v3.26.1
Deferred Policy Acquisition Costs
 6 Months Ended
Jun. 30, 2026
Insurance [Abstract]  
Deferred Policy Acquisition Costs Deferred Policy Acquisition Costs
Acquisition costs deferred and amortized to net income for the six months ended June 30, 2026 and 2025 are summarized as follows:
As of June 30,20262025
($ in thousands)
Deferred policy acquisition costs, beginning of year
$35,284 $27,625 
Additions to deferred balance:
Broker commission78,826 58,715 
Ceding fee10,375 6,246 
Others8,327 1,818 
Ceding commission(57,608)(41,392)
Total net additions39,920 25,387 
Amortization of net policy acquisition costs(29,713)(20,834)
Deferred policy acquisition costs, end of period$45,491 $32,178 
Six Months Ended June 30,20262025
($ in thousands)
Net policy acquisition costs
Broker commission63,812 49,243 
Ceding fee8,936 5,427 
Others 3,273 1,743 
Ceding commission(46,308)(35,579)
Amortization of net policy acquisition costs $29,713 $20,834