v3.26.1
Reserve for Losses and Loss Adjustment Expenses
 3 Months Ended
Mar. 31, 2026
Insurance [Abstract]  
Reserve for Losses and Loss Adjustment Expenses Reserve for Losses and Loss Adjustment Expenses
The table below provides a reconciliation of the beginning and ending reserve balances for the three months ended March 31, 2026 and March 31, 2025:
March 31,
2026		March 31,
2025
($ in thousands)
Gross reserves for losses and loss adjustment expenses, beginning of year
$1,129,936 $756,859 
Reinsurance recoverable on unpaid losses, beginning of year
381,697 246,915 
Net reserves for unpaid losses and loss adjustment expenses, beginning of year
$748,239 $509,944 
Net incurred losses and loss adjustment expenses related to:
Current accident year90,879 72,983 
Prior accident years602 444 
91,481 73,427 
Net paid losses and loss adjustment expenses related to:
Current accident year639 549 
Prior accident years31,189 16,386 
31,828 16,935 
Net reserves for unpaid losses and loss adjustment expenses, end of period
$807,892 $566,436 
Reinsurance recoverable on unpaid losses, end of period412,908 278,788 
Gross reserves for losses and loss adjustment expenses, end of period
$1,220,800 $845,224 
During the three months ended March 31, 2026 and 2025, there were $0.6 million and $0.4 million of prior accident year losses, respectively. The existence of our prior accident year losses were driven by expected loss ratios applied to additional premiums that were billed and earned in the period, but associated with policies from prior accident years. These amounts were not based on actual losses settling for more than reserved, and did not represent an increase in estimated reserves on unresolved claims.