v3.26.3
Deferred Policy Acquisition Costs
 9 Months Ended
Sep. 30, 2026
Insurance [Abstract]  
Deferred Policy Acquisition Costs Deferred Policy Acquisition Costs
Acquisition costs deferred and amortized to net income for the nine months ended September 30, 2026 and 2025 are summarized as follows:
As of September 30,20262025
($ in thousands)
Deferred policy acquisition costs, beginning of year
$35,284 $27,625 
Additions to deferred balance:
Broker commission115,671 90,822 
Ceding fee16,963 10,970 
Others12,503 2,888 
Ceding commission(89,915)(65,489)
Total net additions55,222 39,191 
Amortization of net policy acquisition costs(46,704)(33,346)
Deferred policy acquisition costs, end of period$43,802 $33,470 
Nine Months Ended September 30,20262025
($ in thousands)
Net policy acquisition costs
Broker commission99,420 77,093 
Ceding fee14,554 9,341 
Others 6,177 2,691 
Ceding commission(73,447)(55,779)
Amortization of net policy acquisition costs $46,704 $33,346