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Reinsurance (Tables)
 12 Months Ended
Dec. 31, 2023
Reinsurance Disclosures [Abstract]  
Reinsurance Recoverable, Credit Quality Indicator
December 31, 2023
($ in thousands)CurrentPast DueTotal Reinsurance Recoverables
Financial strength rating of rated reinsurers
A++$82,466 $21 $82,487 
A+371,132 2,887 374,019 
A111,883 1,380 113,263 
A-3,596 89 3,685 
Total rated reinsurers$569,077 $4,377 $573,454 
Non-rated reinsurers
Federal and state pools$80,506 $— $80,506 
Other than federal and state pools4,488 77 4,565 
Total non-rated reinsurers$84,994 $77 $85,071 
Total reinsurance recoverable, gross$654,071 $4,454 $658,525 
Less: ACL(1,700)
Total reinsurance recoverable, net$656,825 

December 31, 2022
($ in thousands)CurrentPast DueTotal Reinsurance Recoverables
Financial strength rating of rated reinsurers
A++$46,282 $1 $46,283 
A+425,395 3,191 428,586 
A106,102 1,315 107,417 
A-7,148 89 7,237 
Total rated reinsurers$584,927 $4,596 $589,523 
Non-rated reinsurers
Federal and state pools$180,794 $— $180,794 
Other than federal and state pools13,678 415 14,093 
Total non-rated reinsurers$194,472 $415 $194,887 
Total reinsurance recoverable, gross$779,399 $5,011 $784,410 
Less: ACL(1,600)
Total reinsurance recoverable, net$782,810 
Reinsurance Recoverable, Allowance for Credit Loss
($ in thousands)December 31, 2023December 31, 2022
Balance at beginning of year$1,600 $1,600 
Current period change for expected credit losses100 — 
Write-offs charged against the allowance for credit losses— — 
Recoveries— — 
ACL, end of year$1,700 $1,600 

For a discussion of the methodology used to evaluate our estimate of expected credit losses on our reinsurance recoverable balance, refer to Note 2. "Summary of Significant Accounting Policies."
Schedule of Total Reinsurance Balances Segregated By Reinsurer
 December 31, 2023As of December 31, 2022
($ in thousands)Reinsurance Balances% of Reinsurance BalanceReinsurance Balances% of Reinsurance Balance
Total reinsurance recoverables, net of allowance for credit losses$656,825  $782,810  
Total prepaid reinsurance premiums203,320  172,371  
Total reinsurance balance860,145  955,181  
Federal and state pools1:
    
NFIP203,273 24 %276,541 29 %
New Jersey Unsatisfied Claim Judgment Fund46,715 5 45,496 5 
Other1,779 — 3,488 — 
Total federal and state pools251,767 29 325,525 34 
Remaining reinsurance balance$608,378 71 $629,656 66 
Hannover Ruckversicherungs AG (AM Best rated "A+")
$135,564 16 $124,706 13 
Munich Re Group (AM Best rated "A+")
132,831 15 127,106 13 
AXIS Reinsurance Company (AM Best rated "A")76,286 9 70,957 8 
Swiss Re Group (AM Best rated "A+")30,222 4 36,525 4 
Transatlantic Reinsurance Company (AM Best rated “A++”)
27,475 3 32,730 3 
All other reinsurers207,700 24 239,232 25 
   Total reinsurers610,078 71 %631,256 66 %
Less: ACL(1,700)(1,600)
Reinsurers, net of ACL608,378 629,656 
Less: collateral2
(126,418)(126,167)
   Reinsurers, net of collateral$481,960 $503,489 
 1Considered to have minimal risk of default.
2Includes letters of credit, trust funds, and funds held against reinsurance recoverables.
Schedule of List Of Direct, Assumed, And Ceded Reinsurance Amounts
($ in thousands)202320222021
Premiums written:   
Direct$4,725,459 4,068,518 3,656,537 
Assumed23,999 32,320 22,664 
Ceded(614,926)(527,248)(489,488)
Net$4,134,532 3,573,590 3,189,713 
Premiums earned:   
Direct$4,386,556 3,880,522 3,472,715 
Assumed25,027 30,742 21,550 
Ceded(583,977)(537,884)(477,012)
Net$3,827,606 3,373,380 3,017,253 
Loss and loss expense incurred:   
Direct$2,738,301 2,537,638 2,096,512 
Assumed19,581 23,160 13,813 
Ceded(273,597)(449,020)(296,341)
Net$2,484,285 2,111,778 1,813,984 
Schedule of Ceded Premiums and Losses Related to Flood Operations
Ceded to NFIP ($ in thousands)202320222021
Ceded premiums written$(305,609)(259,246)(284,311)
Ceded premiums earned(279,087)(274,100)(274,384)
Ceded loss and loss expense incurred(75,549)(200,467)(215,224)