v3.26.3
Reserve for Losses and Loss Adjustment Expenses
 9 Months Ended
Sep. 30, 2026
Insurance [Abstract]  
Reserve for Losses and Loss Adjustment Expenses Reserve for Losses and Loss Adjustment Expenses
The table below provides a reconciliation of the beginning and ending reserve balances for the nine months ended September 30, 2026 and September 30, 2025:
September 30,
2026		September 30,
2025
($ in thousands)
Gross reserves for losses and loss adjustment expenses, beginning of year
$1,129,936 $756,859 
Reinsurance recoverable on unpaid losses, beginning of year
381,697 246,915 
Net reserves for unpaid losses and loss adjustment expenses, beginning of year
$748,239 $509,944 
Net incurred losses and loss adjustment expenses related to:
Current accident year287,831 234,926 
Prior accident years1,644 2,009 
289,475 236,935 
Net paid losses and loss adjustment expenses related to:
Current accident year3,554 2,663 
Prior accident years100,672 56,838 
104,226 59,501 
Net reserves for unpaid losses and loss adjustment expenses, end of period
$933,488 $687,378 
Reinsurance recoverable on unpaid losses, end of period498,864 347,793 
Gross reserves for losses and loss adjustment expenses, end of period
$1,432,352 $1,035,171 
During the nine months ended September 30, 2026 and 2025, there were $1.6 million and $2.0 million of prior accident year losses, respectively. The development in our prior accident year losses were driven by expected loss ratios applied to net additional premiums that were billed and earned in the period, but associated with policies from prior accident years. These amounts were not based on actual losses settling for more than reserved, and did not represent an increase in estimated reserves on unresolved claims.