XML 42 R31.htm IDEA: XBRL DOCUMENT
v3.22.1

GEOGRAPHICAL BREAKDOWN OF GROSS WRITTEN PREMIUM (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2022
Insurance [Abstract] |
Schedule of Direct and Assumed Written Premiums | The following table reflects amounts affecting the condensed consolidated statements of operations and comprehensive loss for reinsurance for the three months ended March 31, 2022 and 2021:
|  |  | Three Months Ended March 31,
|  |  |  |  | 2022 |  | 2021
|  |  |  |  | (dollars in millions)
Premiums written: |  |  |  |  |  |  |
Direct |  |  |  |  | $ | 173.5 |  |  | $ | 202.5 |
Assumed |  |  |  |  | 13.7 |  |  | — |
Ceded |  |  |  |  | (102.4) |  |  | (89.6) |
Net premiums written |  |  |  |  | $ | 84.8 |  |  | $ | 112.9 |
Premiums earned: |  |  |  |  |  |  |
Direct |  |  |  |  | $ | 165.5 |  |  | $ | 160.2 |
Assumed |  |  |  |  | 9.2 |  |  | — |
Ceded |  |  |  |  | (96.4) |  |  | (101.1) |
Net premiums earned |  |  |  |  | $ | 78.3 |  |  | $ | 59.1 |
Losses and LAE incurred: |  |  |  |  |  |  |
Direct |  |  |  |  | $ | 151.7 |  |  | $ | 129.2 |
Assumed |  |  |  |  | 11.2 |  |  | — |
Ceded |  |  |  |  | (66.2) |  |  | (69.3) |
Net losses and LAE incurred |  |  |  |  | $ | 96.7 |  |  | $ | 59.9 |
Gross written premium by state is as follows for the three months ended March 31, 2022 and 2021:
|  |  | Three Months Ended March 31,
|  |  |  |  | 2022 |  | 2021
|  |  |  |  |  |  |  |  | Amount |  | % of Total |  | Amount |  | % of Total
State |  |  |  |  |  |  |  |  | (dollars in millions)
Texas(1) |  |  |  |  |  |  |  |  | $ | 37.3 |  |  | 19.9 | % |  | $ | 43.0 |  |  | 21.2 | %
Georgia |  |  |  |  |  |  |  |  | 18.8 |  | 10.0 |  |  | 19.0 |  | 9.4 |
Louisiana |  |  |  |  |  |  |  |  | 10.7 |  | 5.7 |  |  | 10.3 |  | 5.1 |
Colorado |  |  |  |  |  |  |  |  | 10.7 |  | 5.7 |  |  | 8.9 |  | 4.4 |
Pennsylvania |  |  |  |  |  |  |  |  | 10.0 |  | 5.3 |  |  | 10.4 |  | 5.1 |
Utah |  |  |  |  |  |  |  |  | 9.0 |  | 4.8 |  |  | 8.6 |  | 4.2 |
Nevada |  |  |  |  |  |  |  |  | 8.7 |  | 4.6 |  |  | 8.3 |  | 4.1 |
South Carolina |  |  |  |  |  |  |  |  | 7.1 |  | 3.8 |  |  | 6.1 |  | 3.0 |
Oklahoma |  |  |  |  |  |  |  |  | 6.3 |  | 3.4 |  |  | 6.6 |  | 3.3 |
Missouri |  |  |  |  |  |  |  |  | 6.0 |  | 3.2 |  |  | 7.9 |  | 3.9 |
All others states |  |  |  |  |  |  |  |  | 62.6 |  | 33.6 |  |  | 73.4 |  | 36.3 |
Total |  |  |  |  |  |  |  |  | $ | 187.2 |  |  | 100.0 | % |  | $ | 202.5 |  |  | 100.0 | %
______________ (1) Includes assumed premiums, which commenced in August 2021. Assumed written premium for the three months ended March 31, 2022 was $13.7 million. Prior to the fronting carrier commencement, we did not assume any premiums.

X
- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 605 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6486672&loc=d3e27261-158547 + Details
Name: | us-gaap_EffectsOfReinsuranceTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InsuranceAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration