dividend, in usd per share | $ 351.56 | |||||||||
| Depositary share dividend | $ 0.3516 | |||||||||
| Depositary share interest of 1/1000th in each 5.625% | 0.001% | |||||||||
| 5.625% Preference Shares (AHL PRE) | Subsequent Event | S2026Q1SeriesFDividends | ||||||||||
| Subsequent Event [Line Items] | ||||||||||
| Payable Date | Apr. 01, 2026 | |||||||||
| Dividends Payable, Date Declared | Mar. 15, 2026 | |||||||||
| 7.00% Preference Shares, rep by Dep Shares (AHL PRF) | ||||||||||
| Subsequent Event [Line Items] | ||||||||||
| Dividends | $ 3,937,500 | $ 3,937,500 | $ 3,937,500 | $ 5,512,500 | $ 17,325,000 | |||||
| Preferred Stock, Dividend Rate, Percentage | 7.00% | 7.00% | 7.00% | |||||||
| Depositary share dividend | $ 437,500 | $ 437,500 | ||||||||
| Depositary share interest of 1/1000th in each 5.625% | 0.001% | |||||||||
| 7.00% Preference Shares, rep by Dep Shares (AHL PRF) | Subsequent Event | ||||||||||
| Subsequent Event [Line Items] | ||||||||||
| Preferred Stock, Dividend Rate, Percentage | 7.00% | |||||||||
| Dividend, in usd per share | $ 437.50 | |||||||||
| Depositary share dividend | $ 0.4375 | |||||||||
| Depositary share interest of 1/1000th in each 7.00% | 0.001% | |||||||||
| 7.00% Preference Shares, rep by Dep Shares (AHL PRF) | Subsequent Event | S2026Q1SeriesGDividends | ||||||||||
| Subsequent Event [Line Items] | ||||||||||
| Payable Date | Apr. 01, 2026 | |||||||||
| Dividends Payable, Date Declared | Mar. 15, 2026 | |||||||||
Schedule I - Investments (Details) - USD ($) $ in Millions |
Dec. 31, 2025 |
Dec. 31, 2024 |
||||
|---|---|---|---|---|---|---|
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | ||||||
| Fair Value | $ 6,393.6 | |||||
| Amount at which shown at the balance sheet | 6,568.6 | |||||
| Privately-held Investments | [1] | 121.8 | $ 286.8 | |||
| Other Investments | [2] | 279.6 | 267.2 | |||
| Fair Value, Recurring [Member] | Apollo originating partnership | ||||||
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | ||||||
| Privately-held Investments | 4.8 | |||||
| Fair Value, Recurring [Member] | Apollo real estate fund | ||||||
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | ||||||
| Other Investments | 81.4 | |||||
| Fair Value, Recurring [Member] | Apollo originating partnership | ||||||
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | ||||||
| Privately-held Investments | 4.8 | $ 73.6 | ||||
| U.S. government | ||||||
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | ||||||
| Amortized Cost or Cost | 1,465.6 | |||||
| Fair Value | 1,485.9 | |||||
| Amount at which shown at the balance sheet | 1,485.9 | |||||
| U.S. agency | ||||||
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | ||||||
| Amortized Cost or Cost | 2.0 | |||||
| Fair Value | 2.0 | |||||
| Amount at which shown at the balance sheet | 2.0 | |||||
| Municipal | ||||||
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | ||||||
| Amortized Cost or Cost | 95.6 | |||||
| Fair Value | 97.0 | |||||
| Amount at which shown at the balance sheet | 97.0 | |||||
| Corporate | ||||||
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | ||||||
| Amortized Cost or Cost | 2,136.6 | |||||
| Fair Value | 2,138.8 | |||||
| Amount at which shown at the balance sheet | 2,138.8 | |||||
| High yield loans | ||||||
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | ||||||
| Amortized Cost or Cost | 99.6 | |||||
| Fair Value | 100.0 | |||||
| Amount at which shown at the balance sheet | 100.0 | |||||
| Non-U.S. government-backed corporate | ||||||
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | ||||||
| Amortized Cost or Cost | 66.0 | |||||
| Fair Value | 66.3 | |||||
| Amount at which shown at the balance sheet | 66.3 | |||||
| Non-U.S. government | ||||||
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | ||||||
| Amortized Cost or Cost | 438.2 | |||||
| Fair Value | 439.2 | |||||
| Amount at which shown at the balance sheet | 439.2 | |||||
| Asset-backed | ||||||
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | ||||||
| Amortized Cost or Cost | 873.0 | |||||
| Fair Value | 872.9 | |||||
| Amount at which shown at the balance sheet | 961.7 | |||||
| Asset-backed | Fair Value, Recurring [Member] | Apollo originating partnership | ||||||
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | ||||||
| Other Investments | 88.8 | |||||
| Non-agency commercial mortgage-backed securities | ||||||
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | ||||||
| Amortized Cost or Cost | 9.8 | |||||
| Fair Value | 9.5 | |||||
| Amount at which shown at the balance sheet | 9.5 | |||||
| Agency mortgage-backed | ||||||
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | ||||||
| Amortized Cost or Cost | 774.1 | |||||
| Fair Value | 753.2 | |||||
| Amount at which shown at the balance sheet | 753.2 | |||||
| Fixed maturities | ||||||
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | ||||||
| Amortized Cost or Cost | 5,960.5 | |||||
| Fair Value | 5,964.8 | |||||
| Amount at which shown at the balance sheet | 6,053.6 | |||||
| Short-term investments — Available for sale | ||||||
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | ||||||
| Amortized Cost or Cost | 45.4 | |||||
| Fair Value | 45.4 | |||||
| Amount at which shown at the balance sheet | 45.4 | |||||
| Privately-held investments | ||||||
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | ||||||
| Amortized Cost or Cost | 170.7 | |||||
| Fair Value | 167.5 | |||||
| Amount at which shown at the balance sheet | 172.3 | |||||
| Equity Method Investments | ||||||
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | ||||||
| Fair Value | 9.6 | |||||
| Amount at which shown at the balance sheet | 9.6 | |||||
| Other investments | ||||||
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | ||||||
| Fair Value | 198.2 | |||||
| Amount at which shown at the balance sheet | 279.6 | |||||
| Equity investments | ||||||
| SEC Schedule, 12-15, Insurance Companies, Summary of Investments, Other than Investments in Related Parties [Line Items] | ||||||
| Fair Value | $ 8.1 | |||||
| ||||||
Schedule II - Condensed Financial Information of Registrant Balance Sheets (Details) - USD ($) $ / shares in Units, $ in Thousands |
12 Months Ended | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jan. 01, 2025 |
Nov. 29, 2024 |
Aug. 13, 2019 |
Sep. 20, 2016 |
May 02, 2013 |
Dec. 31, 2025 |
Dec. 31, 2024 |
May 01, 2025 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|||||||
| ASSETS | ||||||||||||||||
| Fair Market Value | $ 1,162,000 | $ 1,488,700 | ||||||||||||||
| Cash and Cash Equivalent | [1] | 1,658,800 | 914,200 | |||||||||||||
| Right-of-use operating lease assets | 43,400 | 53,500 | ||||||||||||||
| Other assets | 360,400 | 590,800 | ||||||||||||||
| Total assets | 16,309,600 | 15,748,500 | ||||||||||||||
| LIABILITIES | ||||||||||||||||
| Accrued expenses and other payables | [2] | 317,100 | 237,200 | |||||||||||||
| Short-Term Debt | 296,800 | 300,000 | ||||||||||||||
| Operating lease liabilities | 64,700 | 75,600 | ||||||||||||||
| Total liabilities | 12,684,500 | 12,376,600 | ||||||||||||||
| Equity, Including Portion Attributable to Noncontrolling Interest [Abstract] | ||||||||||||||||
| Ordinary shares (7) | [3] | 92 | 91 | |||||||||||||
| Preference shares, value | 699,900 | 970,500 | ||||||||||||||
| Additional paid in capital | [3] | 803,400 | 761,700 | |||||||||||||
| Retained earnings | 2,320,000 | 2,029,700 | ||||||||||||||
| Total accumulated other comprehensive (loss) | (198,300) | (390,100) | $ (400,300) | |||||||||||||
| Total shareholders’ equity | 3,625,100 | 3,371,900 | ||||||||||||||
| Total liabilities and shareholders’ equity | $ 16,309,600 | $ 15,748,500 | ||||||||||||||
| Ordinary shares, issued | 91,838,366 | 90,833,333 | ||||||||||||||
| Ordinary shares, par value | $ 0.001 | $ 0.001 | $ 0.001 | |||||||||||||
| Preference shares, par value | $ 0.0015144558 | |||||||||||||||
| 5.950% Preference Shares (AHL PRC) | ||||||||||||||||
| Equity, Including Portion Attributable to Noncontrolling Interest [Abstract] | ||||||||||||||||
| Preference shares, issued | 11,000,000,000,000 | 0 | 11,000,000 | |||||||||||||
| Preference shares, rate | 5.95% | 5.95% | 5.95% | 5.95% | 5.95% | |||||||||||
| Preference shares, par value | $ 0.0015144558 | $ 0.0015144558 | ||||||||||||||
| 5.625% Preference Shares (AHL PRD) | ||||||||||||||||
| Equity, Including Portion Attributable to Noncontrolling Interest [Abstract] | ||||||||||||||||
| Preference shares, issued | 10,000,000 | 10,000,000 | 10,000,000 | |||||||||||||
| Preference shares, rate | 5.625% | 5.625% | ||||||||||||||
| Preference shares, par value | $ 0.0015144558 | $ 0.0015144558 | ||||||||||||||
| 5.625% Preference Shares (AHL PRE) | ||||||||||||||||
| Equity, Including Portion Attributable to Noncontrolling Interest [Abstract] | ||||||||||||||||
| Preference shares, issued | 10,000,000 | 10,000,000 | 10,000,000 | |||||||||||||
| Preference shares, rate | 5.625% | 5.625% | ||||||||||||||
| Preference shares, par value | $ 0.0015144558 | $ 0.0015144558 | ||||||||||||||
| Parent Company | ||||||||||||||||
| ASSETS | ||||||||||||||||
| Fair Market Value | $ 48,400 | $ 44,300 | ||||||||||||||
| Cash and Cash Equivalent | 325,700 | 43,500 | $ 43,500 | $ 44,400 | ||||||||||||
| Investments in subsidiaries (1) | 3,505,000 | 3,361,300 | ||||||||||||||
| Other Receivables | 0 | 275,000 | ||||||||||||||
| Other recievables due from affiliates | 7,400 | 20,600 | ||||||||||||||
| Right-of-use operating lease assets | 400 | 1,000 | ||||||||||||||
| Other assets | 77,600 | 44,700 | ||||||||||||||
| Total assets | 3,964,500 | 3,790,400 | ||||||||||||||
| LIABILITIES | ||||||||||||||||
| Accrued expenses and other payables | 37,200 | 20,700 | ||||||||||||||
| Other Liabilities | 5,000 | 96,900 | ||||||||||||||
| Long-term debt | 296,800 | 300,000 | ||||||||||||||
| Operating lease liabilities | 400 | 900 | ||||||||||||||
| Total liabilities | 339,400 | 418,500 | ||||||||||||||
| Equity, Including Portion Attributable to Noncontrolling Interest [Abstract] | ||||||||||||||||
| Ordinary shares (7) | 100 | 600 | ||||||||||||||
| Preference shares, value | 700,100 | 970,500 | ||||||||||||||
| Additional paid in capital | 803,400 | 761,200 | ||||||||||||||
| Retained earnings | 2,319,800 | 2,029,700 | ||||||||||||||
| Unrealized (loss)/gains on investments | (61,300) | (198,200) | ||||||||||||||
| (Loss)/gain on derivatives | (200) | (5,300) | ||||||||||||||
| Gains on foreign currency translation (start of period) | $ (186,600) | (186,600) | ||||||||||||||
| Gains on foreign currency translation (end of period) | (136,800) | (186,600) | ||||||||||||||
| Total accumulated other comprehensive (loss) | (198,300) | (390,100) | ||||||||||||||
| Total liabilities and shareholders’ equity | $ 3,964,500 | $ 3,790,400 | ||||||||||||||
| ||||||||||||||||
Schedule II - Condensed Financial Information of Registrant Statements of Operations and Comprehensive Income (Details) - USD ($) $ in Millions |
12 Months Ended | ||||
|---|---|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|||
| Condensed Financial Statements, Captions [Line Items] | |||||
| Dividend income | $ 336.3 | $ 329.5 | $ 287.3 | ||
| Total revenues | 3,219.6 | 3,260.3 | 2,966.1 | ||
| Expenses | |||||
| General, administrative and corporate expenses | [1] | (671.4) | (533.1) | (503.6) | |
| Income from operations before income taxes | 444.1 | 464.1 | 402.6 | ||
| Income tax (expense)/benefit | (103.9) | 22.0 | 132.1 | ||
| Net income/(loss) | 340.2 | 486.1 | 534.7 | ||
| Other Comprehensive Income: | |||||
| Other comprehensive income, net of tax | 191.8 | 10.2 | 106.0 | ||
| Total comprehensive income attributable to Aspen Insurance Holdings Limited | 532.0 | 496.3 | 640.7 | ||
| Parent Company | |||||
| Condensed Financial Statements, Captions [Line Items] | |||||
| Equity in net earnings of subsidiaries and other investments, equity method | (47.9) | 108.9 | 304.7 | ||
| Dividend income | 421.2 | 511.4 | 364.4 | ||
| Realized Investment Gains (Losses) | 1.9 | 0.5 | 1.1 | ||
| Other income | 10.6 | 4.3 | 3.2 | ||
| Total revenues | 385.8 | 625.1 | 673.4 | ||
| Expenses | |||||
| General, administrative and corporate expenses | (46.0) | (109.5) | (121.3) | ||
| Interest expense | (18.6) | (21.1) | (15.6) | ||
| Other Expenses | (3.0) | (3.9) | (1.8) | ||
| Income from operations before income taxes | 318.2 | 490.6 | 534.7 | ||
| Income tax (expense)/benefit | 22.0 | (4.5) | 0.0 | ||
| Net income/(loss) | 340.2 | 486.1 | 534.7 | ||
| Other Comprehensive Income: | |||||
| Change in unrealized gains on investments | 136.9 | 29.4 | 105.6 | ||
| Net change from current period hedged transactions | 5.1 | (5.1) | (14.0) | ||
| Change in foreign currency translation adjustment | 49.8 | (14.1) | 14.4 | ||
| Other comprehensive income, net of tax | 191.8 | 10.2 | 106.0 | ||
| Total comprehensive income attributable to Aspen Insurance Holdings Limited | $ 532.0 | $ 496.3 | $ 640.7 | ||
| |||||
Schedule II - Condensed Financial Information of Registrant Statements of Cash Flows (Details) - USD ($) $ in Millions |
12 Months Ended | |||||||
|---|---|---|---|---|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
||||||
| Cash flows from operating activities: | ||||||||
| Replacement awards and share-based compensation | $ 41.7 | $ 0.0 | $ 0.0 | |||||
| Deferred tax expense/(benefit) | 22.3 | (88.6) | (197.7) | |||||
| Amortization of right-of-use operating lease assets | 10.1 | 9.9 | 10.7 | |||||
| Change in operating lease liabilities | (15.7) | (15.9) | (15.5) | |||||
| Net cash provided by operating activities | 439.0 | 554.9 | 324.7 | |||||
| Cash flows from investing activities: | ||||||||
| Proceeds from sales and maturities of fixed income securities — Trading | 623.0 | 850.1 | 474.0 | |||||
| Net cash provided by/(used in) investing activities | 339.8 | (352.8) | (172.2) | |||||
| Cash flows from financing activities: | ||||||||
| Repayments of Short-Term Debt | 0.0 | 0.0 | (300.0) | |||||
| Proceeds from term loan facility | 0.0 | 0.0 | 300.0 | |||||
| Repayment of term loan facility | (300.0) | 0.0 | 0.0 | |||||
| Redemption of preference shares (1) | 0.0 | [1] | (275.0) | 0.0 | ||||
| Preference share issuance | 0.0 | 217.0 | 0.0 | |||||
| Payments of Ordinary Dividends, Common Stock | 0.0 | (195.0) | (40.3) | |||||
| Payments of Ordinary Dividends, Preferred Stock and Preference Stock | 45.5 | 54.9 | 49.9 | |||||
| Net cash (used in) financing activities | (48.7) | (307.9) | (90.2) | |||||
| Increase in cash and cash equivalents | 744.6 | (113.9) | 68.9 | |||||
| Cash and cash equivalents at beginning of period | [2] | 914.2 | ||||||
| Cash and cash equivalents at end of period (2) | [2] | 1,658.8 | 914.2 | |||||
| Parent | ||||||||
| Cash flows from financing activities: | ||||||||
| Proceeds from term loan facility | 0.0 | 0.0 | 300.0 | |||||
| Repayment of term loan facility | (300.0) | 0.0 | 0.0 | |||||
| Redemption of preference shares (1) | (275.0) | (275.0) | 0.0 | |||||
| Preference share issuance | 300.0 | 217.0 | 0.0 | |||||
| Parent Company | ||||||||
| Cash flows from operating activities: | ||||||||
| Net income (excluding equity in net earnings of subsidiaries) | 388.1 | 377.2 | 230.0 | |||||
| Realized and unrealized investment (gains) | (1.9) | (0.4) | (14.8) | |||||
| Replacement awards and share-based compensation | 41.7 | 0.0 | 0.0 | |||||
| Loss on derivative contracts | 0.0 | 0.0 | 14.0 | |||||
| Deferred tax expense/(benefit) | (4.2) | 0.0 | 0.0 | |||||
| Amortization of right-of-use operating lease assets | 6.3 | 0.7 | 0.5 | |||||
| Interest on operating lease liability | 0.0 | 0.1 | 0.1 | |||||
| Change in other receivables | 275.0 | 0.0 | 0.0 | |||||
| Change in other assets | (28.7) | (39.0) | 0.3 | |||||
| Change in accrued expenses and other payables | 17.9 | (7.1) | 5.5 | |||||
| Change in intercompany activities | (78.8) | (64.1) | (38.4) | |||||
| Change in operating lease liabilities | (0.5) | (0.5) | (0.5) | |||||
| Net cash provided by operating activities | 614.9 | 266.9 | 196.7 | |||||
| Cash flows from investing activities: | ||||||||
| (Purchases) of fixed income securities | (16.8) | (11.3) | (8.1) | |||||
| Proceeds from sales and maturities of fixed income securities — Trading | 14.5 | 10.3 | 6.4 | |||||
| Investment in subsidiaries | (9.9) | 42.0 | (105.7) | |||||
| Net cash provided by/(used in) investing activities | (12.2) | 41.0 | (107.4) | |||||
| Cash flows from financing activities: | ||||||||
| Repayments of Short-Term Debt | 0.0 | 0.0 | (300.0) | |||||
| Net cash (used in) financing activities | (320.5) | (307.9) | (90.2) | |||||
| Increase in cash and cash equivalents | 282.2 | 0.0 | (0.9) | |||||
| Cash and cash equivalents at beginning of period | 43.5 | 43.5 | 44.4 | |||||
| Cash and cash equivalents at end of period (2) | $ 325.7 | $ 43.5 | $ 43.5 | |||||
| ||||||||
Schedule III - Supplementary Insurance Information (Details) - USD ($) $ in Millions |
12 Months Ended | |||||
|---|---|---|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
Dec. 31, 2022 |
|||
| SEC Schedule 12-16, Insurance Companies, Supplementary Insurance Information [Line Items] | ||||||
| Deferred Policy Acquisition Costs | $ 357.2 | $ 322.1 | $ 296.2 | |||
| Net Reserves for Losses and LAE | 4,443.1 | 3,950.6 | 3,232.8 | $ 2,813.2 | ||
| Net Reserves for Unearned Premiums | 1,757.2 | 1,744.1 | 1,692.8 | |||
| Net earned premiums | [1] | 2,831.9 | 2,889.7 | 2,614.5 | ||
| Net Investment Income | 326.3 | 318.0 | 275.7 | |||
| Losses and LAE Expenses | (1,546.7) | (1,717.8) | (1,553.0) | |||
| Policy Acquisition Expenses | (422.4) | (420.2) | (380.2) | |||
| Net written premiums | 2,836.0 | 2,942.6 | 2,581.9 | |||
| General and Administrative Expenses | (492.0) | (405.9) | (354.5) | |||
| Reinsurance | ||||||
| SEC Schedule 12-16, Insurance Companies, Supplementary Insurance Information [Line Items] | ||||||
| Deferred Policy Acquisition Costs | 183.0 | 73.9 | 94.7 | |||
| Net Reserves for Losses and LAE | 2,509.0 | 2,259.1 | 1,859.7 | |||
| Net Reserves for Unearned Premiums | 805.2 | 1,164.1 | 1,048.3 | |||
| Net earned premiums | 1,623.8 | 1,584.0 | 1,460.0 | |||
| Losses and LAE Expenses | (864.4) | (976.5) | (941.9) | |||
| Policy Acquisition Expenses | (243.4) | (193.2) | (171.6) | |||
| Net written premiums | 1,604.9 | 1,666.9 | 1,483.9 | |||
| General and Administrative Expenses | (303.3) | (264.2) | (233.9) | |||
| Insurance | ||||||
| SEC Schedule 12-16, Insurance Companies, Supplementary Insurance Information [Line Items] | ||||||
| Deferred Policy Acquisition Costs | 174.2 | 248.2 | 201.5 | |||
| Net Reserves for Losses and LAE | 1,934.1 | 1,691.5 | 1,373.1 | |||
| Net Reserves for Unearned Premiums | 952.0 | 580.0 | 644.5 | |||
| Net earned premiums | 1,208.1 | 1,305.7 | 1,154.5 | |||
| Losses and LAE Expenses | (682.3) | (741.3) | (611.1) | |||
| Policy Acquisition Expenses | (179.0) | (227.0) | (208.6) | |||
| Net written premiums | 1,231.1 | 1,275.7 | 1,098.0 | |||
| General and Administrative Expenses | $ (188.7) | $ (141.7) | $ (120.6) | |||
| ||||||
Schedule IV - Reinsurance Premiums Written and Premiums Earned (Details) - USD ($) $ in Millions |
12 Months Ended | ||||
|---|---|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|||
| SEC Schedule, 12-17, Insurance Companies, Reinsurance [Abstract] | |||||
| Insurance | $ 2,768.1 | $ 2,723.5 | $ 2,446.6 | ||
| Reinsurance | 1,905.1 | 1,885.8 | 1,521.0 | ||
| Ceded | (1,837.2) | (1,666.7) | (1,385.7) | ||
| Net written premiums | 2,836.0 | 2,942.6 | 2,581.9 | ||
| Gross Amount | 2,752.2 | 2,565.7 | 2,444.8 | ||
| Assumed From Other Companies | 1,850.0 | 1,822.1 | 1,562.0 | ||
| Ceded | (1,770.3) | (1,498.1) | (1,392.3) | ||
| Net premiums earned | [1] | $ 2,831.9 | $ 2,889.7 | $ 2,614.5 | |
| Percentage of Amount Assumed to Net Amount | 65.30% | 63.10% | 59.70% | ||
| Gross written premiums | $ 4,673.2 | $ 4,609.3 | $ 3,967.6 | ||
| |||||
Schedule V - Valuation and Qualifying Accounts (Details) - USD ($) $ in Millions |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2025 |
Dec. 31, 2024 |
Dec. 31, 2023 |
|
| Premiums receivable from underwriting activities | |||
| SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | |||
| Balance at Beginning of Year | $ 24.6 | $ 21.0 | $ 25.0 |
| Charged to Costs and Expenses | 1.7 | 3.6 | (4.0) |
| Charged to Other Accounts | 0.0 | 0.0 | 0.0 |
| Deductions | 0.0 | 0.0 | 0.0 |
| Balance at End of Year | 22.9 | 24.6 | 21.0 |
| Reinsurance | |||
| SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | |||
| Balance at Beginning of Year | 27.5 | 0.0 | 0.0 |
| Charged to Costs and Expenses | 11.3 | (27.5) | |
| Charged to Other Accounts | 0.0 | 0.0 | 0.0 |
| Deductions | 0.0 | 0.0 | 0.0 |
| Balance at End of Year | 16.2 | 27.5 | 0.0 |
| Deferred tax valuation allowance | |||
| SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward] | |||
| Balance at Beginning of Year | 64.0 | 172.7 | 145.7 |
| Charged to Costs and Expenses | (17.7) | (105.5) | (21.5) |
| Charged to Other Accounts | (2.9) | 3.2 | (5.5) |
| Deductions | 0.0 | 0.0 | 0.0 |
| Balance at End of Year | $ 49.2 | $ 64.0 | $ 172.7 |