Deferred Policy Acquisition Costs

3 Months Ended

Mar. 31, 2021

Deferred Policy Acquisition Costs Disclosures [Abstract]

Deferred Policy Acquisition Costs

Deferred policy acquisition costs

The following table presents the amounts of policy acquisition costs deferred and amortized for the three months ended March 31, 2021 and 2020:

	Three Months Ended March 31,
	2021		2020
	(in thousands)
Balance, beginning of period	$	31,912	$	23,564
Policy acquisition costs deferred:
Direct commissions	24,650		18,078
Ceding commissions	(6,204)		(3,872)
Other underwriting and policy acquisition costs	1,368		1,187
Policy acquisition costs deferred	19,814		15,393
Amortization of net policy acquisition costs	(16,985)		(12,952)
Balance, end of period	$	34,741	$	26,005

Amortization of net policy acquisition costs is included in the line item "Underwriting, acquisition and insurance expenses" in the accompanying consolidated statements of income and comprehensive income (loss).