Contractual Obligations Off-Balance Sheet Arrangements The table below sets forth the amounts of the Company's contractual obligations at December 31, 2018. The Company's loss and loss expense reserves do not have contractual maturity dates, and the exact timing of the payment of claims cannot be predicted with certainty. However, based upon historical payment patterns, the above table presents an estimate of when the Company might expect its direct loss and loss expense reserves (without the benefit of reinsurance recoveries) to be paid. Timing of the collection of the related reinsurance recoverable, estimated to be $392.4 million at December 31, 2018, or 45% of the amounts presented in the above table, would approximate that of the above projected direct reserve payout but could lag behind such payments by several months in some instances. The investment commitment in the above table relates to a maximum unfunded capital obligation for a limited partnership investment at December 31, 2018. The actual call dates for such funding could vary from that presented. The Company has no off-balance sheet arrangements. Borrowings made under the Company's line of credit can be called by the lender, under certain circumstances, with short notice. The Company entered into a new line of credit on August 9, 2018 with an expiration date of August 9, 2022. - 33 - Payments Due by Period Total Less than 1 year 1 - 3 Years 3 - 5 Years More Than 5 Years (dollars in millions) Loss and loss expense reserves $ 865.3 $ 302.9 $ 285.6 $ 103.8 $ 173.0 Investment commitment 1.3 1.3 – – – Operating leases 0.5 0.4 0.1 – – Borrowings 20.0 20.0 – – – Total $ 887.1 $ 324.6 $ 285.7 $ 103.8 $ 173.0