| Liability for Unpaid Loss and Loss Adjustment Expenses, Net of Related Amounts Recoverable from Reinsurers |
The following table provides a reconciliation of the beginning and ending reserve balances, net of related amounts recoverable from reinsurers, for the three months ended March 31, 2026 and 2025:
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended March 31, |
|
|
|
2026 |
|
|
2025 |
|
|
|
(in thousands) |
|
Balance, beginning of period |
|
$ |
613,583 |
|
|
$ |
651,309 |
|
Less amounts recoverable from reinsurers
on unpaid loss and loss adjustment expenses |
|
|
106,075 |
|
|
|
112,742 |
|
Net balance, beginning of period |
|
|
507,508 |
|
|
|
538,567 |
|
Add incurred related to: |
|
|
|
|
|
|
Current accident year |
|
|
54,052 |
|
|
|
48,908 |
|
Prior accident years |
|
|
(7,612 |
) |
|
|
(8,749 |
) |
Total incurred |
|
|
46,440 |
|
|
|
40,159 |
|
Less paid related to: |
|
|
|
|
|
|
Current accident year |
|
|
2,697 |
|
|
|
2,037 |
|
Prior accident years |
|
|
52,206 |
|
|
|
47,225 |
|
Total paid |
|
|
54,903 |
|
|
|
49,262 |
|
Net balance, end of period |
|
|
499,045 |
|
|
|
529,464 |
|
Add amounts recoverable from reinsurers
on unpaid loss and loss adjustment expenses |
|
|
102,816 |
|
|
|
110,501 |
|
Balance, end of period |
|
$ |
601,861 |
|
|
$ |
639,965 |
|
|
| Change in Allowance for Credit Losses on Amounts Recoverable from Reinsurers |
The table below presents the change in the allowance for credit losses on amounts recoverable from reinsurers for the three months ended March 31, 2026 and 2025.
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
|
March 31, |
|
|
|
2026 |
|
|
2025 |
|
|
|
(in thousands) |
|
Balance, beginning of period |
|
$ |
264 |
|
|
$ |
300 |
|
Provision for credit loss benefit |
|
|
(37 |
) |
|
|
(6 |
) |
Balance, end of period |
|
$ |
227 |
|
|
$ |
294 |
|
|