Reserves for Unpaid Losses and Loss Adjustment Expenses (Tables)

6 Months Ended

Jun. 30, 2023

Liability for Unpaid Claims and Claims Adjustment Expense, Activity in Liability [Abstract]

Schedule of Unpaid Losses and Loss Adjustment Expenses

The following table presents a reconciliation of consolidated beginning and ending reserves for unpaid losses and loss adjustment expenses:

	June 30,
	2023		2022
	(in thousands)
Gross reserves for unpaid losses and loss adjustment expenses, beginning of year	$	1,238,402	$	881,344
Less: reinsurance recoverable on unpaid losses	177,039		117,561
Net reserves for unpaid losses and loss adjustment expenses, beginning of year	1,061,363		763,783
Incurred losses and loss adjustment expenses:
Current year	305,536		227,403
Prior years	(19,460)		(17,858)
Total net losses and loss adjustment expenses incurred	286,076		209,545
Payments:
Current year	8,058		6,785
Prior years	92,055		61,317
Total payments	100,113		68,102
Net reserves for unpaid losses and loss adjustment expenses, end of period	1,247,326		905,226
Reinsurance recoverable on unpaid losses	208,408		131,515
Gross reserves for unpaid losses and loss adjustment expenses, end of period	$	1,455,734	$	1,036,741