v3.26.1
Reserve for Losses and Loss Adjustment Expenses
 6 Months Ended
Jun. 30, 2026
Insurance [Abstract]  
Reserve for Losses and Loss Adjustment Expenses Reserve for Losses and Loss Adjustment Expenses
The table below provides a reconciliation of the beginning and ending reserve balances for the six months ended June 30, 2026 and June 30, 2025:
June 30,
2026		June 30,
2025
($ in thousands)
Gross reserves for losses and loss adjustment expenses, beginning of year
$1,129,936 $756,859 
Reinsurance recoverable on unpaid losses, beginning of year
381,697 246,915 
Net reserves for unpaid losses and loss adjustment expenses, beginning of year
$748,239 $509,944 
Net incurred losses and loss adjustment expenses related to:
Current accident year187,672 151,768 
Prior accident years755 559 
188,427 152,327 
Net paid losses and loss adjustment expenses related to:
Current accident year1,952 1,547 
Prior accident years70,170 26,690 
72,122 28,237 
Net reserves for unpaid losses and loss adjustment expenses, end of period
$864,544 $634,034 
Reinsurance recoverable on unpaid losses, end of period454,100 316,685 
Gross reserves for losses and loss adjustment expenses, end of period
$1,318,644 $950,719 
During the six months ended June 30, 2026 and 2025, there were $0.8 million and $0.6 million of prior accident year losses, respectively. The development in our prior accident year losses were driven by expected loss ratios applied to net additional premiums that were billed and earned in the period, but associated with policies from prior accident years. These amounts were not based on actual losses settling for more than reserved, and did not represent an increase in estimated reserves on unresolved claims.