v3.25.1
Liability for Unpaid Losses and Loss Adjustment Expenses (Tables)
3 Months Ended
Mar. 31, 2025
Insurance [Abstract]  
Schedule of Reconciliation of Changes in the Liability for Unpaid Losses And LAE
The following table provides a reconciliation of changes in the liability for unpaid losses and LAE:
 
    
Three Months Ended March 31,
 
    
2025
    
2024
 
Unpaid Loss and LAE beginning of period
   $ 475,708      $ 279,392  
Less: Reinsurance recoverables on unpaid losses and LAE
     415,086        214,718  
  
 
 
    
 
 
 
Net unpaid loss and LAE at beginning of period
     60,622        64,674  
  
 
 
    
 
 
 
Add: Losses and LAE, net of reinsurance, incurred related to:
     
Current period
     20,283        19,865  
Prior period
     579        500  
  
 
 
    
 
 
 
Total net losses and LAE incurred
     20,862        20,365  
  
 
 
    
 
 
 
Less: Losses and LAE paid, net of reinsurance, related to:
     
Current period
     4,017        4,824  
Prior period
     15,701        17,213  
  
 
 
    
 
 
 
Total net paid losses and LAE
     19,718        22,037  
  
 
 
    
 
 
 
Unpaid loss and LAE, net of reinsurance at end of period
     61,766        63,001  
Add: Reinsurance recoverables on unpaid losses and LAE
     369,854        198,617  
  
 
 
    
 
 
 
Unpaid loss and LAE at end of period
   $ 431,620      $ 261,619