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Underwriting Information | 12 Months Ended
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Dec. 31, 2022
Underwriting Information |
Underwriting Information | ​ 14. Underwriting Information The Company has a single reportable segment and offers primarily earthquake, fronting, inland marine, wind, casualty, and flood insurance products. Gross written premiums (“GWP”) by product are presented below:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31, |
​ | ​ | 2022 | ​ | 2021 |  | 2020 |
​ | ​ | ($ in thousands) |
​ | ​ | ​ | ​ | ​ | % of | ​ | ​ | ​ | ​ | % of |  | ​ | ​ | ​ | % of |
​ | ​ | Amount | ​ | GWP | ​ | Amount | ​ | GWP |  | Amount | ​ | GWP |
Product |  | ​ |  |  |  |  | ​ |  |  |  | ​ | ​ |  |  |  | ​
Fronting | ​ | $ | 223,249 | ​ | 25.3 | % | $ | 11,459 | ​ | 2.2 | % | $ | - | ​ | NM | ​
Residential Earthquake | ​ | ​ | 213,803 | ​ | 24.2 | % | ​ | 171,048 | ​ | 32.0 | % | ​ | 140,934 | ​ | 39.8 | %
Commercial Earthquake | ​ |  | 131,677 | ​ | 14.9 | % |  | 90,552 | ​ | 16.9 | % |  | 58,890 | ​ | 16.6 | %
Inland Marine | ​ |  | 105,068 | ​ | 11.9 | % |  | 57,124 | ​ | 10.7 | % |  | 15,423 | ​ | 4.3 | %
Commercial All Risk | ​ | ​ | 51,671 | ​ | 5.9 | % | ​ | 38,640 | ​ | 7.2 | % | ​ | 53,933 | ​ | 15.2 | %
Casualty | ​ | ​ | 35,791 | ​ | 4.1 | % | ​ | 9,584 | ​ | 1.9 | % | ​ | — | ​ | NM | ​
Hawaii Hurricane | ​ |  | 32,967 | ​ | 3.7 | % |  | 30,298 | ​ | 5.6 | % |  | 13,824 | ​ | 3.9 | %
Specialty Homeowners | ​ |  | 29,959 | ​ | 3.4 | % |  | 67,894 | ​ | 12.7 | % |  | 49,849 | ​ | 14.1 | %
Residential Flood | ​ |  | 14,539 | ​ | 1.7 | % |  | 11,652 | ​ | 2.2 | % |  | 8,176 | ​ | 2.3 | %
Other | ​ | ​ | 43,144 | ​ | 4.9 | % | ​ | 46,924 | ​ | 8.6 | % | ​ | 13,331 | ​ | 3.8 | %
Total Gross Written Premiums | ​ | $ | 881,868 |  | 100.0 | % | $ | 535,175 |  | 100.0 | % | $ | 354,360 |  | 100.0 | %
NM-Not Meaningful | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ Gross written premiums by state are as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31, |
​ | ​ | 2022 | ​ | 2021 |  | 2020 |
​ | ​ | ($ in thousands) |
​ | ​ | ​ | ​ | ​ | % of | ​ | ​ | ​ | ​ | % of |  | ​ | ​ | ​ | % of |
​ | ​ | Amount | ​ | GWP | ​ | Amount | ​ | GWP |  | Amount | ​ | GWP |
State |  | ​ |  |  |  |  | ​ |  |  |  | ​ | ​ |  |  |  | ​
California | ​ | $ | 418,809 | ​ | 47.5 | % | $ | 244,416 | ​ | 45.6 | % | $ | 172,765 | ​ | 48.8 | %
Texas | ​ | ​ | 90,459 | ​ | 10.3 | % | ​ | 62,893 | ​ | 11.8 | % | ​ | 67,974 | ​ | 19.2 | %
Washington | ​ |  | 41,827 | ​ | 4.7 | % |  | 23,608 | ​ | 4.4 | % |  | 14,328 | ​ | 4.0 | %
Hawaii | ​ | ​ | 40,157 | ​ | 4.5 | % | ​ | 34,993 | ​ | 6.5 | % | ​ | 16,398 | ​ | 4.6 | %
Florida | ​ | ​ | 38,715 | ​ | 4.4 | % | ​ | 27,386 | ​ | 5.1 | % |  | 5,795 | ​ | 1.7 | %
Oregon | ​ |  | 24,108 | ​ | 2.7 | % |  | 13,677 | ​ | 2.6 | % |  | 10,038 | ​ | 2.8 | %
Illinois | ​ |  | 17,368 | ​ | 2.0 | % |  | 12,133 | ​ | 2.3 | % | ​ | 6,133 | ​ | 1.7 | %
North Carolina | ​ | ​ | 12,776 | ​ | 1.5 | % | ​ | 15,271 | ​ | 2.9 | % |  | 11,143 | ​ | 3.1 | %
Other | ​ |  | 197,649 | ​ | 22.4 | % |  | 100,798 | ​ | 18.8 | % |  | 49,786 | ​ | 14.1 | %
Total Gross Written Premiums | ​ | $ | 881,868 |  | 100.0 | % | $ | 535,175 |  | 100.0 | % | $ | 354,360 |  | 100.0 | %
​ Gross written premiums by insurance subsidiary are as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Year Ended December 31, |
​ | ​ | 2022 | ​ | 2021 |  | 2020 |
​ | ​ | ($ in thousands) |
​ | ​ | ​ | ​ | ​ | % of | ​ | ​ | ​ | ​ | % of |  | ​ | ​ | ​ | % of |
​ | ​ | Amount | ​ | GWP | ​ | Amount | ​ | GWP |  | Amount | ​ | GWP |
Subsidiary |  | ​ |  |  |  |  | ​ |  |  |  | ​ | ​ |  |  |  | ​
PSIC | ​ | $ | 489,720 | ​ | 55.5 | % | $ | 383,064 | ​ | 71.6 | % | $ | 324,870 | ​ | 91.7 | %
PESIC | ​ |  | 392,148 | ​ | 44.5 | % |  | 152,111 | ​ | 28.4 | % |  | 29,490 | ​ | 8.3 | %
Total Gross Written Premiums | ​ | $ | 881,868 |  | 100.0 | % | $ | 535,175 |  | 100.0 | % | $ | 354,360 |  | 100.0 | %
​ The Company distributes a significant portion of its Fronting, Residential Earthquake, Commercial Earthquake, and Hawaii Hurricane products through two program administrators. Each of the products managed by the program administrators operates as a separate program that is governed by an independent, separately negotiated agreement with unique terms and conditions, including geographic scope, key men provisions, economics and exclusivity. These programs also feature separate managerial oversight and leadership, policy administration systems and retail agents originating policies. In total, these products accounted for $417.5 million or 47.3% of the Company’s gross written premiums for the year ended December 31, 2022, $255.8 million or 48.2% of the Company’s gross written premiums for the year ended December 31, 2021, and $191.3 million or 54.0% of the Company’s gross written premiums for the year ended December 31, 2020.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126901519&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI https://asc.fasb.org/topic&trid=2134510 + Details
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