| Schedule of Liability for Unpaid Claims and Claims Adjustment Expense |
The following table represents an analysis of loss and loss adjustment expenses and a reconciliation of the beginning and ending reserve for unpaid loss and loss adjustment expenses: | | | | | | | | | | | | | | | | (Expressed in thousands of U.S. Dollars) | June 30,
2025 | | December 31,
2024 | | | | | | | | Reserve for unpaid loss and loss adjustment expenses | $ | 794,243 | | | $ | 712,098 | | | | Reinsurance recoverable on unpaid loss and loss adjustment expenses, net of allowance for expected credit losses | (213,663) | | | (212,249) | | | | Net reserve for unpaid loss and loss adjustment expenses at beginning of period / year | 580,580 | | | 499,849 | | | | | | | | | Loss and loss adjustment expenses incurred, net of reinsurance: | | | | | | Current accident year | 143,370 | | | 253,323 | | | | Previous accident years | (19,574) | | | (37,211) | | | | Total loss and loss adjustment expenses incurred, net of reinsurance | 123,796 | | | 216,112 | | | | | | | | | Loss and loss adjustment expenses paid, net of reinsurance: | | | | | | Current accident year | (13,333) | | | (21,607) | | | | Prior accident years | (131,103) | | | (113,740) | | | | Total loss and loss adjustment expenses paid, net of reinsurance | (144,436) | | | (135,347) | | | | | | | | | Change in allowance for expected credit losses on reinsurance recoverables on unpaid loss and loss adjustment expenses | — | | | (34) | | | | Net reserve for unpaid loss and loss adjustment expenses at end of period / year | 559,940 | | | 580,580 | | | | Reinsurance recoverable on unpaid loss and loss adjustment expenses, net of allowance for expected credit losses | 241,556 | | | 213,663 | | | | Reserve for unpaid loss and loss adjustment expenses at end of period / year | $ | 801,496 | | | $ | 794,243 | | |
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