LOSS AND LOSS ADJUSTMENT EXPENSE RESERVES (Tables)

9 Months Ended

Sep. 30, 2024

Insurance [Abstract]

Schedule of Reconciliation of Reserve Balances for Loss and LAE, Net of Reinsurance

The following provides a reconciliation of the beginning and ending reserve balances for loss and LAE, net of reinsurance:

	Nine Months Ended September 30,
	2024		2023
	(dollars in millions)
Gross loss and LAE reserves, January 1	$	284.2	$	287.4
Reinsurance recoverable on unpaid losses	(43.8)		(76.4)
Net loss and LAE reserves, January 1	240.4		211.0
Net incurred loss and LAE related to:
Current year	549.1		209.2
Prior years	(7.9)		(0.6)
Total incurred	541.2		208.6
Net paid loss and LAE related to:
Current year	293.2		87.4
Prior years	146.3		117.3
Total paid	439.5		204.7
Net loss and LAE reserves, September 30	342.1		214.9
Plus reinsurance recoverable on unpaid losses	50.3		41.6
Gross loss and LAE reserves, September 30	$	392.4	$	256.5