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Reinsurance (Tables)
6 Months Ended
Jun. 30, 2024
Reinsurance Disclosures [Abstract]  
Summary of the Effects of Reinsurance

The following table presents the effects of reinsurance and assumption transactions on written premiums, earned premiums and losses and LAE (dollars in thousands):

 

 

 

Three Months Ended
June 30,

 

 

Six months ended
June 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Written premiums:

 

 

 

 

 

 

 

 

 

 

 

 

Direct

 

$

19,200

 

 

$

27,183

 

 

$

43,299

 

 

$

51,524

 

Assumed

 

 

(229

)

 

 

17,491

 

 

 

(15

)

 

 

29,364

 

Ceded

 

 

(5,724

)

 

 

(15,346

)

 

 

(14,646

)

 

 

(33,218

)

Net written premiums

 

$

13,247

 

 

$

29,328

 

 

$

28,638

 

 

$

47,670

 

 

 

 

 

 

 

 

 

 

 

 

 

Earned premiums:

 

 

 

 

 

 

 

 

 

 

 

 

Direct

 

$

24,226

 

 

$

23,597

 

 

$

49,034

 

 

$

46,912

 

Assumed

 

 

5,155

 

 

 

12,416

 

 

 

14,579

 

 

 

23,395

 

Ceded

 

 

(12,715

)

 

 

(12,830

)

 

 

(30,060

)

 

 

(25,172

)

Net earned premiums

 

$

16,666

 

 

$

23,183

 

 

$

33,553

 

 

$

45,135

 

 

 

 

 

 

 

 

 

 

 

 

 

Losses and LAE:

 

 

 

 

 

 

 

 

 

 

 

 

Direct

 

$

8,850

 

 

$

24,570

 

 

$

30,832

 

 

$

26,539

 

Assumed

 

 

14,249

 

 

 

4,261

 

 

 

10,985

 

 

 

5,758

 

Ceded

 

 

(7,818

)

 

 

(9,512

)

 

 

(16,016

)

 

 

735

 

Net Losses and LAE

 

$

15,281

 

 

$

19,319

 

 

$

25,801

 

 

$

33,032