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REINSURANCE
6 Months Ended
Jun. 30, 2024
Insurance [Abstract]  
REINSURANCE
REINSURANCE

The cost of reinsurance ceded totaled $46.6 million and $49.7 million in the second quarters of 2024 and 2023, respectively, and $92.6 million and $98.0 million in the first six months of 2024 and 2023, respectively.  We deduct this cost from insurance policy income.  Reinsurance recoveries netted against insurance policy benefits totaled $89.8 million and $86.9 million in the second quarters of 2024 and 2023, respectively, and $195.6 million and $221.8 million in the first six months of 2024 and 2023, 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 $3.8 million and $4.3 million in the second quarters of 2024 and 2023, respectively, and $7.9 million and $8.4 million in the first six months of 2024 and 2023, respectively. Insurance policy benefits related to reinsurance assumed totaled $7.1 million and $5.8 million in the second quarters of 2024 and 2023, respectively, and $13.0 million and $10.5 million in the first six months of 2024 and 2023, respectively.