v3.26.1
Unpaid Losses and Loss Adjustment Expenses (Tables)
3 Months Ended
Mar. 31, 2026
Insurance Loss Reserves [Abstract]  
Schedule of the Changes in the Reserves for Losses and Loss Adjustment Expense

The table below provides the changes in the reserves for losses and LAE, net of reinsurance recoverables, for the periods indicated as follows (dollars in thousands):

 

 

 

Three months ended
March 31,

 

 

 

2026

 

 

2025

 

Gross reserves - beginning of period

 

$

146,262

 

 

$

189,285

 

Less: reinsurance recoverables on unpaid losses

 

 

(63,909

)

 

 

(84,490

)

Net reserves - beginning of period

 

 

82,353

 

 

 

104,795

 

Add: incurred losses and LAE, net of reinsurance:

 

 

 

 

 

 

Current period

 

 

3,508

 

 

 

9,130

 

Prior period

 

 

(179

)

 

 

144

 

Total net incurred losses and LAE

 

 

3,329

 

 

 

9,274

 

Deduct: loss and LAE payments, net of reinsurance:

 

 

 

 

 

 

Current period

 

 

980

 

 

 

1,593

 

Prior period

 

 

9,215

 

 

 

13,986

 

Total net loss and LAE payments

 

 

10,195

 

 

 

15,579

 

Net reserves - end of period

 

 

75,487

 

 

 

98,490

 

Plus: reinsurance recoverables on unpaid losses

 

 

62,014

 

 

 

77,872

 

Gross reserves - end of period

 

$

137,501

 

 

$

176,362