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Credit Losses

12 Months Ended

Dec. 31, 2024

Credit Loss [Abstract]

Allowance for Credit Losses

) ALLOWANCE FOR EXPECTED CREDIT LOSSES

We are exposed to credit losses primarily through four different pools of assets based on similar risk characteristics: premiums receivable for direct written business; reinsurance recoverables from ceded losses to our reinsurers; our investment holdings and our notes receivable. We estimate the expected credit losses based on historical trends, credit ratings assigned to reinsurers by rating agencies and debt issuers, 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 years ended December 31, 2024 and 2023:

December 31, 2024
						December 31, 2023						Provision for expected credit losses						Write-offs						December 31, 2024
Premiums Receivable						$	49					$	(23)					$	—					$	26
Reinsurance Recoverables						97						(22)						—						75
Total						$	146					$	(45)					$	—					$	101
December 31, 2023
						December 31, 2022						Provision for expected credit losses						Write-offs						December 31, 2023
Premiums Receivable						$	31					$	16					$	2					$	49
Reinsurance Recoverables						333						(236)						—						97
Total						$	364					$	(220)					$	2					$	146

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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

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- References

No definition available.

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