Unpaid Losses and Loss Adjustment Expenses (Tables)

6 Months Ended

Jun. 30, 2021

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 June 30,						Six months ended June 30,
	2021			2020			2021			2020
Gross reserves - beginning of period	$	118,676		$	109,657		$	111,270		$	107,246
Less: reinsurance recoverables on unpaid losses		(26,559	)		(22,022	)		(24,218	)		(22,579	)
Net reserves - beginning of period		92,117			87,635			87,052			84,667
Add: incurred losses and LAE, net of reinsurance:
Current period		11,716			8,908			25,300			19,428
Prior period		6,210			3,037			11,988			6,786
Total net incurred losses and LAE		17,926			11,945			37,288			26,214
Deduct: loss and LAE payments, net of reinsurance:
Current period		5,120			3,044			8,300			3,918
Prior period		9,895			10,694			21,012			21,121
Total net loss and LAE payments		15,015			13,738			29,312			25,039
Net reserves - end of period		95,028			85,842			95,028			85,842
Plus: reinsurance recoverables on unpaid losses		22,824			20,892			22,824			20,892
Gross reserves - end of period	$	117,852		$	106,734		$	117,852		$	106,734