YEARS ENDED DECEMBER 31

2025

2024

2023

(in millions)

Premiums written:

Direct

$

6,999.6

$

6,711.3

$

6,411.9

Assumed

23.0

21.6

21.0

Ceded

(700.5

)

(649.3

)

(622.7

)

Net premiums written

$

6,322.1

$

6,083.6

$

5,810.2

Premiums earned:

Direct

$

6,829.8

$

6,551.0

$

6,255.1

Assumed

22.9

21.5

37.4

Ceded

(691.6

)

(659.9

)

(629.4

)

Net premiums earned

$

6,161.1

$

5,912.6

$

5,663.1

Percentage of assumed to net premiums earned

0.4

%

0.4

%

0.7

%

Losses and LAE:

Direct

$

4,098.0

$

4,157.5

$

4,489.4

Assumed

19.5

19.0

42.5

Ceded

(388.2

)

(419.1

)

(397.3

)

Net losses and LAE

$

3,729.3

$

3,757.4

$

4,134.6