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Reinsurance (Tables) | 12 Months Ended
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Dec. 31, 2025
Insurance [Abstract] |
Schedule of Reinsurance recoverable | Amounts recoverable from reinsurers are recognized in a manner consistent with the claims liabilities associated with the reinsurance placement and presented on the balance sheet as reinsurance recoverable. Such balance as of December 31, 2025 and 2024 are presented in the table below ($ in millions).
| December 31,
| 2025 |  | 2024
Reinsurance recoverable on paid losses | $ | 19.6 |  |  | $ | 20.9 |
Ceded unpaid loss and LAE | 133.8 |  |  | 149.5 |
Total reinsurance recoverable | $ | 153.4 |  |  | $ | 170.4 |
The Company has the following unsecured reinsurance recoverable balances from reinsurers at December 31, 2025 and 2024 with a majority of the reinsurers having A.M. Best rating of A (Excellent) or better ($ in millions):
AM Best Rating |  |  |  | December 31,
| Reinsurer |  | 2025 |  | 2024
A+ |  | Hannover Rueck SE |  | $ | 48.9 |  |  | $ | 104.0 |
A |  | MAPFRE Re, Compania De Reaseguros S.A. |  | 29.3 |  |  | 34.0 |
A+ |  | Swiss Reinsurance America Corporation |  | 13.2 |  |  | 26.3 |
A+ |  | Aviva Insurance Limited |  | 8.9 |  |  | 2.7 |
NR |  | Lloyd's Underwriter Syndicate no. 2791 MAP |  | 1.2 |  |  | 2.1 |
A++ |  | Tokio Marine & Nichido Fire Insurance Company Limited |  | 1.2 |  |  | 1.9 |
NR |  | Lloyd's Underwriter Syndicate no. 1084 CSL |  | 0.7 |  |  | 1.1 |
A++ |  | The Travellers Indemnity Company |  | 0.1 |  |  | 0.4 |
A+ |  | Odyssey Reinsurance Company |  | 0.1 |  |  | 0.2 |
A+ |  | Lloyd's Underwriter Syndicate No. 2001 AML |  | 0.1 |  |  | 0.2 |
|  |  |  | $ | 103.7 |  |  | $ | 172.9 |
|  | Other reinsurers |  | 0.2 |  |  | 0.4 |
|  |  |  | $ | 103.9 |  |  | $ | 173.3 |
Schedule of Impact of reinsurance | The impact of reinsurance treaties on the Company's consolidated statements of operations and comprehensive income (loss) is as follows ($ in millions):
| December 31,
| 2025 |  | 2024 |  | 2023
Premium written: |  |  |  |  |
Direct | $ | 1,142.0 |  |  | $ | 916.4 |  |  | $ | 730.9 |
Assumed | 29.3 |  |  | 12.6 |  |  | 7.5 |
Ceded | (407.8) |  |  | (513.9) |  |  | (389.1) |
Net premium written | $ | 763.5 |  |  | $ | 415.1 |  |  | $ | 349.3 |
Premium earned: |  |  |  |  |
Direct | $ | 1,026.8 |  |  | $ | 815.9 |  |  | $ | 667.2 |
Assumed | 24.0 |  |  | 11.4 |  |  | 5.1 |
Ceded | (514.5) |  |  | (456.7) |  |  | (357.1) |
Net premium earned | $ | 536.3 |  |  | $ | 370.6 |  |  | $ | 315.2 |
Loss and LAE incurred: |  |  |  |  |
Direct | $ | 650.2 |  |  | $ | 593.3 |  |  | $ | 563.4 |
Assumed | 21.8 |  |  | 11.7 |  |  | 6.0 |
Ceded | (325.0) |  |  | (328.0) |  |  | (289.0) |
Net loss and LAE incurred | $ | 347.0 |  |  | $ | 277.0 |  |  | $ | 280.4 |

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- Definition Tabular disclosure of the effects of reinsurance, for example, but not limited to, disclosure of direct, assumed, and ceded insurance. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479838/944-20-50-1 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 605 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479032/944-605-50-1 + Details
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- Definition Tabular disclosure of reinsurer or group of reinsurers for whom the entity has a concentration of credit risk. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 1B -SubTopic 825 -Topic 944 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477351/944-825-50-1B + Details
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