v3.26.3
Reinsurance and Insurance Loss Reserves
 6 Months Ended
Sep. 26, 2026
Insurance [Abstract]  
Reinsurance and Insurance Loss Reserves Reinsurance and Insurance Loss Reserves
Certain of Standard Casualty Company's premiums and benefits are assumed from and ceded to other insurance companies under various reinsurance agreements. We remain obligated for amounts ceded in the event that the reinsurers do not meet their obligations.
The effects of reinsurance on premiums written and earned were as follows (in thousands):
Three Months Ended
September 26, 2026September 27, 2025
WrittenEarnedWrittenEarned
Direct premiums
$8,380 $10,689 $9,292 $11,184 
Assumed premiums—nonaffiliated
11,546 11,086 11,716 10,963 
Ceded premiums—nonaffiliated
(6,882)(6,882)(7,654)(7,654)

$13,044 $14,893 $13,354 $14,493 
Six Months Ended
September 26, 2026September 27, 2025
WrittenEarnedWrittenEarned
Direct premiums
$19,242 $21,645 $21,443 $22,716 
Assumed premiums—nonaffiliated
23,413 21,947 23,198 21,833 
Ceded premiums—nonaffiliated
(13,787)(13,787)(15,364)(15,364)

$28,868 $29,805 $29,277 $29,185 
Typical insurance policies written or assumed are recoverable through reinsurance for catastrophic losses in excess of $4.0 million per occurrence, up to a maximum of $75 million in the aggregate for that occurrence.
The following details the activity in the incurred but not reported reserve for the three and six months ended September 26, 2026 and September 27, 2025 (in thousands):
Three Months EndedSix Months Ended
September 26,
2026		September 27,
2025		September 26,
2026		September 27,
2025
Balance at beginning of period$10,848 $13,118 $9,778 $16,201 
Net incurred losses during the period8,014 7,782 18,232 18,885 
Net claim payments during the period(9,379)(10,640)(18,527)(24,826)
Balance at end of period$9,483 $10,260 $9,483 $10,260