XML 39 R28.htm IDEA: XBRL DOCUMENT v3.24.3

Reserve for Losses and Loss Adjustment Expenses (Tables)

9 Months Ended

Sep. 30, 2024

Insurance [Abstract]

Reconciliation of The Beginning And Ending Reserve Balances

The table below provides a reconciliation of the beginning and ending reserve balances for the nine months ended September 30, 2024 and September 30, 2023:

						September 30, 2024						September 30, 2023
						($ in thousands)
Gross reserves for losses and loss adjustment expenses, beginning of year						$	431,186					$	207,051
Reinsurance recoverable on unpaid losses, beginning of year						136,273						63,381
Net reserves for unpaid losses and loss adjustment expenses, beginning of year						$	294,913					$	143,670
Net incurred losses and loss adjustment expenses related to:
Current accident year						181,162						113,028
Prior accident years						—						636
						181,162						113,664
Net paid losses and loss adjustment expenses related to:
Current accident year						2,106						1,028
Prior accident years						17,071						6,344
						19,177						7,372
Net reserves for unpaid losses and loss adjustment expenses, end of period						$	456,897					$	249,962
Reinsurance recoverable on unpaid losses, end of period						222,671						114,368
Gross reserves for losses and loss adjustment expenses, end of period						$	679,568					$	364,330

X

- References

No definition available.

+ Details

Name:	us-gaap_InsuranceAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the activity in the reserve for settling insured claims and expenses incurred in the claims settlement process for the period. The estimated liability includes the amount of money that will be required for future payments of (a) claims that have been reported to the insurer, (b) claims related to insured events that have occurred but that have not been reported to the insurer as of the date the liability is estimated, and (c) claim adjustment expenses. Claim adjustment expenses include costs incurred in the claim settlement process such as legal fees; outside adjuster fees; and costs to record, process, and adjust claims.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480081/944-40-50-3

+ Details

Name:	us-gaap_ScheduleOfLiabilityForUnpaidClaimsAndClaimsAdjustmentExpense
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration