Underwriting Information

9 Months Ended

Sep. 30, 2021

Underwriting Information

Underwriting Information

7. Underwriting Information

The Company has a single reportable segment and offers primarily earthquake, wind, inland marine, and flood insurance products. Gross written premiums (“GWP”) by product are presented below:

	Three Months Ended September 30,								Nine Months Ended September 30,
	2021				2020				2021				2020
	($ in thousands)								($ in thousands)
			% of				% of				% of				% of
	Amount		GWP		Amount		GWP		Amount		GWP		Amount		GWP
Product
Residential Earthquake	$	50,075	32.9	%	$	40,507	39.3	%	$	128,165	33.3	%	$	103,503	40.1	%
Commercial Earthquake		27,433	18.0	%		18,061	17.5	%		66,052	17.1	%		40,727	15.8	%
Specialty Homeowners		19,881	13.1	%		17,048	16.6	%		53,018	13.8	%		38,461	14.9	%
Inland Marine		19,532	12.8	%		4,406	4.3	%		39,047	10.1	%		9,747	3.8	%
Hawaii Hurricane		8,996	5.9	%		4,360	4.2	%		22,921	5.9	%		10,296	4.0	%
Commercial All Risk		6,867	4.5	%		12,467	12.1	%		30,032	7.8	%		39,765	15.4	%
Residential Flood		3,228	2.1	%		2,170	2.1	%		8,377	2.2	%		5,728	2.2	%
Other		16,320	10.7	%		3,948	3.9	%		37,655	9.8	%		10,041	3.8	%
Total Gross Written Premiums	$	152,332	100.0	%	$	102,967	100.0	%	$	385,267	100.0	%	$	258,268	100.0	%

Gross written premiums by state are as follows:

	Three Months Ended September 30,								Nine Months Ended September 30,
	2021				2020				2021				2020
	($ in thousands)								($ in thousands)
			% of				% of				% of				% of
	Amount		GWP		Amount		GWP		Amount		GWP		Amount		GWP
State
California	$	72,505	47.6	%	$	52,960	51.4	%	$	180,142	46.8	%	$	124,131	48.1	%
Texas		19,715	13.0	%		20,460	19.9	%		48,142	12.5	%		55,047	21.3	%
Hawaii		10,342	6.8	%		5,097	5.0	%		26,312	6.8	%		11,990	4.6	%
Florida		7,203	4.7	%		685	0.7	%		24,958	6.5	%		685	0.3	%
Washington		7,180	4.7	%		4,340	4.2	%		15,931	4.1	%		10,002	3.9	%
Oregon		3,964	2.6	%		2,912	2.8	%		9,686	2.5	%		7,298	2.8	%
North Carolina		3,719	2.4	%		2,839	2.8	%		11,871	3.1	%		7,131	2.8	%
Illinois		2,893	1.9	%		1,575	1.5	%		8,668	2.2	%		4,416	1.7	%
Other		24,811	16.3	%		12,099	11.7	%		59,557	15.5	%		37,568	14.5	%
Total Gross Written Premiums	$	152,332	100.0	%	$	102,967	100.0	%	$	385,267	100.0	%	$	258,268	100.0	%

Gross written premiums by insurance subsidiary are as follows:

	Three Months Ended September 30,								Nine Months Ended September 30,
	2021				2020				2021				2020
	($ in thousands)								($ in thousands)
			% of				% of				% of				% of
	Amount		GWP		Amount		GWP		Amount		GWP		Amount		GWP
Subsidiary
PSIC	$	110,875	72.8	%	$	93,987	91.3	%	$	285,991	74.2	%	$	249,288	96.5	%
PESIC		41,457	27.2	%		8,980	8.7	%		99,276	25.8	%		8,980	3.5	%
Total Gross Written Premiums	$	152,332	100.0	%	$	102,967	100.0	%	$	385,267	100.0	%	$	258,268	100.0	%