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v3.25.2

Reinsurance - Summary of Premiums Earned and Losses Incurred (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2025 | Jun. 30, 2024 | Jun. 30, 2025 | Jun. 30, 2024
Premiums earned: |  |  |  |
Direct | $ 284,123 | $ 283,363 | $ 568,944 | $ 567,384
Assumed | 3,738 | 3,377 | 7,299 | 6,819
Ceded | (43,539) | (43,212) | (88,202) | (88,031)
Net premiums earned | 244,322 | 243,528 | 488,041 | 486,172
Losses incurred: |  |  |  |
Direct | 1,146 | (14,196) | 17,163 | (3,217)
Assumed | (23) | (46) | (18) | (17)
Losses incurred, net | (2,835) | (18,272) | 6,756 | (13,717)
Quota Share Reinsurance Transactions |  |  |  |
Premiums earned: |  |  |  |
Ceded | (28,101) | (26,643) | (58,044) | (55,358)
Losses incurred: |  |  |  |
Ceded | (3,958) | (4,030) | (10,389) | (10,483)
Profit commission on quota share reinsurance | 32,299 | 27,301 | 60,994 | 51,885
Ceding commission on quota share reinsurance | 12,081 | 10,789 | 23,808 | 21,449
Excess of Loss Reinsurance Transactions |  |  |  |
Premiums earned: |  |  |  |
Ceded | $ (15,438) | $ (16,569) | $ (30,158) | $ (32,673)

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