Underwriting Information

9 Months Ended

Sep. 30, 2022

Underwriting Information

Underwriting Information

7. Underwriting Information

The Company has a single reportable segment and offers primarily property and casualty insurance products. The Company also writes premiums under fronting agreements where it cedes the majority of the premium and risk in exchange for a fronting fee. Gross written premiums (“GWP”) by product are presented below:

	Three Months Ended September 30,								Nine Months Ended September 30,
	2022				2021				2022				2021
	($ in thousands)								($ in thousands)
			% of				% of				% of				% of
	Amount		GWP		Amount		GWP		Amount		GWP		Amount		GWP
Product
Fronting Premiums	$	82,232	32.5	%	$	—	0.0	%	$	154,232	24.0	%	$	—	0.0	%
Residential Earthquake		59,569	23.5	%		50,075	32.9	%		159,995	24.9	%		128,165	33.3	%
Commercial Earthquake		32,647	12.9	%		27,433	18.0	%		90,894	14.1	%		66,052	17.1	%
Inland Marine		30,842	12.2	%		19,532	12.8	%		72,214	11.2	%		39,047	10.1	%
Casualty		12,888	5.1	%		2,868	1.9	%		25,697	4.0	%		5,504	1.4	%
Hawaii Hurricane		9,425	3.7	%		8,996	5.9	%		24,579	3.8	%		22,921	6.0	%
Commercial All Risk		9,224	3.6	%		6,867	4.5	%		41,647	6.5	%		30,032	7.8	%
Residential Flood		3,871	1.5	%		3,228	2.1	%		10,448	1.6	%		8,377	2.2	%
Specialty Homeowners		(94)	(0.0)	%		19,881	13.1	%		30,082	4.7	%		53,018	13.8	%
Other		12,524	5.0	%		13,452	8.8	%		32,963	5.1	%		32,151	8.4	%
Total Gross Written Premiums	$	253,128	100.0	%	$	152,332	100.0	%	$	642,751	100.0	%	$	385,267	100.0	%

Gross written premiums by state are as follows:

	Three Months Ended September 30,								Nine Months Ended September 30,
	2022				2021				2022				2021
	($ in thousands)								($ in thousands)
			% of				% of				% of				% of
	Amount		GWP		Amount		GWP		Amount		GWP		Amount		GWP
State
California	$	131,016	51.8	%	$	72,505	47.6	%	$	292,865	45.6	%	$	180,142	46.8	%
Texas		26,234	10.4	%		19,715	13.0	%		71,499	11.1	%		48,142	12.5	%
Washington		13,573	5.4	%		7,180	4.7	%		29,391	4.6	%		15,931	4.1	%
Hawaii		10,998	4.3	%		10,342	6.8	%		29,729	4.6	%		26,312	6.8	%
Oregon		7,738	3.1	%		3,964	2.6	%		16,483	2.6	%		9,686	2.5	%
Florida		7,445	2.9	%		7,203	4.7	%		27,216	4.2	%		24,958	6.5	%
Illinois		4,204	1.7	%		2,893	1.9	%		13,153	2.1	%		8,668	2.3	%
New York		3,738	1.5	%		618	0.4	%		8,401	1.3	%		1,273	0.3	%
Other		48,182	19.0	%		27,912	18.3	%		154,014	24.0	%		70,155	18.2	%
Total Gross Written Premiums	$	253,128	100.0	%	$	152,332	100.0	%	$	642,751	100.0	%	$	385,267	100.0	%

Gross written premiums by insurance subsidiary are as follows:

	Three Months Ended September 30,								Nine Months Ended September 30,
	2022				2021				2022				2021
	($ in thousands)								($ in thousands)
			% of				% of				% of				% of
	Amount		GWP		Amount		GWP		Amount		GWP		Amount		GWP
Subsidiary
PSIC	$	136,814	54.0	%	$	110,875	72.8	%	$	357,156	55.6	%	$	285,991	74.2	%
PESIC		116,314	46.0	%		41,457	27.2	%		285,595	44.4	%		99,276	25.8	%
Total Gross Written Premiums	$	253,128	100.0	%	$	152,332	100.0	%	$	642,751	100.0	%	$	385,267	100.0	%