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Policy Acquisition Costs

12 Months Ended

Dec. 31, 2022

Policy Acquisition Costs

Policy Acquisition Costs

5. Policy Acquisition Costs

The following tables present the policy acquisition costs deferred and amortized over the terms of the policies in force:

​

​	​	​	​	​	​	​	​	​	​
​	​	Year ended December 31,
​		2022			2021			2020
​	​	(in thousands)
Deferred Policy Acquisition Costs:		​			​			​
Balance, beginning of year	​	$	55,953	​	$	35,481	​	$	25,201
Additions to deferred balance:	​		​	​		​	​		​
Direct commissions	​		209,061	​		133,242	​		82,786
Ceding commissions and fronting fees	​		(109,302)	​		(32,249)	​		(19,371)
Premium taxes	​		10,166	​		8,209	​		7,024
Total net additions	​		109,925	​		109,202	​		70,439
Amortization of net policy acquisition costs	​		(109,138)	​		(88,730)	​		(60,159)
Balance, end of year	​	$	56,740	​	$	55,953	​	$	35,481
Acquisition expenses:	​			​			​
Amortization of net policy acquisition costs	​	$	109,138	​	$	88,730	​	$	60,159
Period costs	​		1,633	​		6,703	​		3,882
Total Acquisition expenses	​	$	110,771	​	$	95,433	​	$	64,041

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- References

No definition available.

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- Definition

The entire disclosure for deferred policy acquisition costs.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 944
-SubTopic 30
-URI https://asc.fasb.org/subtopic&trid=4737841

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