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Reinsurance - Summary of Premiums Earned and Losses Incurred (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2026 | Jun. 30, 2025 | Jun. 30, 2026 | Jun. 30, 2025
Premiums earned: |  |  |  |
Direct | $ 287,520 | $ 284,123 | $ 574,447 | $ 568,944
Assumed | 2,499 | 3,738 | 6,479 | 7,299
Ceded | (51,962) | (43,539) | (107,506) | (88,202)
Net premiums earned | 238,057 | 244,322 | 473,420 | 488,041
Losses incurred: |  |  |  |
Direct | 19,454 | 1,146 | 64,724 | 17,163
Assumed | (71) | (23) | (73) | (18)
Losses incurred, net | 10,986 | (2,835) | 44,228 | 6,756
Quota Share Reinsurance Transactions |  |  |  |
Premiums earned: |  |  |  |
Ceded | (35,590) | (28,101) | (73,359) | (58,044)
Losses incurred: |  |  |  |
Ceded | (8,397) | (3,958) | (20,423) | (10,389)
Profit commission on quota share reinsurance | 35,081 | 32,299 | 64,184 | 60,994
Ceding commission on quota share reinsurance | 14,135 | 12,081 | 27,509 | 23,808
Excess of Loss Reinsurance Transactions |  |  |  |
Premiums earned: |  |  |  |
Ceded | $ (16,372) | $ (15,438) | $ (34,147) | $ (30,158)

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