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Loss and Loss Adjustment Expenses (Tables)

12 Months Ended

Dec. 31, 2024

Insurance [Abstract]

Summary of Development Tables of Incurred and Paid Losses and Allocated Loss Adjustment Expenses Net of Reinsurance


		Incurred Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance																																As of
		For the Years Ended December 31,																																December 31, 2024
		(Dollars in thousands)																															Total IBNR
																																	Plus
																																	Expected				Cumulative
																																	Development				Number of
Accident		Unaudited (1)																															on Reported				Claims
Year		2015			2016			2017			2018			2019			2020			2021			2022			2023				2024			Claims				Reported
2015		$	262,573		$	262,573		$	252,514		$	235,471		$	220,965		$	211,758		$	207,929		$	207,086		$	205,556			$	203,499			$	4,359				5,517
2016			—			250,491			250,491			241,406			218,005			209,214			202,820			201,604			198,566				197,359				4,666				5,395
2017			—			—			244,094			244,098			234,587			220,096			211,964			208,360			206,293				203,443				5,297				5,214
2018			—			—			—			250,487			250,487			235,641			217,369			208,517			205,001				203,456				3,865				5,478
2019			—			—			—			—			241,344			241,344			227,246			214,123			206,109				203,072				5,628				5,223
2020			—			—			—			—			—			220,710			220,710			214,500			207,047				200,698				12,923				4,391
2021			—			—			—			—			—			—			222,715			222,715			215,232				211,548				4,359				4,314
2022			—			—			—			—			—			—			—			192,907			192,907				190,117				(3,907	)			4,088
2023			—			—			—			—			—			—			—			—			189,659				189,659				3,422				3,924
2024			—			—			—			—			—			—			—			—			—				192,153				(11,366	)			3,577
																										Total				$	1,995,004			$	29,246


		Cumulative Paid Losses and Allocated Loss Adjustment Expenses, Net of Reinsurance
		For the Years Ended December 31,
		(Dollars in thousands)

Accident		Unaudited (1)																																Claim
Year		2015			2016			2017			2018			2019			2020			2021			2022			2023				2024				Frequency (2)
2015		$	54,141		$	121,599		$	151,818		$	170,461		$	182,053		$	185,657		$	188,145		$	189,339		$	190,588			$	189,578				14.25
2016			—			52,238			115,713			143,016			156,860			166,887			172,133			174,134			178,572				179,521				14.23
2017			—			—			56,951			122,552			151,427			166,448			175,733			183,696			185,690				186,798				14.69
2018			—			—			—			62,061			126,057			152,328			172,423			181,081			184,797				187,196				15.23
2019			—			—			—			—			58,884			120,512			154,391			168,448			176,488				180,586				15.28
2020			—			—			—			—			—			50,113			109,882			137,411			153,974				162,703				13.95
2021			—			—			—			—			—			—			52,292			130,288			159,864				174,454				15.06
2022			—			—			—			—			—			—			—			50,954			110,494				138,000				14.48
2023			—			—			—			—			—			—			—			—			47,207				107,823				13.83
2024			—			—			—			—			—			—			—			—			—				52,869				12.39
																										Total					1,559,528
All outstanding liabilities before 2015, net of reinsurance																															103,092
Liabilities for loss and loss adjustment expenses, net of reinsurance																															538,567

(1) Data presented for these calendar years is required supplementary information, which is unaudited.
(2) Frequency, as calculated above, refers to reported claims divided by gross premium earned.

Summary of Average Annual Percentage Payout of Incurred Losses by Age Net of Reinsurance for Worker's Compensation and General Liability

The average annual percentage payout of incurred losses by age, net of reinsurance, for workers’ compensation and general liability as of December 31, 2024 is summarized below. Since workers’ compensation has long payout periods, the table below shows less than 100% in the years disclosed. This is required supplementary information, which is unaudited.


Average Annual Percentage Payout of Incurred Losses by Age, Net of Reinsurance (Unaudited)
Year 1	Year 2	Year 3	Year 4	Year 5	Year 6	Year 7	Year 8	Year 9		Year 10
26.9%	32.1%	14.3%	7.9%	4.7%	2.4%	1.1%	1.1%	0.5%		(0.5)%

Reconciliation of Beginning and Ending Reserve Balances, Net of Related Amounts Recoverable from Reinsurers

The following table provides a reconciliation of the beginning and ending reserve balances, net of related amounts recoverable from reinsurers, for 2024, 2023 and 2022:


		Year Ended December 31,
		2024				2023				2022
		(in thousands)
Balance, beginning of period		$	673,994			$	696,037			$	745,278
Less amounts recoverable from reinsurers on unpaid loss and loss adjustment expenses			119,746				112,555				119,266
Net balance, beginning of period			554,248				583,482				626,012
Add incurred related to:
Current accident year			192,153				189,659				192,907
Prior accident years			(34,886	)			(41,396	)			(40,591	)
Total incurred			157,267				148,263				152,316
Less paid related to:
Current accident year			52,869				47,207				50,954
Prior accident years			120,079				130,290				143,892
Total paid			172,948				177,497				194,846
Net balance, end of period			538,567				554,248				583,482
Add amounts recoverable from reinsurers on unpaid loss and loss adjustment expenses			112,742				119,746				112,555
Balance, end of period		$	651,309			$	673,994			$	696,037

Summary Exposures to Various Asbestos Related Claims

The following table details our exposures to various asbestos related claims:


		Year Ended December 31,
		2024				2023				2022
		(in thousands)
Reserves for loss and LAE at beginning of year		$	310			$	248			$	260
Incurred losses and LAE during the current year			14				15				(2	)
Loss and LAE payments			(11	)			47				(10	)
Reserves for loss and LAE at end of year		$	313			$	310			$	248