v3.26.3
Reserve for Losses and Loss Adjustment Expenses (Tables)
9 Months Ended
Sep. 30, 2026
Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]  
Schedule of Reconciliation of Beginning and Ending Reserve Balances for Losses and Loss Adjustment Expenses (LAE)
The following table provides a reconciliation of the beginning and ending reserve balances for losses and loss adjustment expenses (“LAE”) for the nine months ended September 30:
 
(In thousands)20262025
Reserve for losses and LAE at beginning of period$446,822 $328,866 
Less: Reinsurance recoverables56,219 36,754 
Net reserve for losses and LAE at beginning of period390,603 292,112 
Add provision for losses and LAE, net of reinsurance, occurring in:
Current period264,679 159,447 
Prior years(84,013)(66,183)
Net incurred losses and LAE during the current period180,666 93,264 
Deduct payments for losses and LAE, net of reinsurance, occurring in:
Current period1,282 918 
Prior years55,818 35,376 
Net loss and LAE payments during the current period57,100 36,294 
Net reserve for losses and LAE at end of period514,169 349,082 
Plus: Reinsurance recoverables, net of unpaid claims
71,309 48,056 
Reserve for losses and LAE at end of period$585,478 $397,138