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v3.23.1

REINSURANCE (Tables) | 3 Months Ended
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Mar. 31, 2023
SEC Schedule, 12-17, Insurance Companies, Reinsurance [Abstract] |
Schedule of Effect of Reinsurance and Retrocessional Activity on Premiums Written and Earned and on Net Claims and Claim Expenses Incurred | The following table sets forth the effect of reinsurance and retrocessional activity on premiums written and earned and on net claims and claim expenses incurred:
|  | Three months ended |  |  |
|  | March 31, 2023 |  | March 31, 2022 |  |  |  |  |
| Premiums Written |  |  |  |  |  |  |  |
| Direct | $ | 172,696 |  |  | $ | 301,105 |  |  |  |  |  |
| Assumed | 2,617,565 |  |  | 2,641,859 |  |  |  |  |  |
| Ceded | (526,558) |  |  | (777,747) |  |  |  |  |  |
| Net premiums written | $ | 2,263,703 |  |  | $ | 2,165,217 |  |  |  |  |  |
| Premiums Earned |  |  |  |  |  |  |  |
| Direct | $ | 254,019 |  |  | $ | 242,761 |  |  |  |  |  |
| Assumed | 1,843,669 |  |  | 1,690,268 |  |  |  |  |  |
| Ceded | (417,138) |  |  | (446,604) |  |  |  |  |  |
| Net premiums earned | $ | 1,680,550 |  |  | $ | 1,486,425 |  |  |  |  |  |
| Claims and Claim Expenses |  |  |  |  |  |  |  |
| Gross claims and claim expenses incurred | $ | 959,704 |  |  | $ | 1,017,555 |  |  |  |  |  |
| Claims and claim expenses recovered | (158,504) |  |  | (175,822) |  |  |  |  |  |
| Net claims and claim expenses incurred | $ | 801,200 |  |  | $ | 841,733 |  |  |  |  |  |
Schedule of Activity in the Allowance Recorded Against Premium Receivables | The following table provides a roll forward of the provision for current expected credit losses of the Company’s premiums receivable:
|  | Three months ended |  |  |
|  | March 31, 2023 |  | March 31, 2022 |  |  |  |  |
| Beginning balance | $ | 4,606 |  |  | $ | 2,776 |  |  |  |  |  |
| Provision for (release of) allowance | (1,235) |  |  | — |  |  |  |  |  |
| Ending balance | $ | 3,371 |  |  | $ | 2,776 |  |  |  |  |  |
Schedule of Activity in the Allowance Recorded Against Reinsurance Recoverable | The following table provides a roll forward of the provision for current expected credit losses of the Company’s reinsurance recoverable:
|  | Three months ended |  |  |
|  | March 31, 2023 |  | March 31, 2022 |  |  |  |  |
| Beginning balance | $ | 12,169 |  |  | $ | 8,344 |  |  |  |  |  |
| Provision for (release of) allowance | (665) |  |  | — |  |  |  |  |  |
| Ending balance | $ | 11,504 |  |  | $ | 8,344 |  |  |  |  |  |

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