The tables below show the activity regarding deferred policy acquisition costs (“DPAC”) for the three and six

For the three months ended June 30, 2026 and 2025, the Company allocated earned ceding commission income of

$13,197 and $16,992 to policy acquisition costs, respectively, and $13,786 and $21,953 to general and

administrative expenses, respectively. For the six months ended June 30, 2026 and 2025, the Company allocated

earned ceding commission income of $26,124 and $31,796 to policy acquisition costs, respectively, and $26,708 and


	Three Months Ended June 30, 2026
	DPAC, excluding unearned ceding commission	Unearned ceding commission	Total
DPAC, beginning of period	$59,189	$(49,964)	$9,225
Policy acquisition costs deferred during the period:
Producer commissions	35,635	—	35,635
Premium taxes	5,421	—	5,421
Other acquisition costs	3,178	—	3,178
Ceding commissions	—	(26,509)	(26,509)
Total policy acquisition costs	44,234	(26,509)	17,725
Amortization	(31,520)	26,984	(4,536)
DPAC, end of period	$71,903	$(49,489)	$22,414


	Three Months Ended June 30, 2025
	DPAC, excluding unearned ceding commission	Unearned ceding commission	Total
DPAC, beginning of period	$43,450	$(70,286)	$(26,836)
Policy acquisition costs deferred during the period:
Producer commissions	29,118	—	29,118
Premium taxes	5,032	—	5,032
Other acquisition costs	2,674	—	2,674
Ceding commissions	—	(52,123)	(52,123)
Total policy acquisition costs	36,824	(52,123)	(15,299)
Amortization	(23,676)	38,945	15,269
DPAC, end of period	$56,598	$(83,464)	$(26,866)


	Six Months Ended June 30, 2026
	DPAC, excluding unearned ceding commission	Unearned ceding commission	Total
DPAC, beginning of period	$58,810	$(53,683)	$5,127
Policy acquisition costs deferred during the period:
Producer commissions	59,855	—	59,855
Premium taxes	8,519	—	8,519
Other acquisition costs	5,925	—	5,925
Ceding commissions	—	(48,637)	(48,637)
Total policy acquisition costs	74,299	(48,637)	25,662
Amortization	(61,206)	52,831	(8,375)
DPAC, end of period	$71,903	$(49,489)	$22,414


	Six Months Ended June 30, 2025
	DPAC, excluding unearned ceding commission	Unearned ceding commission	Total
DPAC, beginning of period	$38,803	$(70,734)	$(31,931)
Policy acquisition costs deferred during the period:
Producer commissions	47,204	—	47,204
Premium taxes	7,696	—	7,696
Other acquisition costs	5,164	—	5,164
Ceding commissions	—	(90,341)	(90,341)
Total policy acquisition costs	60,064	(90,341)	(30,277)
Amortization	(42,269)	77,611	35,342
DPAC, end of period	$56,598	$(83,464)	$(26,866)