v3.26.1
EMPLOYEE BENEFITS
 3 Months Ended
Mar. 31, 2026
Retirement Benefits [Abstract]  
EMPLOYEE BENEFITS EMPLOYEE BENEFITS
Net Periodic Benefit Cost

The components of the net periodic benefit cost for our pension benefit plan are as follows:

Three months ended March 31,20262025
Net periodic benefit cost
Service cost$864 $835 
Interest cost2,309 2,396 
Expected return on plan assets(3,248)(3,396)
Amortization of prior service credit(724)(724)
Net periodic benefit cost$(799)$(889)
A portion of the prior service cost component of net periodic pension benefit costs are capitalized and amortized on a straight-line basis as part of deferred acquisition costs and is included in the line "Amortization of deferred policy acquisition costs" within the Consolidated Statements of Income. The portion not related to the compensation and the other components of net periodic pension benefit costs are included in "Other underwriting expenses" within the Consolidated Statements of Income.

We previously disclosed in our Annual Report on Form 10-K for the year ended December 31, 2025 that we are not required to make a contribution to the pension plan during 2026. See our 2025 Annual Report on Form 10-K, Item 8, Note 8 "Employee Benefits" for information on our retirement benefits.