v3.26.1
Deferred Policy Acquisition Costs
 6 Months Ended
Jun. 30, 2026
Deferred Policy Acquisition Costs Disclosures [Abstract]  
Deferred Policy Acquisition Costs Deferred Policy Acquisition Costs
The following table presents the amounts of policy acquisition costs deferred and amortized for the three and six months ended June 30, 2026 and 2025:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
(in thousands)
Balance, beginning of period$33,835 $24,684 $30,204 $21,552 
Policy acquisition costs deferred:
Direct commissions34,077 27,112 59,877 49,418 
Ceded commissions(11,825)(10,943)(18,208)(17,878)
Underwriting and other insurance expenses463 575 852 980 
22,715 16,744 42,521 32,520 
Amortization of policy acquisition costs(17,546)(13,845)(33,721)(26,489)
Net change5,169 2,899 8,800 6,031 
Balance, end of period$39,004 $27,583 $39,004 $27,583 
Amortization of policy acquisition costs is included in underwriting, acquisition and insurance expenses in the accompanying condensed consolidated statements of operations and comprehensive income.