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Reinsurance (Tables)
 9 Months Ended
Sep. 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
September 30,

 

 

Nine months ended
September 30,

 

 

 

2024

 

 

2023

 

 

2024

 

 

2023

 

Written premiums:

 

 

 

 

 

 

 

 

 

 

 

 

Direct

 

$

14,779

 

 

$

25,589

 

 

$

58,078

 

 

$

77,113

 

Assumed

 

 

307

 

 

 

12,959

 

 

 

292

 

 

 

42,323

 

Ceded

 

 

(3,912

)

 

 

(32,859

)

 

 

(18,558

)

 

 

(66,077

)

Net written premiums

 

$

11,174

 

 

$

5,689

 

 

$

39,812

 

 

$

53,359

 

 

 

 

 

 

 

 

 

 

 

 

 

Earned premiums:

 

 

 

 

 

 

 

 

 

 

 

 

Direct

 

$

21,247

 

 

$

24,725

 

 

$

70,281

 

 

$

71,637

 

Assumed

 

 

2,031

 

 

 

13,425

 

 

 

16,610

 

 

 

36,820

 

Ceded

 

 

(8,677

)

 

 

(14,171

)

 

 

(38,737

)

 

 

(39,343

)

Net earned premiums

 

$

14,601

 

 

$

23,979

 

 

$

48,154

 

 

$

69,114

 

 

 

 

 

 

 

 

 

 

 

 

 

Losses and LAE:

 

 

 

 

 

 

 

 

 

 

 

 

Direct

 

$

15,577

 

 

$

13,337

 

 

$

46,409

 

 

$

39,876

 

Assumed

 

 

6,303

 

 

 

7,314

 

 

 

17,288

 

 

 

13,072

 

Ceded

 

 

(6,728

)

 

 

260

 

 

 

(22,744

)

 

 

995

 

Net Losses and LAE

 

$

15,152

 

 

$

20,911

 

 

$

40,953

 

 

$

53,943