v3.26.1
RETROCESSION (Tables)
 3 Months Ended
Mar. 31, 2026
Reinsurance Disclosures [Abstract]  
Schedule of Ceded Credit Risk
The following table provides a breakdown of ceded reinsurance:
Three months ended March 31
20262025
Gross ceded premiums$44,464 $28,548 
Earned ceded premiums$25,113 $19,292 
Loss and loss adjustment expenses ceded$11,999 $6,656 
Schedule of Effects of Reinsurance
The following table shows a breakdown of losses recoverable on a gross and net of collateral basis:

March 31, 2026December 31, 2025
Gross
Net of Collateral(1)
Gross
Net of Collateral(1)
A- or better by A.M. Best$83,447 $73,642 $78,874 $70,799 
Not rated3,307 1,429 3,035 812 
Total before provision$86,754 $75,071 $81,909 $71,611 
Provision for credit losses(517)(517)
Total reinsurance recoverable, net$86,237 $81,392 
(1) Collateral is in the form of cash, letters of credit, funds withheld, and/or cash collateral held in trust accounts. This excludes any excess collateral in order to disclose the aggregate net exposure for each retrocessionaire.