2022 Q3 Form 10-Q Financial Statement

#000182810522000034 Filed on August 11, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2021 Q4
Revenue $30.70M $28.70M $32.10M
YoY Change 44.13% 37.32% 95.73%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $48.40M $37.60M $59.10M
YoY Change 35.2% 21.29% 91.26%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.800M $3.500M $3.300M
YoY Change 40.74% 40.0% 73.68%
% of Gross Profit
Operating Expenses $48.40M $37.60M $48.70M
YoY Change 35.2% 21.29% 0.41%
Operating Profit
YoY Change
Interest Expense $100.0K $300.0K -$42.40M
YoY Change -99.62% -100.83% 94.5%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$127.2M -$71.70M -$59.00M
YoY Change 326.85% -14.13% 9.46%
Income Tax $300.0K $300.0K $300.0K
% Of Pretax Income
Net Earnings -$129.2M -$73.50M -$60.70M
YoY Change 318.12% -13.02% 12.2%
Net Earnings / Revenue -420.85% -256.1% -189.1%
Basic Earnings Per Share -$5.66 -$0.13
Diluted Earnings Per Share -$5.66 -$0.13 -$108.1K
COMMON SHARES
Basic Shares Outstanding 572.4M shares 566.1M shares 562.7M shares
Diluted Shares Outstanding 22.84M shares 566.1M shares

Balance Sheet

Concept 2022 Q3 2022 Q2 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $568.1M $629.2M $784.7M
YoY Change -28.18% 73.49%
Cash & Equivalents $346.5M $277.5M $775.6M
Short-Term Investments $221.6M $351.7M $9.100M
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $56.30M $50.00M $41.60M
YoY Change 48.16% 46.2% 2350.41%
LONG-TERM ASSETS
Property, Plant & Equipment $5.500M $4.000M $1.100M
YoY Change
Goodwill $0.00 $53.50M $53.50M
YoY Change -100.0% 11.92%
Intangibles $28.00M $29.20M $32.20M
YoY Change -16.91% -5.01%
Long-Term Investments $330.8M $454.3M $64.00M
YoY Change 359.44% 702.65%
Other Assets $46.40M $47.00M $43.10M
YoY Change 5.22% 1.95%
Total Long-Term Assets $1.574B $1.579B $1.601B
YoY Change -2.87% 45.22% 63.76%
TOTAL ASSETS
Total Short-Term Assets $56.30M $50.00M $41.60M
Total Long-Term Assets $1.574B $1.579B $1.601B
Total Assets $1.630B $1.629B $1.643B
YoY Change -1.7% 45.25% 67.73%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $61.30M $60.10M $41.20M
YoY Change 264.88% 400.83% 29395.15%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $61.30M $60.10M $41.20M
YoY Change 264.88% 400.83% 27140.75%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Other Long-Term Liabilities $68.30M $66.30M $61.70M
YoY Change -25.44% -82.86%
Total Long-Term Liabilities $68.30M $66.30M $61.70M
YoY Change -25.44% -90.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $61.30M $60.10M $41.20M
Total Long-Term Liabilities $68.30M $66.30M $61.70M
Total Liabilities $991.0M $878.0M $781.0M
YoY Change 31.35% -29.64% -6.37%
SHAREHOLDERS EQUITY
Retained Earnings -$898.0M -$768.8M -$628.0M
YoY Change 58.29% 144.74%
Common Stock $0.00 $0.00 $0.00
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $635.0M $749.1M $859.6M
YoY Change
Total Liabilities & Shareholders Equity $1.630B $1.629B $1.643B
YoY Change -1.7% 45.25% 67.73%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2021 Q4
OPERATING ACTIVITIES
Net Income -$129.2M -$73.50M -$60.70M
YoY Change 318.12% -13.02% 12.2%
Depreciation, Depletion And Amortization $3.800M $3.500M $3.300M
YoY Change 40.74% 40.0% 73.68%
Cash From Operating Activities -$43.00M -$29.80M $2.600M
YoY Change -25.73% -44.51% -108.93%
INVESTING ACTIVITIES
Capital Expenditures -$5.500M -$4.500M -$12.60M
YoY Change -237.5% 60.71% 404.0%
Acquisitions
YoY Change
Other Investing Activities $118.0M -$20.50M $5.500M
YoY Change -806.59% -1381.25% -122.36%
Cash From Investing Activities $112.5M -$25.00M -$7.100M
YoY Change -985.83% 1983.33% -73.8%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.100M -2.300M 400.0K
YoY Change -100.23% -23.33% -99.89%
NET CHANGE
Cash From Operating Activities -43.00M -29.80M 2.600M
Cash From Investing Activities 112.5M -25.00M -7.100M
Cash From Financing Activities -1.100M -2.300M 400.0K
Net Change In Cash 68.40M -57.10M -4.100M
YoY Change -83.42% -1.38% -101.32%
FREE CASH FLOW
Cash From Operating Activities -$43.00M -$29.80M $2.600M
Capital Expenditures -$5.500M -$4.500M -$12.60M
Free Cash Flow -$37.50M -$25.30M $15.20M
YoY Change -39.42% -50.29% -157.14%

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The preparation of the Company’s consolidated financial statements in conformity with GAAP requires management to make estimates that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting periods. Significant items subject to such estimates and assumptions include, but are not limited to, loss and loss adjustment expense (“LAE”) reserves, provision for commission slide and cancellations, reinsurance recoverable on paid and unpaid losses and LAE, the fair values of investments, fair value of common stock prior to the Business Combination, stock-based awards, acquired intangible assets and goodwill, deferred tax assets and uncertain tax positions, and revenue recognition. The Company evaluates these estimates on an ongoing basis. These estimates are informed by experience and other assumptions that the Company believes are reasonable under the circumstances. Actual results may differ significantly from these estimates.
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775600000 usd
CY2022Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
47000000.0 usd
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
43100000 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
324500000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
818700000 usd
CY2022Q2 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
82900000 usd
CY2022Q2 us-gaap Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
102600000 usd
CY2022Q2 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
537200000 usd
CY2022Q2 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
12400000 usd
CY2022Q2 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
14100000 usd
CY2021Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
556400000 usd
CY2021Q4 us-gaap Available For Sale Securities Debt Securities Noncurrent
AvailableForSaleSecuritiesDebtSecuritiesNoncurrent
54900000 usd
CY2021Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
620400000 usd
CY2021Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
11600000 usd
CY2021Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
15900000 usd
CY2022Q2 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
39400000 usd
CY2022Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
10200000 usd
CY2022Q2 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
29200000 usd
CY2021Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
43400000 usd
CY2021Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
11200000 usd
CY2021Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
32200000 usd
CY2022Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1100000 usd
CY2021Q2 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
1300000 usd
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
3000000 usd
CY2022Q2 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
46500000 usd
CY2021Q4 us-gaap Capitalized Computer Software Gross
CapitalizedComputerSoftwareGross
34500000 usd
CY2022Q2 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
12500000 usd
CY2021Q4 us-gaap Capitalized Computer Software Accumulated Amortization
CapitalizedComputerSoftwareAccumulatedAmortization
8600000 usd
CY2022Q2 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
34000000.0 usd
CY2021Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
25900000 usd
CY2022Q2 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
2100000 usd
CY2021Q2 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
1100000 usd
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
3900000 usd
us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
2100000 usd
CY2021Q4 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
5100000 usd
CY2022Q2 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
19400000 usd
CY2021Q4 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
21200000 usd
CY2022Q2 us-gaap Insurance Settlements Receivable
InsuranceSettlementsReceivable
13000000.0 usd
CY2021Q4 us-gaap Insurance Settlements Receivable
InsuranceSettlementsReceivable
24400000 usd
CY2022Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
20800000 usd
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
0 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
4000000.0 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1100000 usd
CY2022Q2 us-gaap Other Assets Miscellaneous
OtherAssetsMiscellaneous
5300000 usd
CY2022Q2 us-gaap Other Assets
OtherAssets
62500000 usd
CY2021Q4 us-gaap Other Assets
OtherAssets
51800000 usd
CY2022Q2 hippo Claim Payments Outstanding
ClaimPaymentsOutstanding
27900000 usd
CY2021Q4 hippo Claim Payments Outstanding
ClaimPaymentsOutstanding
23200000 usd
CY2022Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
21700000 usd
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
0 usd
CY2022Q2 hippo Advances From Customers
AdvancesFromCustomers
14000000.0 usd
CY2021Q4 hippo Advances From Customers
AdvancesFromCustomers
8700000 usd
CY2022Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
10400000 usd
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
11200000 usd
CY2022Q2 us-gaap Accrued Salaries Current And Noncurrent
AccruedSalariesCurrentAndNoncurrent
6600000 usd
CY2021Q4 us-gaap Accrued Salaries Current And Noncurrent
AccruedSalariesCurrentAndNoncurrent
8500000 usd
CY2022Q2 hippo Premium Refund Liability
PremiumRefundLiability
7500000 usd
CY2021Q4 hippo Premium Refund Liability
PremiumRefundLiability
4800000 usd
CY2022Q2 hippo Fiduciary Liability
FiduciaryLiability
3900000 usd
CY2021Q4 hippo Fiduciary Liability
FiduciaryLiability
3700000 usd
CY2022Q2 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
12400000 usd
CY2021Q4 us-gaap Business Combination Contingent Consideration Liability
BusinessCombinationContingentConsiderationLiability
11600000 usd
CY2022Q2 us-gaap Other Liabilities
OtherLiabilities
16200000 usd
CY2021Q4 us-gaap Other Liabilities
OtherLiabilities
23700000 usd
CY2022Q2 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
120600000 usd
CY2021Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
95400000 usd
us-gaap Schedule Of Liability For Unpaid Claims And Claims Adjustment Expense
ScheduleOfLiabilityForUnpaidClaimsAndClaimsAdjustmentExpense
<div style="margin-top:6pt;text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The reconciliation of the beginning and ending reserve balances for losses and loss adjustment expenses, net of reinsurance is summarized as follows for the six months ended June 30, (in millions): </span></div><div style="margin-top:12pt;text-align:center"><table style="border-collapse:collapse;display:inline-table;margin-bottom:5pt;vertical-align:text-bottom;width:95.833%"><tr><td style="width:1.0%"/><td style="width:71.809%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.110%"/><td style="width:0.1%"/><td style="width:0.1%"/><td style="width:0.468%"/><td style="width:0.1%"/><td style="width:1.0%"/><td style="width:12.113%"/><td style="width:0.1%"/></tr><tr><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2022</span></td><td colspan="3" style="padding:0 1pt"/><td colspan="3" style="padding:2px 1pt;text-align:center;vertical-align:top"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:100%">2021</span></td></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Reserve for losses and LAE gross of reinsurance recoverables on unpaid losses and LAE as of beginning of the period</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">260.8 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">105.1 </span></td><td style="background-color:#cceeff;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Reinsurance recoverables on unpaid losses and LAE</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(217.0)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(92.1)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Reserve for losses and LAE, net of reinsurance recoverables as of beginning of the period</span></td><td colspan="2" style="background-color:#cceeff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">43.8 </span></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">13.0 </span></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Add: Incurred losses and LAE, net of reinsurance, related to:</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current year</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">57.7 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">39.0 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Prior years</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(6.0)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">(0.3)</span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total incurred</span></td><td colspan="2" style="background-color:#cceeff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">51.7 </span></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">38.7 </span></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Deduct: Loss and LAE payments, net of reinsurance, related to:</span></td><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Current year</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">28.2 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">19.5 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 13pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Prior year</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">12.8 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">5.1 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Total paid</span></td><td colspan="2" style="background-color:#cceeff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">41.0 </span></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;border-top:0.5pt solid #000;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">24.6 </span></td><td style="background-color:#cceeff;border-top:0.5pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr style="height:12pt"><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Reserve for losses and LAE, net of reinsurance recoverables at end of period</span></td><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">54.5 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td colspan="2" style="background-color:#cceeff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">27.1 </span></td><td style="background-color:#cceeff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#ffffff;padding:2px 1pt 2px 7pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Add: Reinsurance recoverables on unpaid losses and LAE at end of period</span></td><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">214.3 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#ffffff;padding:0 1pt"/><td colspan="2" style="background-color:#ffffff;padding:2px 0 2px 1pt;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">168.1 </span></td><td style="background-color:#ffffff;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr><tr><td colspan="3" style="background-color:#cceeff;padding:2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">Reserve for losses and LAE gross of reinsurance recoverables on unpaid losses and LAE as of end of the period</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">268.8 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/><td colspan="3" style="background-color:#cceeff;padding:0 1pt"/><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0 2px 1pt;text-align:left;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">$</span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 0;text-align:right;vertical-align:bottom"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:8pt;font-weight:400;line-height:100%">195.2 </span></td><td style="background-color:#cceeff;border-bottom:3pt double #000;border-top:1pt solid #000;padding:2px 1pt 2px 0;text-align:right;vertical-align:bottom"/></tr></table></div>
CY2021Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
260800000 usd
CY2020Q4 us-gaap Liability For Claims And Claims Adjustment Expense
LiabilityForClaimsAndClaimsAdjustmentExpense
105100000 usd
CY2021Q4 us-gaap Reinsurance Recoverable For Unpaid Claims And Claims Adjustments
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