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Reinsurance and Insurance Loss Reserves
6 Months Ended
Sep. 27, 2025
Insurance [Abstract]  
Reinsurance and Insurance Loss Reserves Reinsurance and Insurance Loss Reserves
Certain of Standard Casualty Company's premiums and benefits are assumed from and ceded to other insurance companies under various reinsurance agreements. We remain obligated for amounts ceded in the event that the reinsurers do not meet their obligations.
The effects of reinsurance on premiums written and earned were as follows (in thousands):

Three Months Ended
September 27, 2025September 28, 2024
WrittenEarnedWrittenEarned
Direct premiums
$9,292 $11,184 $9,380 $12,177 
Assumed premiums—nonaffiliated
11,716 10,963 11,303 10,095 
Ceded premiums—nonaffiliated
(7,654)(7,654)(8,880)(8,880)

$13,354 $14,493 $11,803 $13,392 
Six Months Ended
September 27, 2025September 28, 2024
WrittenEarnedWrittenEarned
Direct premiums
$21,443 $22,716 $22,883 $24,479 
Assumed premiums—nonaffiliated
23,198 21,833 23,038 19,599 
Ceded premiums—nonaffiliated
(15,364)(15,364)(17,065)(17,065)

$29,277 $29,185 $28,856 $27,013 
Typical insurance policies written or assumed have a maximum coverage of $0.4 million per claim, of which we cede $0.2 million of the risk of loss per reinsurance. Therefore, our risk of loss is limited to $0.3 million per claim on typical policies, subject to the reinsurers meeting their obligations. After this limit, amounts are recoverable through reinsurance for catastrophic losses in excess of $4.0 million per occurrence, up to a maximum of $90 million in the aggregate for that occurrence.
The following details the activity in the incurred but not reported reserve for the three and six months ended September 27, 2025 and September 28, 2024 (in thousands):
Three Months EndedSix Months Ended
September 27,
2025
September 28,
2024
September 27,
2025
September 28,
2024
Balance at beginning of period$13,118 $18,927 $16,201 $10,540 
Net incurred losses during the period7,782 14,128 18,885 32,091 
Net claim payments during the period(10,640)(18,435)(24,826)(28,011)
Balance at end of period$10,260 $14,620 $10,260 $14,620