Deferred Policy Acquisition Costs

12 Months Ended

Dec. 31, 2018

Deferred Policy Acquisition Costs Disclosures [Abstract]

Deferred Policy Acquisition Costs

Deferred Policy Acquisition Costs

The Company defers costs incurred which are incremental and directly related to the successful acquisition of new or renewal insurance business, net of corresponding amounts of ceded reinsurance commissions. Net deferred policy acquisition costs are amortized and charged to expense in proportion to premium earned over the estimated policy term. The Company anticipates that its deferred policy acquisition costs will be fully recoverable and there were no premium deficiencies for the years December 31, 2018, 2017 and 2016. The activity in deferred policy acquisition costs, net of reinsurance transactions, is as follows (dollars in thousands):

	December 31,
	2018			2017			2016
Balance at beginning of period	$	12,781		$	13,290		$	12,102
Deferred policy acquisition costs	24,764			25,736			26,468
Amortization of policy acquisition costs	(25,534		)	(26,245		)	(25,280		)
Net change	(770		)	(509		)	1,188
Balance at end of period	$	12,011		$	12,781		$	13,290