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Reinsurance (Tables) | 9 Months Ended
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Sep. 30, 2024
Reinsurance Disclosures [Abstract] |
Effect Of Reinsurance And Retrocessional Reinsurance On Premiums Written And Earned | The following tables summarize the effect of reinsurance and retrocessional reinsurance on premiums written and earned.
| Quarter Ended September 30,
| 2024 |  | 2023
(dollars in thousands) | Direct |  | Assumed |  | Ceded |  | Net Premiums |  | Direct |  | Assumed |  | Ceded |  | Net Premiums
Underwriting: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Written | $ | 2,249,500 |  |  | $ | 282,089 |  |  | $ | (549,264) |  |  | $ | 1,982,325 |  |  | $ | 2,223,988 |  |  | $ | 282,070 |  |  | $ | (478,035) |  |  | $ | 2,028,023 |
Earned | $ | 2,206,453 |  |  | $ | 404,686 |  |  | $ | (500,842) |  |  | $ | 2,110,297 |  |  | $ | 2,127,244 |  |  | $ | 424,620 |  |  | $ | (429,901) |  |  | $ | 2,121,963 |
Program services and other fronting: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Written | 763,082 |  |  | 177,038 |  |  | (940,309) |  |  | (189) |  |  | 615,424 |  |  | 557,324 |  |  | (1,172,966) |  |  | (218) |
Earned | 721,786 |  |  | 530,688 |  |  | (1,252,663) |  |  | (189) |  |  | 669,544 |  |  | 313,079 |  |  | (982,841) |  |  | (218) |
Consolidated: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Written | $ | 3,012,582 |  |  | $ | 459,127 |  |  | $ | (1,489,573) |  |  | $ | 1,982,136 |  |  | $ | 2,839,412 |  |  | $ | 839,394 |  |  | $ | (1,651,001) |  |  | $ | 2,027,805 |
Earned | $ | 2,928,239 |  |  | $ | 935,374 |  |  | $ | (1,753,505) |  |  | $ | 2,110,108 |  |  | $ | 2,796,788 |  |  | $ | 737,699 |  |  | $ | (1,412,742) |  |  | $ | 2,121,745 |
| Nine Months Ended September 30,
| 2024 |  | 2023
(dollars in thousands) | Direct |  | Assumed |  | Ceded |  | Net Premiums |  | Direct |  | Assumed |  | Ceded |  | Net Premiums
Underwriting: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Written | $ | 6,713,503 |  |  | $ | 1,515,639 |  |  | $ | (1,735,668) |  |  | $ | 6,493,474 |  |  | $ | 6,479,090 |  |  | $ | 1,419,802 |  |  | $ | (1,444,626) |  |  | $ | 6,454,266 |
Earned | $ | 6,554,464 |  |  | $ | 1,212,116 |  |  | $ | (1,451,224) |  |  | $ | 6,315,356 |  |  | $ | 6,124,444 |  |  | $ | 1,247,743 |  |  | $ | (1,250,605) |  |  | $ | 6,121,582 |
Program services and other fronting: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Written | 2,451,180 |  |  | 1,443,916 |  |  | (3,895,618) |  |  | (522) |  |  | 2,012,806 |  |  | 991,305 |  |  | (3,005,101) |  |  | (990) |
Earned | 2,236,845 |  |  | 894,803 |  |  | (3,132,170) |  |  | (522) |  |  | 1,960,219 |  |  | 546,871 |  |  | (2,508,080) |  |  | (990) |
Consolidated: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Written | $ | 9,164,683 |  |  | $ | 2,959,555 |  |  | $ | (5,631,286) |  |  | $ | 6,492,952 |  |  | $ | 8,491,896 |  |  | $ | 2,411,107 |  |  | $ | (4,449,727) |  |  | $ | 6,453,276 |
Earned | $ | 8,791,309 |  |  | $ | 2,106,919 |  |  | $ | (4,583,394) |  |  | $ | 6,314,834 |  |  | $ | 8,084,663 |  |  | $ | 1,794,614 |  |  | $ | (3,758,685) |  |  | $ | 6,120,592 |
Effect Of Reinsurance And Retrocessional Reinsurance On Losses and Loss Adjustment Expenses | The following table summarizes the effect of reinsurance and retrocessional reinsurance on losses and loss adjustment expenses in the Company's underwriting operations.
| Quarter Ended September 30, |  | Nine Months Ended September 30,
(dollars in thousands) | 2024 |  | 2023 |  | 2024 |  | 2023
Gross losses and loss adjustment expenses | $ | 1,710,637 |  |  | $ | 1,684,389 |  |  | $ | 4,982,304 |  |  | $ | 4,552,926 |
Ceded losses and loss adjustment expenses | (419,194) |  |  | (278,945) |  |  | (1,170,585) |  |  | (786,876) |
Net losses and loss adjustment expenses | $ | 1,291,443 |  |  | $ | 1,405,444 |  |  | $ | 3,811,719 |  |  | $ | 3,766,050 |

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