Reserves for Claims and Claim Expenses (Tables)

6 Months Ended

Jun. 30, 2026

Reserves for Claims and Claim Expenses [Abstract]

Schedule of liability for unpaid claims and claims adjustment expense

The following table presents a reconciliation of changes in the net reserves for claims and claim expenses:



thousands	June 30, 2026
Balance at beginning of the period:
Reserves for claims and claim expenses	$	—
Reinsurance recoverable on unpaid losses	—
Net reserve for claims and claim expenses	—

Acquired net reserve for claims and claim expenses (a)	1,535,414

Net Losses incurred during the period related to:
Current period	54,548
Prior period	662
Total net losses incurred	55,210

Net losses paid during the period related to:
Current period	(3,584)
Prior period	(35,438)
Total net losses paid	(39,022)

Foreign exchange (gains) losses	(50)

Balance at end of the period:
Net reserves for claims and claim expenses	1,551,552
Reinsurance recoverable on unpaid losses (b)	563,864
Reserves for claims and claim expenses	$	2,115,416

(a)Represents reserves for claims and claim expenses of $2.1 billion, net of reinsurance recoverable on unpaid losses of $554.8 million related to the Vantage Acquisition. This amount excludes reinsurance recoverable on paid losses of $44.3 million.

(b)Excludes reinsurance recoverable on paid losses of $37.7 million as of June 30, 2026.