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Reserves for Unpaid Losses and Loss Adjustment Expenses (Tables)
 12 Months Ended
Dec. 31, 2025
Insurance [Abstract]  
Schedule of Unpaid Losses and Loss Adjustment Expenses
The following table presents reserves for unpaid losses and loss adjustment expenses as of December 31, 2025 and 2024:

December 31,
20252024
in thousands
Case reserves$90,992 $94,489 
IBNR72,215 68,234 
Net reserves for unpaid losses and loss adjustment expenses163,207 162,723 
Reinsurance recoverable on unpaid losses and loss adjustment expenses5,644 5,769 
Gross reserves for unpaid losses and loss adjustment expenses$168,851 $168,492 
The following table presents a reconciliation of the beginning and ending reserves for unpaid losses and loss adjustment expenses, net of amounts recoverable from various reinsurers:

Year ended December 31,
202520242023
in thousands
Gross reserves for unpaid losses and loss adjustment expenses, beginning$168,492 $136,507 $111,741 
Less: Reinsurance recoverable on unpaid losses and loss adjustment expenses5,769 2,235 843 
Net reserves for unpaid losses and loss adjustment expenses, beginning
162,723 134,272 110,898 
Incurred losses and loss adjustment expenses:
Current accident year295,481 299,918 228,358 
Prior accident years(10,087)(1,325)(7,700)
Total incurred losses and loss adjustment expenses285,394 298,593 220,658 
Payments:
Current accident year190,881 186,267 138,263 
Prior accident years94,244 83,660 59,128 
Total payments285,125 269,927 197,391 
Effect of foreign currency rate changes215 (215)107 
Net reserves for unpaid losses and loss adjustment expenses, ending
163,207 162,723 134,272 
Reinsurance recoverable on unpaid losses and loss adjustment expenses5,644 5,769 2,235 
Gross reserves for unpaid losses and loss adjustment expenses, ending
$168,851 $168,492 $136,507 
The following table presents a summary of total reserves for losses and loss adjustment expenses by line of business for the periods specified below:

December 31,
20252024
in thousands
Gross reserves for unpaid losses and loss adjustment expenses
Auto$168,522 $168,433 
Marine329 59 
Total gross reserves for unpaid losses and loss adjustment expenses
$168,851 $168,492 
Reinsurance recoverable on unpaid losses and loss adjustment expenses
Auto$5,644 $5,769 
Marine— — 
Total reinsurance recoverable on unpaid losses and loss adjustment expenses$5,644 $5,769 
Net reserves for unpaid losses and loss adjustment expenses
Auto$162,878 $162,664 
Marine329 59 
Total net reserves for unpaid losses and loss adjustment expenses$163,207 $162,723 
Schedule of Short-Duration Insurance Contracts, Claims Development
The following table presents auto insurance incurred losses and loss adjustment expenses, by accident year, undiscounted and net of reinsurance recoveries:

Reserves for Losses and Loss Adjustment Expenses Incurred But Not Reported
Cumulative Number of Reported Claims
Reporting Years Ended December 31,
Accident Year
2021*
2022*
2023*
2024*
2025
As of December 31, 2025
dollars in thousands
2021$131,643 $129,259 $125,634 $125,434 $125,834 $683 35,529 
2022186,073 182,783 179,096 180,218 2,379 39,488 
2023228,071 231,209 232,748 5,205 42,459 
2024299,766 286,194 15,098 43,735 
2025295,130 47,149 39,860 
Total1,120,124 70,514 201,071 
Cumulative paid losses and loss adjustment expenses from the table below
(959,584)— 
Reserves for losses and loss adjustment expenses before 2021, net of reinsurance
2,247 1,478 
Cumulative effect of foreign currency rate changes91 — 
Reserves for losses and loss adjustment expenses, undiscounted and net of reinsurance
$162,878 $71,992 
*    Unaudited required supplemental information.

The following table presents auto insurance cumulative paid losses and loss adjustment expenses by accident year:
As of December 31,
Accident Year
2021*
2022*
2023*
2024*
2025
in thousands
2021$75,933 $105,475 $114,884 $120,094 $123,029 
2022109,255 155,157 167,200 174,400 
2023138,102 202,501 219,217 
2024186,165 252,153 
2025190,785 
Total$959,584 
*    Unaudited required supplemental information.
Schedule of Short-Duration Insurance Contracts, Schedule of Historical Claims Duration
The following table presents supplementary information about average historical claims duration as of December 31, 2025 based on the cumulative incurred and paid losses and allocated loss adjustment expenses presented above:

Average Annual Percentage of Payout of Incurred Claims by Age (in Years), Net of Reinsurance (Unaudited)
YearsYear 1Year 2Year 3Year 4Year 5
Auto Insurance62.0 %24.3 %6.5 %3.4 %1.7 %