| REINSURANCE A summary of reinsurance activity is as follows: | | | | | | | | | | | | | | | | | | | | | | | | | (In millions) | For the Three Months Ended
June 30, | | For the Six Months Ended
June 30, | | | 2025 | | 2024 | | 2025 | | 2024 | | Net assumed written premiums | $ | 23.7 | | | $ | 27.3 | | | $ | 49.3 | | | $ | 58.5 | | | Net premiums earned | 24.1 | | | 24.3 | | | 47.6 | | | 46.2 | | | Provision for claims | 19.8 | | | 20.3 | | | 35.9 | | | 37.3 | | | Amortization of capitalized acquisition costs | 0.7 | | | 0.6 | | | 1.3 | | | 1.2 | |
The trust assets and related reinsurance liabilities are as follows: | | | | | | | | | | | | | | | | | | | (In millions) | | | As of | | | Balance Sheet Location | | June 30, 2025 | | December 31, 2024 | | Trust assets | Restricted cash and cash equivalents | | $ | 0.8 | | | $ | 0.3 | | | Trust assets | Restricted securities available for sale | | 107.1 | | | 106.4 | | | Unearned premium | Accounts payable and accrued liabilities | | 77.6 | | | 75.9 | | | Claims reserve (1) | Accounts payable and accrued liabilities | | 6.3 | | | 6.0 | |
(1) The claims reserve represents our liability for incurred-but-not-reported claims and is estimated based on historical claims experience.
|