XML 39 R27.htm IDEA: XBRL DOCUMENT v3.22.1
Reinsurance (Tables)
 3 Months Ended
Mar. 31, 2022
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

March 31,

 

 

 

2022

 

 

2021

 

Written premiums:

 

 

 

 

 

 

 

 

Direct

 

$

24,796

 

 

$

23,433

 

Assumed

 

 

8,168

 

 

 

6,940

 

Ceded

 

 

(14,943

)

 

 

(5,890

)

Net written premiums

 

$

18,021

 

 

$

24,483

 

 

 

 

 

 

 

 

 

 

Earned premiums:

 

 

 

 

 

 

 

 

Direct

 

$

24,123

 

 

$

20,990

 

Assumed

 

 

8,641

 

 

 

7,257

 

Ceded

 

 

(8,809

)

 

 

(5,412

)

Net earned premiums

 

$

23,955

 

 

$

22,835

 

 

 

 

 

 

 

 

 

 

Losses and LAE:

 

 

 

 

 

 

 

 

Direct

 

$

13,066

 

 

$

20,750

 

Assumed

 

 

7,408

 

 

 

6,781

 

Ceded

 

 

(2,456

)

 

 

(8,169

)

Net Losses and LAE

 

$

18,018

 

 

$

19,362

 

Some of the excess of loss treaties that renewed on December 31, 2021 and January 1, 2022, included ceding commissions equal to 40% of the ceded premiums.  The ceding commission is reflected as a reduction in acquisition costs and amounted to $2.2 million for the three months ended March 31, 2022.  There were no ceding commissions on the excess of loss treaties during 2021.