| Schedule for Reserve for Loss and LAE and Schedule of Prior Period Development Experienced |
The reserve for loss and LAE consists of: | | | | | | | | | | | | | | | | | June 30, 2026 | | December 31, 2025 | Reserve for reported loss and LAE | | $ | 269,146 | | | $ | 312,567 | | Reserve for losses incurred but not reported ("IBNR") | | 285,195 | | | 324,602 | | Reserve for loss and LAE | | $ | 554,341 | | | $ | 637,169 | |
The following table represents a reconciliation of our beginning and ending gross and net loss and LAE reserves: | | | | | | | | | | | | | | | | For the Six Months Ended June 30, | | 2026 | | 2025 | Gross loss and LAE reserves, January 1 | | $ | 637,169 | | | $ | — | | Less: reinsurance recoverable on unpaid losses, January 1 | | 461,197 | | | — | | Net loss and LAE reserves, January 1 | | 175,972 | | | — | | Net incurred losses related to: | | | | | Current year | | 1,562 | | | 1,827 | | Prior years | | 2,208 | | | (7,788) | | | | 3,770 | | | (5,961) | | Net paid losses related to: | | | | | Current year | | (134) | | | (391) | | Prior years | | (31,611) | | | (22,115) | | | | (31,745) | | | (22,506) | | | | | | | | Net Maiden Legacy run-off business acquired | | — | | | 221,109 | | | | | | | Effect of foreign exchange rate movements | | (5,777) | | | 10,270 | | | Net loss and LAE reserves, June 30 | | 142,220 | | | 202,912 | | | Reinsurance recoverable on unpaid losses, June 30 | | 412,121 | | | 520,520 | | | Gross loss and LAE reserves, June 30 | | $ | 554,341 | | | $ | 723,432 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the Three Months Ended June 30, | | For the Six Months Ended June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | Prior Year Loss Development (favorable) adverse | | | | | | | | | | Diversified Reinsurance legacy business | | $ | (359) | | | $ | 125 | | | $ | (633) | | | $ | 125 | | | AmTrust Reinsurance legacy business | | 2,290 | | | (7,913) | | | 2,841 | | | (7,913) | | | Total PPD for Legacy Reinsurance Segment | | $ | 1,931 | | | $ | (7,788) | | | $ | 2,208 | | | $ | (7,788) | |
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| Schedule of Prior Year Loss Development for the AmTrust Reinsurance Legacy Operations |
The table below shows PPD for the AmTrust Reinsurance legacy operations for the three and six months ended June 30, 2026 and 2025: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | For the Three Months Ended June 30, | | For the Six Months Ended June 30, | | | 2026 | | 2025 | | 2026 | | 2025 | | Prior Year Loss Development (favorable) adverse | | | | | | | | | | AmTrust Quota Share | | $ | 1,340 | | | $ | (4,200) | | | $ | 1,710 | | | $ | (4,200) | | | LPT/ADC Agreement | | (57) | | | (3,718) | | | 122 | | | (3,718) | | | European Hospital Liability Quota Share | | 1,007 | | | 5 | | | 1,009 | | | 5 | | | Total AmTrust Reinsurance PPD | | $ | 2,290 | | | $ | (7,913) | | | $ | 2,841 | | | $ | (7,913) | |
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