Insurance Contracts (Tables)

3 Months Ended

Mar. 31, 2025

Insurance [Line Items]

Schedule of Loss And Loss Expense Reserves And Subrogation Recoverable Table [Table Text Block]

Premium Receivable, Allowance for Credit Loss [Table Text Block]

Three Months Ended March 31,	2025		2024
Beginning balance	$	142	$	—
Current period provision	—		—
Write-offs of the allowance	—		—
Recoveries of previously written-off amounts	—		—
Ending balance	$	142	$	—

At March 31, 2025 and December 31, 2024, $6,357 and $5,690 of premiums were past due.

Summary of Loss Reserve Roll-Forward, Net of Subrogation Recoverable and Reinsurance

Below is the loss and loss reserve expense roll-forward, net of subrogation recoverable and reinsurance, for the affected periods:

Three Months Ended March 31,	2025		2024
Beginning gross loss and loss expense reserves	$	349,062	$	197,089
Reinsurance recoverable	270,081		156,232
Beginning balance of net loss and loss expense reserves	78,981		40,857
Losses and loss expenses:
Current year	10,325		18,230
Prior years	171		1,125
Total (1)	10,496		19,355
Loss and loss expenses paid (recovered):
Current year	1,120		1,056
Prior years	10,172		5,034
Total	11,292		6,090
Ending net loss and loss expense reserves	78,185		54,122
Reinsurance recoverable (2)	294,920		182,892
Ending gross loss and loss expense reserves	$	373,105	$	237,014

(1)Total losses and loss adjustment expenses is net of $45,778 and $34,411 for the three months ended March 31, 2025 and 2024, respectively, related to ceded reinsurance.

(2)Represents reinsurance recoverable on future loss and loss expenses. Additionally, the Balance Sheet line "Reinsurance recoverable on paid and unpaid losses" includes reinsurance recoverables (payables) of $56,190 and $15,088 as of March 31, 2025 and 2024, respectively, related to previously presented loss and loss expenses and subrogation.

Prior accident years losses incurred development for the three months ended March 31, 2025 was nominal, whereas prior accident years looses incurred development for the three months ended March 31, 2024 was primarily driven by increased commercial and personal auto claim activity.

Effects of Reinsurance

The effect of reinsurance on premiums written and earned was as follows:

	Three Months Ended March 31,
	2025				2024
	Written		Earned		Written		Earned
Direct	$	77,191	$	80,446	$	79,234	$	61,336
Assumed	9,724		7,529		17,188		15,523
Ceded	68,911		72,297		70,175		51,280
Net premiums	$	18,004	$	15,678	$	26,247	$	25,579

Reinsurance Recoverable, Credit Quality Indicator

The following table sets forth our five most significant reinsurers by amount of reinsurance recoverable as of March 31, 2025.

Reinsurers	Rating  (1)	Reinsurance Recoverable (2)		Unsecured Recoverable (3)
General Reinsurance Company	A++	$	150,484	$	129,496
QBE Insurance Corporation	A	31,002		31,002
Munich Reinsurance Company	A+	28,184		18,894
Swiss Reinsurance America Corporation	A+	17,147		15,732
Guaranty Captive Insurance Company	NR	11,796		—
All other reinsurers		112,497		47,489
Total recoverables		$	351,110	$	242,613

(1)Represents financial strength ratings from AM Best for P&C reinsurers.

(2)Represents reinsurance recoverables on paid and unpaid losses. Unsecured amounts from QBE Insurance Corporation are also supported by an unlimited, uncapped indemnity from Enstar Holdings (US).

(3)Reinsurance recoverables reduced by ceded premiums payables due to reinsurers, letters of credit, and collateral posted for the benefit of Ambac.