v3.26.3
RETROCESSION (Tables)
 9 Months Ended
Sep. 30, 2026
Reinsurance Disclosures [Abstract]  
Schedule of Ceded Credit Risk
The following table provides a breakdown of ceded reinsurance:
Three months ended September 30Nine months ended September 30
2026202520262025
Gross ceded premiums$39,173 $21,695 $119,946 $65,344 
Earned ceded premiums$35,142 $22,181 $92,041 $58,782 
Loss and loss adjustment expenses ceded$28,213 $(2,546)$57,322 $13,116 
Schedule of Effects of Reinsurance
The following table shows a breakdown of losses recoverable on a gross and net of collateral basis:

September 30, 2026December 31, 2025
Gross
Net of Collateral(1)
Gross
Net of Collateral(1)
A- or better by A.M. Best$109,230 $94,519 $78,874 $70,799 
Not rated9,648 2,446 3,035 812 
Total before provision$118,878 $96,965 $81,909 $71,611 
Provision for credit losses(517)(517)
Total reinsurance recoverable, net$118,361 $81,392 
(1) Collateral is in the form of cash, letters of credit, funds withheld, and/or cash collateral held in trust accounts. This excludes any excess collateral in order to disclose the aggregate net exposure for each retrocessionaire.