REINSURANCE (Tables)

9 Months Ended

Sep. 30, 2024

Insurance [Abstract]

Schedule of Comprehensive Income (Loss) For Reinsurance

The following table reflects amounts affecting the condensed consolidated statements of operations and comprehensive income (loss) for reinsurance for the three and nine months ended September 30, 2024 and 2023:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
	(dollars in millions)
Premiums written:
Direct	$	270.9	$	192.7	$	793.9	$	444.6
Assumed	60.8		31.5		176.7		59.3
Ceded	(27.1)		(22.3)		(118.4)		(159.4)
Net premiums written	$	304.6	$	201.9	$	852.2	$	344.5
Premiums earned:
Direct	$	258.6	$	141.6	$	739.7	$	381.9
Assumed	58.4		18.2		160.3		39.5
Ceded	(37.7)		(59.8)		(128.8)		(197.5)
Net premiums earned	$	279.3	$	100.0	$	771.2	$	223.9
Losses and LAE incurred:
Direct	$	168.2	$	106.8	$	504.0	$	297.1
Assumed	39.1		13.4		115.7		29.8
Ceded	(22.8)		(34.4)		(78.5)		(118.3)
Net losses and LAE incurred	$	184.5	$	85.8	$	541.2	$	208.6

Gross premiums written by state is as follows for the three and nine months ended September 30, 2024 and 2023:

	Three Months Ended September 30,								Nine Months Ended September 30,
	2024				2023				2024				2023
	Amount		% of Total		Amount		% of Total		Amount		% of Total		Amount		% of Total
	(dollars in millions)
State:
Texas	$	63.6	19.2	%	$	36.8	16.4	%	$	186.9	19.3	%	$	80.1	15.9	%
Georgia	38.6		11.6		26.3		11.7		119.1		12.3		56.0		11.1
Florida	27.6		8.3		2.9		1.3		71.6		7.4		6.7		1.3
Colorado	19.3		5.8		15.3		6.8		54.8		5.6		37.8		7.5
Pennsylvania	19.1		5.8		12.1		5.4		54.4		5.6		29.0		5.8
South Carolina	14.5		4.4		11.8		5.3		46.1		4.7		28.6		5.7
Arizona	12.1		3.6		11.0		4.9		38.7		4.0		21.7		4.3
California	15.7		4.7		2.1		0.9		29.8		3.1		5.4		1.1
Ohio	9.0		2.7		8.4		3.7		29.1		3.0		16.9		3.4
Maryland	8.4		2.5		6.7		3.0		26.3		2.7		13.0		2.6
All others states	103.8		31.4		90.8		40.6		313.8		32.3		208.7		41.3
Total	$	331.7	100.0	%	$	224.2	100.0	%	$	970.6	100.0	%	$	503.9	100.0	%