XML 35 R11.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Reserve for Losses and Loss Adjustment Expenses
6 Months Ended
Jun. 30, 2024
Insurance [Abstract]  
Reserve for Losses and Loss Adjustment Expenses Reserve for Losses and Loss Adjustment Expenses
The table below provides a reconciliation of the beginning and ending reserve balances for the six months ended June 30, 2024 and June 30, 2023:
June 30,
2024
June 30,
2023
($ in thousands)
Gross reserves for losses and loss adjustment expenses, beginning of year
$431,186 $207,051 
Reinsurance recoverable on unpaid losses, beginning of year
136,273 63,381 
Net reserves for unpaid losses and loss adjustment expenses, beginning of year
$294,913 $143,670 
Net incurred losses and loss adjustment expenses related to:
Current accident year113,338 70,411 
Prior accident years— 457 
113,338 70,868 
Net paid losses and loss adjustment expenses related to:
Current accident year874 532 
Prior accident years9,502 6,092 
10,376 6,624 
Net reserves for unpaid losses and loss adjustment expenses, end of period
$397,875 $207,914 
Reinsurance recoverable on unpaid losses, end of period190,030 93,588 
Gross reserves for losses and loss adjustment expenses, end of period
$587,905 $301,502 
During the six months ended June 30, 2024 and 2023, there was nil and $0.5 million of prior accident year unfavorable loss development, respectively.