Insurance Reserves for Losses and Claims (Tables)

6 Months Ended

Jun. 30, 2025

The roll-forward of insurance reserves for losses and claims for the six months ended June 30, 2025 and 2024 is as follows:

	Six Months Ended June 30,
	2025				2024
Beginning insurance reserves for losses and claims, gross	$	93,707			$	87,478
Less: Reinsurance recoverable on unpaid losses		(17,390	)			(14,678	)
Beginning insurance reserves for losses and claims, net		76,317				72,800

Incurred related to:
Current accident year		63,346				57,851
Prior accident year development		(2,543	)	⁽¹⁾		1,829	⁽²⁾
Total incurred		60,803				59,680

Paid related to:
Current accident year		24,903				22,405
Prior accident years		27,410				37,016
Total paid		52,313				59,421
Ending insurance reserves for losses and claims, net		84,807				73,059
Plus: Reinsurance recoverable on unpaid losses		16,952				17,565
Ending insurance reserves for losses and claims, gross	$	101,759			$	90,624

(1)	Prior years’ development was primarily the result of favorable development in the Medicare supplement line of business in the life and health operations, partially offset by unfavorable development in the property and casualty operations predominately in the automobile liability line of business.

(2)	Prior years’ development was primarily the result of unfavorable development in the property and casualty operations predominately in the automobile liability line of business due to inflationary factors.

Following is a reconciliation of total incurred losses to total insurance benefits and losses incurred:

	Six Months Ended June 30,
	2025		2024
Total incurred losses	$	60,803	$	59,680
Cash surrender value and matured endowments		1,291		577
Benefit reserve changes		3,466		3,475
Total insurance benefits and losses incurred	$	65,560	$	63,732