Reinsurance (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Reinsurance [Abstract] |
|
| Ceded Reinsurance Transactions with Unaffiliated Reinsurers |
The following amounts represent ceded reinsurance transactions with unaffiliated reinsurers during 2025, 2024 and 2023:
| |
|
2025
|
|
|
2024
|
|
|
2023
|
|
|
Premiums written
|
|
$
|
32,093,676 |
|
|
$
|
38,495,838 |
|
|
$
|
43,030,879 |
|
|
Premiums earned
|
|
|
32,499,899 |
|
|
|
38,688,465 |
|
|
|
42,416,710 |
|
|
Losses and loss expenses
|
|
|
(3,178,091 |
)
|
|
|
(2,537,221 |
)
|
|
|
16,318,760 |
|
|
Prepaid reinsurance premiums
|
|
|
6,134,104 |
|
|
|
6,540,327 |
|
|
|
6,732,955 |
|
|
Liability for losses and loss expenses
|
|
|
86,978,777 |
|
|
|
101,730,415 |
|
|
|
116,717,187 |
|
|
| Total Ceded Reinsurance Transactions with both Affiliated and Unaffiliated Reinsurers |
The following amounts represent total ceded reinsurance transactions with both affiliated and unaffiliated reinsurers during 2025, 2024 and 2023:
| |
|
2025
|
|
|
2024
|
|
|
2023
|
|
|
Premiums earned
|
|
$
|
405,133,479 |
|
|
$
|
411,032,074 |
|
|
$
|
388,073,427 |
|
|
Losses and loss expenses
|
|
|
202,503,757 |
|
|
|
214,853,176 |
|
|
|
275,171,587 |
|
|
Prepaid reinsurance premiums
|
|
|
171,083,219 |
|
|
|
176,161,872 |
|
|
|
168,724,466 |
|
|
Liability for losses and loss expenses
|
|
|
395,229,241 |
|
|
|
417,012,858 |
|
|
|
437,013,974 |
|
|
| Amounts Represent Effect of Reinsurance on Premiums Written |
The following amounts represent the effect of reinsurance on premiums written for 2025, 2024 and 2023:
| |
|
2025
|
|
|
2024
|
|
|
2023
|
|
|
Direct
|
|
$
|
695,699,115 |
|
|
$
|
737,539,403 |
|
|
$
|
702,227,408 |
|
|
Assumed
|
|
|
609,182,350 |
|
|
|
623,210,848 |
|
|
|
589,675,724 |
|
|
Ceded
|
|
|
(400,054,828 |
)
|
|
|
(418,469,480 |
)
|
|
|
(396,206,492 |
)
|
|
Net premiums written
|
|
$
|
904,826,637 |
|
|
$
|
942,280,771 |
|
|
$
|
895,696,640 |
|
|
| Amounts Represent Effect of Reinsurance on Premiums Earned |
The following amounts represent the effect of reinsurance on premiums earned for 2025, 2024 and 2023:
| |
|
2025
|
|
|
2024
|
|
|
2023
|
|
|
Direct
|
|
$
|
709,082,223 |
|
|
$
|
735,818,955 |
|
|
$
|
686,584,907 |
|
|
Assumed
|
|
|
617,234,831 |
|
|
|
611,864,599 |
|
|
|
583,559,906 |
|
|
Ceded
|
|
|
(405,133,479 |
)
|
|
|
(411,032,074 |
)
|
|
|
(388,073,427 |
)
|
|
Net premiums earned
|
|
$
|
921,183,575 |
|
|
$
|
936,651,480 |
|
|
$
|
882,071,386 |
|
|
Percentage of assumed premiums earned to net premiums earned
|
|
|
67.0 |
%
|
|
|
65.3 |
%
|
|
|
66.2 |
%
|
|