v3.25.2
Reserves for Unpaid Losses and Loss Adjustment Expenses (Tables)
 6 Months Ended
Jun. 30, 2025
Liability for Unpaid Claims and Claims Adjustment Expense, Activity in Liability [Abstract]  
Schedule of Unpaid Losses and Loss Adjustment Expenses
The following table presents a reconciliation of consolidated beginning and ending reserves for unpaid losses and loss adjustment expenses:
June 30,
20252024
(in thousands)
Gross reserves for unpaid losses and loss adjustment expenses, beginning of year
$2,285,668 $1,692,875 
Less: reinsurance recoverable on unpaid losses
323,060 241,357 
Net reserves for unpaid losses and loss adjustment expenses, beginning of year
1,962,608 1,451,518 
Incurred losses and loss adjustment expenses:
Current year480,430 398,058 
Prior years(30,095)(17,947)
Total net losses and loss adjustment expenses incurred450,335 380,111 
Payments:
Current year28,574 8,114 
Prior years142,674 102,829 
Total payments171,248 110,943 
Net reserves for unpaid losses and loss adjustment expenses, end of period
2,241,695 1,720,686 
Reinsurance recoverable on unpaid losses381,958 292,369 
Gross reserves for unpaid losses and loss adjustment expenses, end of period
$2,623,653 $2,013,055