| Liability for Unpaid Losses and Loss Adjustment Expenses |
Activity in the liability for losses and LAE is summarized as follows:
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Three Months Ended |
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Six Months Ended |
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June 30, |
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June 30, |
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2026 |
|
|
2025 |
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|
2026 |
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|
2025 |
|
Net balance, beginning of period (a) |
|
$ |
319,992 |
|
|
$ |
316,561 |
|
|
$ |
314,357 |
|
|
$ |
323,335 |
|
Incurred, net of reinsurance, related to: |
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Current period |
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|
71,076 |
|
|
|
64,457 |
|
|
|
136,676 |
|
|
|
123,748 |
|
Prior periods |
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|
— |
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|
|
— |
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|
|
— |
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|
— |
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Total incurred, net of reinsurance |
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|
71,076 |
|
|
|
64,457 |
|
|
|
136,676 |
|
|
|
123,748 |
|
Paid, net of reinsurance, related to: |
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Current period |
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|
(34,880 |
) |
|
|
(23,057 |
) |
|
|
(53,308 |
) |
|
|
(36,152 |
) |
Prior periods |
|
|
(26,410 |
) |
|
|
(36,404 |
) |
|
|
(67,947 |
) |
|
|
(89,374 |
) |
Total paid, net of reinsurance |
|
|
(61,290 |
) |
|
|
(59,461 |
) |
|
|
(121,255 |
) |
|
|
(125,526 |
) |
Net balance, end of period |
|
|
329,778 |
|
|
|
321,557 |
|
|
|
329,778 |
|
|
|
321,557 |
|
Add: reinsurance recoverable before allowance for credit losses |
|
|
229,204 |
|
|
|
375,335 |
|
|
|
229,204 |
|
|
|
375,335 |
|
Gross balance, end of period |
|
$ |
558,982 |
|
|
$ |
696,892 |
|
|
$ |
558,982 |
|
|
$ |
696,892 |
|
(a)Net balance represents beginning-of-period liability for unpaid losses and LAE less beginning-of-period reinsurance recoverable for unpaid losses and LAE.
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