| Schedule of Liability for Unpaid Claims and Claims Adjustment Expense |
The table below shows the analysis of the Company's reserve for unpaid losses for the six months ended June 30, 2026 and 2025:
|
|
|
|
|
|
|
|
|
2026 |
|
|
2025 |
|
Balance at January 1 |
$ |
165,701 |
|
|
$ |
322,087 |
|
Less: reinsurance recoverable on unpaid losses |
|
116,772 |
|
|
|
249,276 |
|
Net balance at January 1 |
|
48,929 |
|
|
|
72,811 |
|
|
|
|
|
|
|
Incurred related to: |
|
|
|
|
|
Current year |
|
29,975 |
|
|
|
30,398 |
|
Prior years |
|
(899 |
) |
|
|
(3,469 |
) |
Total incurred |
|
29,076 |
|
|
|
26,929 |
|
Paid related to: |
|
|
|
|
|
Current year |
|
20,295 |
|
|
|
22,781 |
|
Prior years |
|
10,907 |
|
|
|
14,652 |
|
Total paid |
|
31,202 |
|
|
|
37,433 |
|
|
|
|
|
|
|
Net balance at June 30 |
|
46,803 |
|
|
|
62,307 |
|
Plus: reinsurance recoverable on unpaid losses |
|
72,117 |
|
|
|
156,935 |
|
Balance at June 30 |
|
118,920 |
|
|
|
219,242 |
|
|
|
|
|
|
|
Composition of reserve for unpaid losses and LAE: |
|
|
|
|
|
Case reserves |
|
13,229 |
|
|
|
37,258 |
|
IBNR reserves |
|
105,691 |
|
|
|
181,984 |
|
Balance at June 30 |
$ |
118,920 |
|
|
$ |
219,242 |
|
|