Unpaid Losses and Loss Adjustment Reserve (Tables)

6 Months Ended

Jun. 30, 2024

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

Schedule of Changes in the Reserve Balances for Unpaid Losses and LAE, Gross of Reinsurance

The following table summarizes the changes in the reserve balances for unpaid losses and LAE, gross of reinsurance, for the six months ended June 30, 2024:

Reserve for unpaid losses and LAE at December 31, 2023	$	95,503
Reinsurance recoverables on losses and LAE at December 31, 2023	(19,808)
Reserve for unpaid losses and LAE reserve, net of reinsurance recoverables at December 31, 2023	75,695
Add provisions (reductions) for losses and LAE occurring in:
Current year	152,130
Prior years (1)	953
Net incurred losses and LAE during the current year	153,083
Deduct payments for losses and LAE occurring in:
Current year	(72,485)
Prior years (1)	(49,305)
Net claim and LAE payments during the current year	(121,790)
Reserve for losses and LAE, net of reinsurance recoverables at June 30, 2024	106,988
Reinsurance recoverables on losses and LAE at June 30, 2024	(26,232)
Reserve for unpaid losses and LAE at June 30, 2024	$	133,220

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(1)Also includes certain charges related to Vesttoo (see Note 10).