Loss Reserves (Tables)

3 Months Ended

Mar. 31, 2025

Insurance [Abstract]

Liability for Unpaid Loss and Loss Adjustment Expenses, Net of Related Amounts Recoverable from Reinsurers

The following table provides the Company’s liability for unpaid loss and loss adjustment expenses, net of related amounts recoverable from reinsurers, for the three months ended March 31, 2025 and 2024.

	Three Months Ended March 31,
	2025			2024
	(in thousands)
Balance, beginning of period	$	651,309		$	673,994
Less amounts recoverable from reinsurers    on unpaid loss and loss adjustment expenses		112,742			119,746
Net balance, beginning of period		538,567			554,248
Add incurred related to:
Current accident year		48,908			48,597
Prior accident years		(8,749	)		(8,606	)
Total incurred		40,159			39,991
Less paid related to:
Current accident year		2,037			2,137
Prior accident years		47,225			41,522
Total paid		49,262			43,659
Net balance, end of period		529,464			550,580
Add amounts recoverable from reinsurers    on unpaid loss and loss adjustment expenses		110,501			117,479
Balance, end of period	$	639,965		$	668,059

Change in Allowance for Credit Losses on Amounts Recoverable from Reinsurers

The table below presents the change in the allowance for credit losses on amounts recoverable from reinsurers for the three months ended March 31, 2025 and 2024.

	Three Months Ended
	March 31,
	2025			2024
	(in thousands)
Balance, beginning of period	$	300		$	360
Provision for credit loss benefit		(6	)		(51	)
Balance, end of period	$	294		$	309