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Reinsurance (Tables) | 3 Months Ended
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Mar. 31, 2024
Reinsurance Disclosures [Abstract] |
Schedule of Effects of Reinsurance on Premiums Written, Earned, Incurred Losses and LAE | The effects of reinsurance on premiums written and earned for the three months ended March 31, 2024 and 2023, were as follows:
| Three Months Ended March 31,
| 2024 |  | 2023
| Written |  | Earned |  | Written |  | Earned
Direct premiums | $ | 75,104 |  | $ | 108,588 |  | $ | 96,873 |  | $ | 114,824
Ceded premiums | (30,329) |  |  | (36,363) |  |  | 2,266 |  |  | (74,674) |
Net premiums | $ | 44,775 |  | $ | 72,225 |  | $ | 99,139 |  | $ | 40,150
The effects of reinsurance on incurred losses and loss adjustment expense (“LAE”) for the three months ended March 31, 2024 and 2023, were as follows:
| Three Months Ended March 31,
| 2024 |  | 2023
Direct losses and LAE | $ | 79,416 |  |  | $ | 90,015 |
Ceded losses and LAE | (10,483) |  |  | (47,156) |
Net losses and LAE | $ | 68,933 |  |  | $ | 42,859 |
Schedule of Reinsurance Balances Due | The detail of reinsurance balances due is as follows:
| March 31, 2024 |  | December 31, 2023
Ceded unearned premium | $ | 41,899 |  |  | $ | 50,697 |
Losses and LAE reserve | 18,556 |  |  | 19,911 |
Reinsurance recoverable | 14,637 |  |  | 12,629 |
Other | 327 |  |  | 345 |
Reinsurance balance due | $ | 75,419 |  |  | $ | 83,582 |

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- Definition Tabular disclosure of the effects of reinsurance, for example, but not limited to, disclosure of direct, assumed, and ceded insurance. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 605 -Topic 944 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479655/944-605-50-1 + Details
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