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Premiums and Reinsurance Related Information (Tables) | 9 Months Ended
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Sep. 30, 2024
Insurance [Abstract] |
Reinsurance Financial Information | The following is a summary of insurance and reinsurance financial information:
| For the Three Months Ended September 30, |  | For the Nine Months Ended September 30,
(In thousands) | 2024 |  | 2023 |  | 2024 |  | 2023
Written premiums: |  |  |  |  |  |  |
Direct | $ | 3,303,682 |  |  | $ | 3,037,932 |  |  | $ | 9,723,219 |  |  | $ | 8,762,249 |
Assumed | 329,596 |  |  | 315,273 |  |  | 990,587 |  |  | 977,047 |
Ceded | (576,002) |  |  | (504,746) |  |  | (1,678,460) |  |  | (1,504,497) |
Total net premiums written | $ | 3,057,276 |  |  | $ | 2,848,459 |  |  | $ | 9,035,346 |  |  | $ | 8,234,799 |
Earned premiums: |  |  |  |  |  |  |
Direct | $ | 3,141,883 |  |  | $ | 2,825,176 |  |  | $ | 9,127,399 |  |  | $ | 8,217,888 |
Assumed | 346,780 |  |  | 316,134 |  |  | 1,012,804 |  |  | 913,795 |
Ceded | (561,840) |  |  | (499,396) |  |  | (1,602,618) |  |  | (1,445,610) |
Total net premiums earned | $ | 2,926,823 |  |  | $ | 2,641,914 |  |  | $ | 8,537,585 |  |  | $ | 7,686,073 |
Ceded losses and loss expenses incurred | $ | 319,472 |  |  | $ | 320,995 |  |  | $ | 952,666 |  |  | $ | 970,267 |
Ceded commissions earned | $ | 129,916 |  |  | $ | 118,207 |  |  | $ | 374,618 |  |  | $ | 354,148 |
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 nine months ended September 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 | 2,961 |  |  | 2,942 |
Allowance for expected credit losses, end of period | $ | 38,071 |  |  | $ | 33,602 |
The following table presents the rollforward of the allowance for expected credit losses for premiums and fees receivable for the three months ended September 30, 2024 and 2023:
(In thousands) | 2024 |  | 2023 |  |
Allowance for expected credit losses, beginning of period | $ | 37,279 |  |  | $ | 32,770 |  |  |
Change in expected credit losses | 792 |  |  | 832 |  |  |
Allowance for expected credit losses, end of period | $ | 38,071 |  |  | $ | 33,602 |  |  |
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 nine months ended September 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 | (72) |  |  | 1,379 |  |  |
Allowance for expected credit losses, end of period | $ | 8,332 |  |  | $ | 9,443 |  |  |
The following table presents the rollforward of the allowance for expected credit losses associated with due from reinsurers for the three months ended September 30, 2024 and 2023:
(In thousands) | 2024 |  | 2023
Allowance for expected credit losses, beginning of period | $ | 10,255 |  |  | $ | 9,365 |
Change in expected credit losses | (1,923) |  |  | 78 |
Allowance for expected credit losses, end of period | $ | 8,332 |  |  | $ | 9,443 |

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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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