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Allowance for Expected Credit Losses (Tables) | 9 Months Ended
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Sep. 30, 2025
Credit Loss [Abstract] |
Premiums receivable | The following table provides a roll forward of the allowance for expected credit losses of the Company’s premium receivables:
| Premium Receivables, Net of Allowance | Allowance for Expected Credit Losses |
Three Months Ended September 30, 2025 |  |
Balance at beginning of period | $ | 7,067 |  | $ | 46 |  |
Change for provision of expected credit losses (1) | 8 |  |
Balance at end of period | $ | 6,450 |  | $ | 54 |  |
Three Months Ended September 30, 2024 |  |
Balance at beginning of period | $ | 6,268 |  | $ | 36 |  |
Provision on business acquired (2) |  | 16 |  |
Change for provision of expected credit losses (1) | — |  |
Balance at end of period | $ | 6,364 |  | $ | 52 |  |
Nine Months Ended September 30, 2025 |  |  |
Balance at beginning of year | $ | 5,634 |  | $ | 45 |  |
Change for provision of expected credit losses (1) | 9 |  |
Balance at end of period | $ | 6,450 |  | $ | 54 |  |
Nine Months Ended September 30, 2024 |  |  |
Balance at beginning of year | $ | 4,644 |  | $ | 34 |  |
Provision on business acquired (2) |  | 16 |  |
Change for provision of expected credit losses (1) | 2 |  |
Balance at end of period | $ | 6,364 |  | $ | 52 |  |
(1) Amounts deemed uncollectible are written-off in operating expenses. For the 2025 third quarter and 2024 third quarter, amounts written off were nil and $1 million, respectively. For the nine months ended September 30, 2025 and 2024 period, amounts written off were $1 million and $1 million, respectively. (2) Represents MCE’s provision for current expected credit losses on premiums receivable. See note 2.
Reinsurance recoverables | The following table provides a roll forward of the allowance for expected credit losses of the Company’s reinsurance recoverables:
| Reinsurance Recoverables, Net of Allowance |  | Allowance for Expected Credit Losses |
Three Months Ended September 30, 2025 |  |
Balance at beginning of period | $ | 9,044 |  |  | $ | 19 |  |
Change for provision of expected credit losses |  | — |  |
Balance at end of period | $ | 9,070 |  |  | $ | 19 |  |
Three Months Ended September 30, 2024 |  |
Balance at beginning of period | $ | 7,473 |  |  | $ | 20 |  |
Change for provision of expected credit losses |  | (3) |  |
Balance at end of period | $ | 7,948 |  |  | $ | 17 |  |
Nine Months Ended September 30, 2025 |  |  |  |
Balance at beginning of year | $ | 8,260 |  |  | $ | 17 |  |
Change for provision of expected credit losses |  | 2 |  |
Balance at end of period | $ | 9,070 |  |  | $ | 19 |  |
Nine Months Ended September 30, 2024 |  |  |  |
Balance at beginning of year | $ | 7,064 |  |  | $ | 21 |  |
Change for provision of expected credit losses |  | (4) |  |
Balance at end of period | $ | 7,948 |  |  | $ | 17 |  |
Ceded credit risk | The following table summarizes the Company’s reinsurance recoverables on paid and unpaid losses (not including ceded unearned premiums):
| September 30, |  | December 31,
| 2025 |  | 2024
Reinsurance recoverable on unpaid and paid losses and loss adjustment expenses | $ | 9,070 |  | $ | 8,260
% due from carriers with A.M. Best rating of “A-” or better | 63.8 | % |  | 63.8 | %
% due from all other rated carriers | 0.1 | % |  | — | %
% due from all other carriers with no A.M. Best rating (1) | 36.1 | % |  | 36.2 | %
Largest balance due from any one carrier as % of total shareholders’ equity | 7.8 | % |  | 7.8 | %
(1) At September 30, 2025 and December 31, 2024 over 95% of such amount were collateralized through reinsurance trusts, funds withheld arrangements, letters of credit or other.
Contractholder receivables | The following table provides a roll forward of the allowance for expected credit losses of the Company’s contractholder receivables:
| Contract-holder Receivables, Net of Allowance |  | Allowance for Expected Credit Losses |
Three Months Ended September 30, 2025 |  |
Balance at beginning of period | $ | 2,280 |  |  | $ | 6 |  |
Change for provision of expected credit losses |  | — |  |
Balance at end of period | $ | 2,287 |  |  | $ | 6 |  |
Three Months Ended September 30, 2024 |  |
Balance at beginning of period | $ | 2,016 |  |  | $ | 4 |  |
Change for provision of expected credit losses |  | — |  |
Balance at end of period | 2,078 |  |  | $ | 4 |  |
Nine Months Ended September 30, 2025 |  |  |  |
Balance at beginning of year | $ | 2,161 |  |  | $ | 5 |  |
Change for provision of expected credit losses |  | 1 |  |
Balance at end of period | $ | 2,287 |  |  | $ | 6 |  |
Nine Months Ended September 30, 2024 |  |  |  |
Balance at beginning of year | $ | 1,814 |  |  | $ | 3 |  |
Change for provision of expected credit losses |  | 1 |  |
Balance at end of period | 2,078 |  |  | $ | 4 |  |

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- Definition Tabular disclosure of allowance for credit loss on right to consideration in exchange for good or service transferred to customer when right is conditioned on something other than passage of time. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13 + Details
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- Definition Tabular disclosure of allowance for credit loss on premium receivable. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13 + Details
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- Definition Tabular disclosure of allowance for credit loss on reinsurance recoverable. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13 + Details
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- Definition Tabular disclosure of reinsurer or group of reinsurers for whom the entity has a concentration of credit risk. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 1B -SubTopic 825 -Topic 944 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477351/944-825-50-1B + Details
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