Loss and Loss Adjustment Expense Reserves (Tables)

3 Months Ended

Mar. 31, 2026

Insurance [Abstract]

Summary of Liability for Unpaid Claims and Claims Adjustment Expense

The reconciliation of the beginning and ending reserve balances for losses and loss adjustment expenses (“LAE”), net of reinsurance is summarized as follows:


			For the three months ended March 31,
			2026						2025
			(in millions)
Reserve for losses and LAE gross of reinsurance recoverables on unpaid losses and LAE as of beginning of the period			$	420.4					$	350.0
Less: Reinsurance recoverables on unpaid losses and LAE			(289.0)						(229.9)
Reserve for losses and LAE, net of reinsurance recoverables as of beginning of the period			131.4						120.1
Add: Incurred losses and LAE, net of reinsurance, related to:
Current year			50.0						95.4
Prior years			(2.5)						(3.0)
Total incurred			47.5						92.4
Deduct: Loss and LAE payments, net of reinsurance, related to:
Current year			11.7						50.3
Prior years			24.1						26.8
Total paid			35.8						77.1

Reserve for losses and LAE, net of reinsurance recoverables at end of period			143.1						135.4
Add: Reinsurance recoverables on unpaid losses and LAE at end of period			339.5						265.4
Reserve for losses and LAE gross of reinsurance recoverables on unpaid losses and LAE as of end of the period			$	482.6					$	400.8