The following table presents the activity in the liability for unpaid loss and loss adjustment expense (“LAE”) for the nine months ended September 30, 2026 and 2025 ($ in millions): | | | | | | | | | | | | | | | | | September 30, | | | 2026 | | 2025 | | Unpaid loss and LAE at beginning of period | | $ | 303.1 | | | $ | 298.1 | | Less: Reinsurance recoverable at beginning of period (1) | | 133.8 | | | 149.5 | | | Net unpaid loss and LAE at beginning of period | | 169.3 | | | 148.6 | | | Add: Incurred loss and LAE, net of reinsurance, related to: | | | | | | Current year | | 495.1 | | | 271.4 | | | Prior years | | (20.4) | | | (18.9) | | | Total incurred | | 474.7 | | | 252.5 | | | Deduct: Paid loss and LAE, net of reinsurance, related to: | | | | | | Current year | | 350.4 | | | 171.2 | | | Prior years | | 71.1 | | | 65.9 | | | Total paid | | 421.5 | | | 237.1 | | | | | | | | Unpaid loss and LAE, net of reinsurance recoverable, at end of period | | 222.5 | | | 164.0 | | Reinsurance recoverable at end of period (1) | | 98.7 | | | 148.1 | | | Unpaid loss and LAE, gross of reinsurance recoverable, at end of period | | $ | 321.2 | | | $ | 312.1 | |
(1) Reinsurance recoverable in this table includes only ceded unpaid loss and LAE.
|