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Dividend Restrictions | 12 Months Ended
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Dec. 31, 2023
Insurance [Abstract] |
Dividend Restrictions | 21. Dividend Restrictions Spinnaker Insurance Company The maximum amount of dividends that can be paid by all property and casualty insurance companies within the group without prior approval of their respective insurance commissioner in a 12 month period, measured retrospectively from the date of payment, is $26.3 million and $21.3 million as of December 31, 2023 and 2022. RH Solutions Insurance (Cayman) Ltd. The Company’s insurance subsidiary in the Cayman Islands, RHS, is regulated by the Cayman Islands Monetary Authority (“CIMA”). CIMA must be given advanced notice of any dividend payments. At December 31, 2023 and 2022, approximately $18.4 million and $24.4 million, respectively, of excess capital were available for the payment of dividends contingent on receiving the prior approval of CIMA. Dividend distributions to RH Solutions’ stakeholders are recognized in the period in which the dividends are declared by the Directors. In accordance with the terms of the Insurance (Capital and Solvency) (Class B, C, and D Insurers) Regulations, 2012, as a Class B(iii) insurer under the Law, RHS is required to maintain the Prescribed Capital Requirement (“PCR”) of $5.7 million, which is based on net earned premium during the fiscal year.

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- Definition The entire disclosure for a banking or savings institution's compliance during the year with (a) federal and state laws and regulations relative to dividend restrictions and (b) federal laws and regulations relative to insider loans. + References No definition available. + Details
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