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REINSURANCE (Tables)
6 Months Ended
Jun. 30, 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 endedSix months ended
June 30,
2023
June 30,
2022
June 30,
2023
June 30,
2022
Premiums Written
Direct$278,695 $338,761 $451,391 $639,866 
Assumed2,372,926 2,125,878 4,990,491 4,767,737 
Ceded(455,818)(601,023)(982,376)(1,378,770)
Net premiums written$2,195,803 $1,863,616 $4,459,506 $4,028,833 
Premiums Earned
Direct$281,437 $278,609 $535,456 $521,370 
Assumed1,903,299 1,610,214 3,746,968 3,300,482 
Ceded(399,474)(432,440)(816,612)(879,044)
Net premiums earned$1,785,262 $1,456,383 $3,465,812 $2,942,808 
Claims and Claim Expenses
Gross claims and claim expenses incurred$1,089,656 $799,218 $2,049,360 $1,816,773 
Claims and claim expenses recovered(158,445)(92,979)(316,949)(268,801)
Net claims and claim expenses incurred$931,211 $706,239 $1,732,411 $1,547,972 
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 endedSix months ended
June 30, 2023June 30, 2022June 30, 2023June 30, 2022
Beginning balance$3,371 $2,776 $4,606 $2,776 
Provision for (release of) allowance(220)1,574 (1,455)1,574 
Ending balance$3,151 $4,350 $3,151 $4,350 
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 endedSix months ended
June 30, 2023June 30, 2022June 30, 2023June 30, 2022
Beginning balance$11,504 $8,344 $12,169 $8,344 
Provision for (release of) allowance(48)661 (713)661 
Ending balance$11,456 $9,005 $11,456 $9,005