| Schedule of Reinsurance Effects on Written and Earned Premiums and Losses and Loss Adjustment Expenses |
The following table summarizes the effects of reinsurance on the Company’s written and earned premiums and losses and loss adjustment expenses: | | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, 2026 | | Written
Premiums | | Earned
Premiums | | Losses and Loss
Adjustment
Expenses | | | ($ in thousands) | | Assumed | | $ | 256,429 | | | $ | 241,724 | | | $ | 160,352 | | | Ceded | | (106,554) | | | (91,492) | | | (59,304) | | | Net | | $ | 149,875 | | | $ | 150,232 | | | $ | 101,048 | |
| | | | | | | | | | | | | | | | | | | | | | Three Months Ended September 30, 2025 | | Written
Premiums | | Earned
Premiums | | Losses and Loss
Adjustment
Expenses | | | ($ in thousands) | | Assumed | | $ | 231,515 | | | $ | 197,785 | | | $ | 128,807 | | | Ceded | | (82,492) | | | (69,378) | | | (44,199) | | | Net | | $ | 149,023 | | | $ | 128,407 | | | $ | 84,608 | |
| | | | | | | | | | | | | | | | | | | | | | Nine Months Ended September 30, 2026 | | Written
Premiums | | Earned
Premiums | | Losses and Loss
Adjustment
Expenses | | | ($ in thousands) | | Assumed | | $ | 771,064 | | | $ | 680,686 | | | $ | 451,148 | | | Ceded | | (299,823) | | | (249,693) | | | (161,673) | | | Net | | $ | 471,241 | | | $ | 430,993 | | | $ | 289,475 | |
| | | | | | | | | | | | | | | | | | | | | | Nine Months Ended September 30, 2025 | | Written
Premiums | | Earned
Premiums | | Losses and Loss
Adjustment
Expenses | | | ($ in thousands) | | Assumed | | $ | 638,724 | | | $ | 549,446 | | | $ | 360,072 | | | Ceded | | (224,079) | | | (192,086) | | | (123,137) | | | Net | | $ | 414,645 | | | $ | 357,360 | | | $ | 236,935 | |
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| Schedule of Reinsurance Recoverable on Paid and Unpaid Losses and Loss Adjustment Expenses |
The following table summarizes reinsurance recoverable on paid and unpaid losses and loss adjustment expenses: | | | | | | | | | | | | | | | As of | | September 30,
2026 | | December 31,
2025 | | | ($ in thousands) | | Reinsurance recoverable on unpaid losses and loss adjustment expenses | | $ | 498,864 | | | $ | 381,697 | | | Reinsurance recoverable on paid losses and loss adjustment expenses | | 26,571 | | | 18,202 | | | Allowance for credit losses | | (298) | | | (223) | | | Reinsurance recoverable, net | | $ | 525,137 | | | $ | 399,676 | |
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| Schedule of A.M. Best Financial Strength Rating and Percent of Total Reinsurance Recoverable |
The following table summarizes the Company’s top five reinsurers, their A.M. Best financial strength rating and percent of total reinsurance recoverable as of September 30, 2026 and December 31, 2025: | | | | | | | | | | | | | | | | | | | | | | Reinsurer | | A.M. Best Rating | | September 30,
2026 | | December 31,
2025 | | Renaissance Reinsurance U.S. Inc | | A+ | | 29.7% | | 30.1% | | Endurance Assurance Corporation | | A+ | | 23.4% | | 23.5% | | Markel Global Reinsurance Company | | A | | 15.9% | | 18.4% | | American Family Connect Property and Casualty Insurance Company | | A | | 9.9% | | 9.1% | | Ascot Bermuda Limited | | A | | 5.6% | | 7.1% | | All other reinsurers | | At least A | | 15.5% | | 11.8% | Total | | | | 100.0% | | 100.0% |
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