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Loans Receivable
 6 Months Ended
Jun. 30, 2024
Receivables [Abstract]  
Loans Receivable Loans Receivable
At June 30, 2024 and December 31, 2023, loans receivable were as follows:
(In thousands)June 30,
2024		December 31,
2023
Amortized cost (net of allowance for expected credit losses):
Real estate loans$347,742 $200,381 
Commercial loans1,583 890 
Total$349,325 $201,271 
Fair value:
Real estate loans$347,727 $197,354 
Commercial loans1,583 890 
Total$349,310 $198,244 
The real estate loans are secured by commercial and residential real estate primarily located in the UK and New York. These loans generally earn interest at fixed or stepped interest rates and have maturities through 2026. The commercial loans are with small business owners who have secured the related financing with the assets of the business. Commercial loans primarily earn interest on a fixed basis and have varying maturities generally not exceeding 10 years.
The following table presents the rollforward of the allowance for expected credit losses for loans receivable for the six months ended June 30, 2024 and 2023:
20242023
(In thousands)Real Estate LoansCommercial LoansTotalReal Estate LoansCommercial LoansTotal
Allowance for expected credit losses, beginning of period$2,983 $21 $3,004 $1,100 $691 $1,791 
Change in expected credit losses(1,190)(1)(1,191)2,558 201 2,759 
Allowance for expected credit losses, end of period$1,793 $20 $1,813 $3,658 $892 $4,550 
During the six months ended June 30, 2024, the Company decreased the allowance for expected credit losses due to a decrease in the weighted average life of the loan portfolio. During the six months ended June 30, 2023, the Company increased the allowance for expected credit losses due to changes in economic assumptions utilized in its credit loss model.
The following table presents the rollforward of the allowance for expected credit losses for loans receivable for the three months ended June 30, 2024 and 2023:
20242023
(In thousands)Real Estate LoansCommercial LoansTotalReal Estate LoansCommercial LoansTotal
Allowance for expected credit losses, beginning of period$2,587 $22 $2,609 $1,039 $570 $1,609 
Change in expected credit losses(794)(2)(796)2,619 322 2,941 
Allowance for expected credit losses, end of period$1,793 $20 $1,813 $3,658 $892 $4,550 
The Company monitors the performance of its loans receivable and assesses the ability of the borrower to pay principal and interest based upon loan structure, underlying property values, cash flow and related financial and operating performance of the property and market conditions.
    In evaluating the real estate loans, the Company considers their credit quality indicators, including loan to value ratios, which compare the outstanding loan amount to the estimated value of the property, the borrower’s financial condition and performance with respect to loan terms, the position in the capital structure, the overall leverage in the capital structure and other market conditions.