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Premiums and Reinsurance Related Information (Tables) | 6 Months Ended
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Jun. 30, 2024
Insurance [Abstract] |
Reinsurance Financial Information | The following is a summary of insurance and reinsurance financial information:
| For the Three Months Ended June 30, |  | For the Six Months Ended June 30,
(In thousands) | 2024 |  | 2023 |  | 2024 |  | 2023
Written premiums: |  |  |  |  |  |  |
Direct | $ | 3,380,470 |  |  | $ | 2,985,563 |  |  | $ | 6,419,537 |  |  | $ | 5,724,317 |
Assumed | 337,302 |  |  | 351,210 |  |  | 660,991 |  |  | 661,773 |
Ceded | (590,993) |  |  | (525,258) |  |  | (1,102,458) |  |  | (999,751) |
Total net premiums written | $ | 3,126,779 |  |  | $ | 2,811,515 |  |  | $ | 5,978,070 |  |  | $ | 5,386,339 |
Earned premiums: |  |  |  |  |  |  |
Direct | $ | 3,048,872 |  |  | $ | 2,725,650 |  |  | $ | 5,985,516 |  |  | $ | 5,392,712 |
Assumed | 328,114 |  |  | 302,431 |  |  | 666,024 |  |  | 597,661 |
Ceded | (530,571) |  |  | (475,354) |  |  | (1,040,778) |  |  | (946,214) |
Total net premiums earned | $ | 2,846,415 |  |  | $ | 2,552,727 |  |  | $ | 5,610,762 |  |  | $ | 5,044,159 |
Ceded losses and loss expenses incurred | $ | 327,243 |  |  | $ | 333,795 |  |  | $ | 633,194 |  |  | $ | 649,271 |
Ceded commissions earned | $ | 123,647 |  |  | $ | 117,523 |  |  | $ | 244,701 |  |  | $ | 235,941 |
Premium receivable, allowance for credit loss | The following table presents the rollforward of the allowance for expected credit losses for premiums and fees receivable for the six months ended June 30, 2024 and 2023:
(In thousands) | 2024 |  | 2023
Allowance for expected credit losses, beginning of period | $ | 35,110 |  |  | $ | 30,660 |
Change in expected credit losses | 2,169 |  |  | 2,110 |
Allowance for expected credit losses, end of period | $ | 37,279 |  |  | $ | 32,770 |
The following table presents the rollforward of the allowance for expected credit losses for premiums and fees receivable for the three months ended June 30, 2024 and 2023:
(In thousands) | 2024 |  | 2023 |  |
Allowance for expected credit losses, beginning of period | $ | 35,039 |  |  | $ | 32,353 |  |  |
Change in expected credit losses | 2,240 |  |  | 417 |  |  |
Allowance for expected credit losses, end of period | $ | 37,279 |  |  | $ | 32,770 |  |  |
Reinsurance Recoverable, Allowance for Credit Loss | The following table presents the rollforward of the allowance for expected credit losses associated with due from reinsurers for the six months ended June 30, 2024 and 2023:
(In thousands) | 2024 |  | 2023 |  |
Allowance for expected credit losses, beginning of period | $ | 8,404 |  |  | $ | 8,064 |  |  |
Change in expected credit losses | 1,851 |  |  | 1,301 |  |  |
Allowance for expected credit losses, end of period | $ | 10,255 |  |  | $ | 9,365 |  |  |
The following table presents the rollforward of the allowance for expected credit losses associated with due from reinsurers for the three months ended June 30, 2024 and 2023:
(In thousands) | 2024 |  | 2023
Allowance for expected credit losses, beginning of period | $ | 9,185 |  |  | $ | 8,703 |
Change in expected credit losses | 1,070 |  |  | 662 |
Allowance for expected credit losses, end of period | $ | 10,255 |  |  | $ | 9,365 |

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- Definition Tabular disclosure of the effects of reinsurance, for example, but not limited to, disclosure of direct, assumed, and ceded insurance. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 605 -Topic 944 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479655/944-605-50-1 + 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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