Policy Acquisition Costs

12 Months Ended

Dec. 31, 2018

Policy Acquisition Costs

Policy Acquisition Costs

5. Policy Acquisition Costs

The following tables present the policy acquisition costs deferred and amortized:

	December 31,
	2018		2017		2016
	(in thousands)
Deferred Policy Acquisition Costs:
Balance, beginning of year	$	15,161	$	10,654	$	6,804
Additions to deferred balance:
Direct commissions		36,934		27,976		21,453
Ceding commissions		(15,218)		(3,224)		(3,648)
Premium taxes		3,362		2,625		1,807
Total net additions		25,078		27,377		19,612
Amortization of net policy acquisition costs		(26,187)		(22,870)		(15,762)
Balance, end of year	$	14,052	$	15,161	$	10,654
Acquisition expenses:
Amortization of net policy acquisition costs	$	26,187	$	22,870	$	15,762
Period costs		2,037		2,652		1,578
Total Acquisition expenses	$	28,224	$	25,522	$	17,340