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Premiums and Reinsurance Related Information | 9 Months Ended
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Sep. 30, 2025
Insurance [Abstract] |
Premiums and Reinsurance Related Information | Premiums and Reinsurance Related 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) | 2025 |  | 2024 |  | 2025 |  | 2024
Written premiums: |  |  |  |  |  |  |
Direct | $ | 3,483,768 |  |  | $ | 3,303,682 |  |  | $ | 10,405,445 |  |  | $ | 9,723,219 |
Assumed | 352,488 |  |  | 329,596 |  |  | 1,092,519 |  |  | 990,587 |
Ceded | (609,326) |  |  | (576,002) |  |  | (1,786,292) |  |  | (1,678,460) |
Total net premiums written | $ | 3,226,930 |  |  | $ | 3,057,276 |  |  | $ | 9,711,672 |  |  | $ | 9,035,346 |
Earned premiums: |  |  |  |  |  |  |
Direct | $ | 3,401,897 |  |  | $ | 3,141,883 |  |  | $ | 9,970,992 |  |  | $ | 9,127,399 |
Assumed | 352,745 |  |  | 346,780 |  |  | 1,028,862 |  |  | 1,012,804 |
Ceded | (598,260) |  |  | (561,840) |  |  | (1,732,906) |  |  | (1,602,618) |
Total net premiums earned | $ | 3,156,382 |  |  | $ | 2,926,823 |  |  | $ | 9,266,948 |  |  | $ | 8,537,585 |
Ceded losses and loss expenses incurred | $ | 286,799 |  |  | $ | 319,472 |  |  | $ | 955,974 |  |  | $ | 952,666 |
Ceded commissions earned | $ | 138,091 |  |  | $ | 129,916 |  |  | $ | 413,614 |  |  | $ | 374,618 |
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, 2025 and 2024:
(In thousands) | 2025 |  | 2024
Allowance for expected credit losses, beginning of period | $ | 39,884 |  |  | $ | 35,110 |
Change in expected credit losses | 41 |  |  | 2,961 |
Allowance for expected credit losses, end of period | $ | 39,925 |  |  | $ | 38,071 |
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, 2025 and 2024:
(In thousands) | 2025 |  | 2024
Allowance for expected credit losses, beginning of period | $ | 38,960 |  |  | $ | 37,279 |
Change in expected credit losses | 965 |  |  | 792 |
Allowance for expected credit losses, end of period | $ | 39,925 |  |  | $ | 38,071 |
The Company reinsures a portion of its insurance exposures in order to reduce its net liability on individual risks and catastrophe losses. The Company also cedes premiums to state assigned risk plans and captive insurance companies. Estimated amounts due from reinsurers are reported net of an allowance for expected credit losses. 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, 2025 and 2024:
(In thousands) | 2025 |  | 2024 |  |
Allowance for expected credit losses, beginning of period | $ | 8,350 |  |  | $ | 8,404 |  |  |
Change in expected credit losses | (1,751) |  |  | (72) |  |  |
Allowance for expected credit losses, end of period | $ | 6,599 |  |  | $ | 8,332 |  |  |
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, 2025 and 2024:
(In thousands) | 2025 |  | 2024 |  |
Allowance for expected credit losses, beginning of period | $ | 6,954 |  |  | $ | 10,255 |  |  |
Change in expected credit losses | (355) |  |  | (1,923) |  |  |
Allowance for expected credit losses, end of period | $ | 6,599 |  |  | $ | 8,332 |  |  |

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- Definition The entire disclosure pertaining to the existence, magnitude and information about insurance that has been ceded to or assumed from another insurance company, including the methodologies and assumptions used in determining recorded amounts. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 944 -SubTopic 605 -Name Accounting Standards Codification -Section 55 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477548/944-605-55-15 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 944 -SubTopic 605 -Name Accounting Standards Codification -Section 55 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477548/944-605-55-12 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479838/944-20-50-4 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 605 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479032/944-605-50-3 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479838/944-20-50-3 + Details
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