v3.25.2
Reinsurance (Tables)
 6 Months Ended
Jun. 30, 2025
Reinsurance Disclosures [Abstract]  
Effects of Reinsurance
The following table summarizes the effect of reinsurance on premiums written and earned for the three and six months ended June 30, 2025 and 2024:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
(in thousands)
Premiums written:
Direct$555,522 $529,770 $1,039,797 $978,414 
Ceded(96,822)(99,534)(199,392)(197,124)
Net written$458,700 $430,236 $840,405 $781,290 
Premiums earned:
Direct$480,088 $430,535 $947,110 $833,127 
Ceded(96,475)(98,074)(197,707)(191,148)
Net earned$383,613 $332,461 $749,403 $641,979 
Effects of Reinsurance on Losses
The following table summarizes ceded losses and loss adjustment expenses for the three and six months ended June 30, 2025 and 2024:
Three Months Ended June 30,Six Months Ended June 30,
2025202420252024
(in thousands)
Ceded incurred losses and loss adjustment expenses$39,232 $40,944 $88,159 $70,205 
Reinsurance Recoverables
The following table presents reinsurance recoverables on paid and unpaid losses as of June 30, 2025 and December 31, 2024:
June 30, 2025December 31, 2024
(in thousands)
Reinsurance recoverables on paid losses$5,321 $14,831 
Reinsurance recoverables on unpaid losses, net381,958 323,060 
Reinsurance recoverables, net$387,279 $337,891