v3.26.1
LIABILITY FOR UNPAID LOSSES AND LOSS ADJUSTMENT EXPENSES
 6 Months Ended
Jun. 30, 2026
Insurance [Abstract]  
LIABILITY FOR UNPAID LOSSES AND LOSS ADJUSTMENT EXPENSES LIABILITY FOR UNPAID LOSSES AND LOSS ADJUSTMENT EXPENSES
Set forth in the following table is the change in liability for unpaid losses and LAE for the periods presented (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
 2026202520262025
Balance at beginning of period$668,723 $893,677 $680,712 $959,291 
Less: Reinsurance recoverables(182,464)(433,670)(214,344)(561,936)
Net balance at beginning of period486,259 460,007 466,368 397,355 
Incurred related to:  
Current year244,562 260,234 472,658 510,789 
Prior years— 71 — 71 
Total incurred244,562 260,305 472,658 510,860 
Paid related to:  
Current year143,386 143,875 232,321 208,310 
Prior years108,284 147,209 227,554 270,677 
Total paid251,670 291,084 459,875 478,987 
Net balance at end of period479,151 429,228 479,151 429,228 
Plus: Reinsurance recoverables 154,462 336,627 154,462 336,627 
Balance at end of period$633,613 $765,855 $633,613 $765,855 
During the six months ended June 30, 2026, the liability for unpaid losses and loss adjustment expenses, prior to reinsurance, decreased by $47.1 million from $680.7 million as of December 31, 2025, to $633.6 million as of June 30, 2026. The decrease was principally the result of the settlement of Hurricanes Debby, Helene and Milton claims, claims from other prior hurricanes, and claims from prior accident years.
During the three and six months ended June 30, 2026, there was no prior year development, and $71 thousand of prior year development in the three and six months ended June 30, 2025.