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GEOGRAPHICAL BREAKDOWN OF GROSS PREMIUMS WRITTEN

6 Months Ended

Jun. 30, 2024

Insurance [Abstract]

GEOGRAPHICAL BREAKDOWN OF GROSS PREMIUMS WRITTEN

REINSURANCE

The following table reflects amounts affecting the condensed consolidated statements of operations and comprehensive loss for reinsurance for the three and six months ended June 30, 2024 and 2023:

			Three Months Ended June 30,												Six Months Ended June 30,
			2024						2023						2024						2023
			(dollars in millions)
Premiums written:
Direct			$	250.1					$	128.1					$	523.0					$	251.9
Assumed			58.1						16.9						115.9						27.8
Ceded			(44.6)						(67.2)						(91.3)						(137.1)
Net premiums written			$	263.6					$	77.8					$	547.6					$	142.6
Premiums earned:
Direct			$	252.7					$	120.2					$	481.1					$	240.3
Assumed			55.3						11.3						101.9						21.3
Ceded			(46.4)						(67.6)						(91.1)						(137.7)
Net premiums earned			$	261.6					$	63.9					$	491.9					$	123.9
Losses and LAE incurred:
Direct			$	173.6					$	90.5					$	335.8					$	190.3
Assumed			45.1						8.7						76.6						16.4
Ceded			(28.4)						(39.7)						(55.7)						(83.9)
Net losses and LAE incurred			$	190.3					$	59.5					$	356.7					$	122.8

In the event that all or any of the reinsuring companies might be unable to meet their obligations under existing reinsurance agreements, we would be liable to the policyholder for such defaulted amounts.

GEOGRAPHICAL BREAKDOWN OF GROSS PREMIUMS WRITTEN

Gross premiums written by state is as follows for the three and six months ended June 30, 2024 and 2023:

			Three Months Ended June 30,																								Six Months Ended June 30,
			2024												2023												2024												2023
			Amount						% of Total						Amount						% of Total						Amount						% of Total						Amount						% of Total
			(dollars in millions)
State:
Texas			$	61.7					20.0		%				$	23.8					16.4		%				$	123.3					19.3		%				$	43.3					15.5		%
Georgia			41.1						13.3						15.8						10.9						80.5						12.6						29.7						10.6
Florida			28.4						9.2						2.0						1.4						44.0						6.9						3.8						1.4
Colorado			17.3						5.6						11.9						8.2						35.5						5.6						22.5						8.0
Pennsylvania			17.8						5.8						7.6						5.2						35.3						5.5						16.9						6.0
South Carolina			9.6						3.1						10.6						7.3						31.6						4.9						16.8						6.0
Arizona			12.7						4.1						6.0						4.1						26.6						4.2						10.7						3.8
Ohio			8.6						2.8						4.9						3.4						20.1						3.1						8.6						3.1
Maryland			7.1						2.3						3.0						2.1						17.9						2.8						6.3						2.3
Utah			7.3						2.4						7.4						5.1						16.1						2.5						14.6						5.2
All others states			96.6						31.4						52.0						35.9						208.0						32.6						106.5						38.1
Total			$	308.2					100.0		%				$	145.0					100.0		%				$	638.9					100.0		%				$	279.7					100.0		%

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- References

No definition available.

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X

- Definition

The entire disclosure pertaining to the existence, magnitude and information about insurance that has been ceded to or assumed from another insurance company, including the methodologies and assumptions used in determining recorded amounts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479838/944-20-50-3

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479838/944-20-50-4

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 944
-SubTopic 605
-Name Accounting Standards Codification
-Section 55
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477548/944-605-55-12

Reference 4: http://www.xbrl.org/2003/role/exampleRef
-Topic 944
-SubTopic 605
-Name Accounting Standards Codification
-Section 55
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477548/944-605-55-15

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