Unpaid Losses and Loss Adjustment Expenses (Tables)

3 Months Ended

Mar. 31, 2024

Insurance Loss Reserves [Abstract]

Schedule of the Changes in the Reserves for Losses and Loss Adjustment Expense

The table below provides the changes in the reserves for losses and LAE, net of reinsurance recoverables, for the periods indicated as follows (dollars in thousands):

	Three months ended March 31,
	2024			2023
Gross reserves - beginning of period	$	174,612		$	165,539
Less: reinsurance recoverables on unpaid losses		(70,807	)		(82,651	)
Net reserves - beginning of period		103,805			82,888
Add: incurred losses and LAE, net of reinsurance:
Current period		10,981			14,926
Prior period		(461	)		(1,213	)
Total net incurred losses and LAE		10,520			13,713
Deduct: loss and LAE payments, net of reinsurance:
Current period		2,862			1,987
Prior period		9,444			10,353
Total net loss and LAE payments		12,306			12,340
Net reserves - end of period		102,019			84,261
Plus: reinsurance recoverables on unpaid losses		73,807			61,101
Gross reserves - end of period	$	175,826		$	145,362