Reinsurance (Tables)

3 Months Ended

Mar. 31, 2023

Insurance [Abstract]

Effects of Reinsurance

The following table sets forth the effects of reinsurance on premiums written and earned for the three months ended March 31, 2023 and 2022:

	2023				2022
($ in thousands)	Written		Earned		Written		Earned
Direct premiums	$	308,213	$	262,658	$	248,635	$	222,637
Assumed premiums	52,285		39,131		34,007		26,595
Ceded premiums	(158,357)		(118,958)		(147,241)		(107,506)
Net premiums	$	202,141	$	182,831	$	135,401	$	141,726
Ceded losses and LAE incurred			$	64,794			$	61,527

Ceded Credit Risk

The following table sets forth the components of reinsurance recoverables and ceded unearned premium as of March 31, 2023 and December 31, 2022:

($ in thousands)	March 31, 2023		December 31, 2022
Unpaid losses and loss adjustment expenses ceded	$	429,752	$	435,986
Paid losses and loss adjustment expense ceded	107,463		107,228
Loss portfolio transfer	35,584		38,145
Allowance for credit losses	(2,295)		—
Reinsurance recoverables	$	570,504	$	581,359
Ceded unearned premium	$	197,044	$	157,645