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REINSURANCE
9 Months Ended
Sep. 30, 2023
Insurance [Abstract]  
REINSURANCE
REINSURANCE

The cost of reinsurance ceded totaled $46.7 million and $51.2 million in the third quarters of 2023 and 2022, respectively, and $144.7 million and $152.3 million in the first nine months of 2023 and 2022, respectively.  We deduct this cost from insurance policy income.  Reinsurance recoveries netted against insurance policy benefits totaled $98.3 million and $95.1 million in the third quarters of 2023 and 2022, respectively, and $320.1 million and $296.0 million in the first nine months of 2023 and 2022, respectively.

From time to time, we assume insurance from other companies.  Any costs associated with the assumption of insurance are amortized consistent with the method used to amortize deferred acquisition costs.  Reinsurance premiums assumed totaled $4.2 million and $4.7 million in the third quarters of 2023 and 2022, respectively, and $12.6 million and $14.2 million in the
first nine months of 2023 and 2022, respectively. Insurance policy benefits related to reinsurance assumed totaled $5.8 million and $7.2 million in the third quarters of 2023 and 2022, respectively, and $16.3 million and $19.7 million in the first nine months of 2023 and 2022, respectively.