v3.25.2
LOSS AND LOSS ADJUSTMENT EXPENSE RESERVES (Tables)
6 Months Ended
Jun. 30, 2025
Insurance [Abstract]  
Schedule of Reserve Balance
The following provides a reconciliation of the beginning and ending reserve balances for loss and LAE, net of reinsurance:
Six Months Ended June 30,
20252024
(dollars in millions)
Gross loss and LAE reserves, January 1$413.2 $284.2 
Reinsurance recoverable on unpaid losses(48.0)(43.8)
Net loss and LAE reserves, January 1365.2 240.4 
Net incurred loss and LAE related to:
Current year452.9 361.3 
Prior years(14.0)(4.6)
Total incurred438.9 356.7 
Net paid loss and LAE related to:
Current year205.9 153.5
Prior years189.7 119.5
Total paid395.6 273.0 
Net loss and LAE reserves, June 30
408.5 324.1 
Plus reinsurance recoverable on unpaid losses36.0 51.7 
Gross loss and LAE reserves, June 30
$444.5 $375.8