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Credit Losses | 3 Months Ended
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Mar. 31, 2024
Credit Loss [Abstract] |
Allowance for Credit Losses | ALLOWANCE FOR EXPECTED CREDIT LOSSES We are exposed to credit losses primarily through three different pools of assets based on similar risk characteristics: premiums receivable for direct written business; reinsurance recoverables from ceded losses to our reinsurers; and our investment holdings. We estimate the expected credit losses based on historical trends, credit ratings assigned to reinsurers by rating agencies, average default rates, current economic conditions, and reasonable and supportable forecasts of future economic conditions that affect the collectability of the reported amounts over its expected life. Changes in the relevant information may significantly affect the estimates of expected credit losses. The allowance for credit losses is deducted from the amortized cost basis of the assets to present their net carrying value at the amount expected to be collected. Each period, the allowance for credit losses is adjusted through earnings to reflect expected credit losses over the remaining lives of the assets. The following tables summarize our allowance for expected credit losses by pooled asset for the three months ended March 31, 2024 and 2023, respectively:
March 31, 2024 |  | December 31, 2023 |  | Provision for expected credit losses |  | Write-offs |  | March 31, 2024
Premiums Receivable |  | $ | 51 |  |  | $ | (16) |  |  | $ | 18 |  |  | $ | 53 |
Reinsurance Recoverables |  | 97 |  |  | (32) |  |  | — |  |  | 65 |
Total |  | $ | 148 |  |  | $ | (48) |  |  | $ | 18 |  |  | $ | 118 |
March 31, 2023 |  | December 31, 2022 |  | Provision for expected credit losses |  | Write-offs |  | March 31, 2023
Premiums Receivable |  | $ | 32 |  |  | $ | (34) |  |  | $ | 29 |  |  | $ | 27 |
Reinsurance Recoverables |  | 333 |  |  | (183) |  |  | — |  |  | 150 |
Total |  | $ | 365 |  |  | $ | (217) |  |  | $ | 29 |  |  | $ | 177 |

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- Definition The entire disclosure for allowance for credit losses. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 310 -Publisher FASB -URI https://asc.fasb.org/310/tableOfContent + Details
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- References No definition available. + Details
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