| Schedule of Reinsurance Effects on Written and Earned Premiums and Losses and Loss Adjustment Expenses |
The following table summarizes the effects of reinsurance on the Company’s written and earned premiums and losses and loss adjustment expenses: | | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2026 | | Written
Premiums | | Earned
Premiums | | Losses and Loss
Adjustment
Expenses | | | ($ in thousands) | | Assumed | | $ | 297,894 | | | $ | 226,044 | | | $ | 150,447 | | | Ceded | | (116,869) | | | (82,091) | | | (53,502) | | | Net | | $ | 181,025 | | | $ | 143,953 | | | $ | 96,945 | |
| | | | | | | | | | | | | | | | | | | | | | Three Months Ended June 30, 2025 | | Written
Premiums | | Earned
Premiums | | Losses and Loss
Adjustment
Expenses | | | ($ in thousands) | | Assumed | | $ | 232,361 | | | $ | 182,808 | | | $ | 119,718 | | | Ceded | | (83,508) | | | (63,671) | | | (40,818) | | | Net | | $ | 148,853 | | | $ | 119,137 | | | $ | 78,900 | |
| | | | | | | | | | | | | | | | | | | | | | Six Months Ended June 30, 2026 | | Written
Premiums | | Earned
Premiums | | Losses and Loss
Adjustment
Expenses | | | ($ in thousands) | | Assumed | | $ | 514,635 | | | $ | 438,963 | | | $ | 290,796 | | | Ceded | | (193,268) | | | (158,201) | | | (102,369) | | | Net | | $ | 321,367 | | | $ | 280,762 | | | $ | 188,427 | |
| | | | | | | | | | | | | | | | | | | | | | Six Months Ended June 30, 2025 | | Written
Premiums | | Earned
Premiums | | Losses and Loss
Adjustment
Expenses | | | ($ in thousands) | | Assumed | | $ | 407,209 | | | $ | 351,661 | | | $ | 231,264 | | | Ceded | | (141,587) | | | (122,707) | | | (78,937) | | | Net | | $ | 265,622 | | | $ | 228,954 | | | $ | 152,327 | |
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| Schedule of Reinsurance Recoverable on Paid and Unpaid Losses and Loss Adjustment Expenses |
The following table summarizes reinsurance recoverable on paid and unpaid losses and loss adjustment expenses: | | | | | | | | | | | | | | | As of | | June 30,
2026 | | December 31,
2025 | | | ($ in thousands) | | Reinsurance recoverable on unpaid losses and loss adjustment expenses | | $ | 454,100 | | | $ | 381,697 | | | Reinsurance recoverable on paid losses and loss adjustment expenses | | 12,375 | | | 18,202 | | | Allowance for credit losses | | (270) | | | (223) | | | Reinsurance recoverable, net | | $ | 466,205 | | | $ | 399,676 | |
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| Schedule of A.M. Best Financial Strength Rating and Percent of Total Reinsurance Recoverable |
The following table summarizes the Company’s top five reinsurers, their A.M. Best financial strength rating and percent of total reinsurance recoverable as of June 30, 2026 and December 31, 2025: | | | | | | | | | | | | | | | | | | | | | | Reinsurer | | A.M. Best Rating | | June 30,
2026 | | December 31,
2025 | | Renaissance Reinsurance U.S. Inc | | A+ | | 30.0% | | 30.1% | | Endurance Assurance Corporation | | A+ | | 23.3% | | 23.5% | | Markel Global Reinsurance Company | | A | | 16.9% | | 18.4% | | American Family Connect Property and Casualty Insurance Company | | A | | 9.9% | | 9.1% | | Ascot Bermuda Limited | | A | | 6.0% | | 7.1% | | All other reinsurers | | At least A | | 13.9% | | 11.8% | Total | | | | 100.0% | | 100.0% |
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