Insurance Reserves for Losses and Claims

9 Months Ended

Sep. 30, 2025

Insurance Reserves for Losses and Claims [Abstract]

Insurance Reserves for Losses and Claims

Note 7. Insurance Reserves for Losses and Claims

The roll-forward of insurance reserves for losses and claims for the nine months ended September 30, 2025 and 2024 is as follows:

	Nine Months Ended September 30,
	2025			2024
Beginning insurance reserves for losses and claims, gross	$	93,707		$	87,478
Less: Reinsurance recoverable on unpaid losses		(17,390	)		(14,678	)
Beginning insurance reserves for losses and claims, net		76,317			72,800
Incurred related to:
Current accident year		94,705			85,132
Prior accident year development		(378)	(1)		3,404	(2)
Total incurred		94,327			88,536
Paid related to:
Current accident year		44,487			40,786
Prior accident years		35,604			45,465
Total paid		80,091			86,251
Ending insurance reserves for losses and claims, net		90,553			75,085
Plus: Reinsurance recoverable on unpaid losses		17,160			16,779
Ending insurance reserves for losses and claims, gross	$	107,713		$	91,864

(1) Prior years’ development was primarily the result of favorable development in the Medicare supplement line of business in the life and health operations, partially offset by unfavorable development in the property and casualty operations predominately in the automobile liability line of business.

(2) Prior years’ development was primarily the result of unfavorable development in the property and casualty operations predominately in the automobile liability line of business due to inflationary factors.

Following is a reconciliation of total losses incurred to total insurance benefits and losses incurred:

	Nine Months Ended September 30,
	2025		2024
Total losses incurred	$	94,327	$	88,536
Cash surrender value and matured endowments		1,640		898
Benefit reserve changes		5,064		5,058
Total insurance benefits and losses incurred	$	101,031	$	94,492