Reinsurance (Tables)

12 Months Ended

Dec. 31, 2023

Reinsurance recoverable at the balance sheet dates consists of the following:


	December 31,
	2023		2022
Reinsurance recoverable on unpaid losses and LAE	$	271,948	$	732,341
Reinsurance recoverable on paid losses and LAE	69,154		64,205
Reinsurance recoverable(1)	$	341,102	$	796,546

Reinsurance, Effect on Operations

The following table depicts written premiums, earned premiums and losses, showing the effects that our reinsurance transactions have on these components of our Consolidated Statements of Comprehensive Loss:


	Year ended December 31,
	2023		2022		2021
Premium written:
Direct	$	669,927	$	532,818	$	443,115
Assumed	116		39,525		41,412
Ceded	(422,731)		(244,190)		(258,371)
Net premium written	$	247,312	$	328,153	$	226,156
Change in unearned premiums:
Direct	$	(44,280)	$	(47,497)	$	(30,309)
Assumed	10,201		10,523		11,541
Ceded	68,651		(21,833)		13,741
Net decrease (increase)	$	34,572	$	(58,807)	$	(5,027)
Premiums earned:
Direct	$	625,647	$	485,321	$	412,806
Assumed	10,317		50,048		52,953
Ceded	(354,080)		(266,023)		(244,630)
Net premiums earned	$	281,884	$	269,346	$	221,129
Losses and LAE incurred:
Direct	$	136,707	$	756,233	$	77,515
Assumed	2,997		45,521		38,440
Ceded	(76,843)		(666,949)		(26,904)
Net losses and LAE incurred	$	62,861	$	134,805	$	89,051

Reinsurance Effects On Unpaid Lossses, LAE and Unearned Premiums

The following table highlights the effects that our reinsurance transactions have on unpaid losses and loss adjustment expenses and unearned premiums in our Consolidated Balance Sheets:


	December 31,
	2023		2022		2021
Unpaid losses and LAE:
Direct	$	344,389	$	829,862	$	228,423
Assumed	25,832		13,096		22,219
Gross unpaid losses and LAE	370,221		842,958		250,642
Ceded	(271,948)		(732,341)		(176,183)
Net unpaid losses and LAE	$	98,273	$	110,617	$	74,459
Unearned premiums:
Direct	$	293,057	$	248,777	$	201,280
Assumed	—		10,201		20,728
Gross unearned premiums	293,057		258,978		222,008
Ceded	(159,147)		(90,496)		(112,329)
Net unearned premiums	$	133,910	$	168,482	$	109,679