v3.26.1
Reinsurance (Tables)
3 Months Ended
Mar. 31, 2026
Insurance [Abstract]  
Schedule of Effects of Reinsurance
The following tables set forth the effects of reinsurance on written and earned premiums and losses and loss adjustment expenses for the three months ended March 31, 2026 and 2025:
Three months ended March 31,
20262025
($ in thousands)WrittenEarnedWrittenEarned
Direct premiums$507,134 $515,489 $408,310 $385,438 
Assumed premiums160,570 149,556 127,016 78,727 
Ceded premiums(234,821)(231,038)(192,055)(163,799)
Net premiums$432,883 $434,007 $343,271 $300,366 
Ceded losses and LAE incurred$152,573 $135,467 
Schedule of Ceded Credit Risk
The following table sets forth the components of reinsurance recoverables and ceded unearned premium as of March 31, 2026 and December 31, 2025:
($ in thousands)March 31, 2026December 31, 2025
Ceded unpaid losses and LAE$1,109,909 $921,165 
Ceded paid losses and LAE229,323 201,010 
Allowance for credit losses(2,295)(2,295)
Reinsurance recoverables$1,336,937 $1,119,880 
Ceded unearned premium$314,850 $238,948