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Deferred Policy Acquisition Costs | 12 Months Ended
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Dec. 31, 2023
Deferred Policy Acquisition Costs [Abstract] |
Deferred Policy Acquisition Costs |
7. | Deferred Policy Acquisition Costs
Expenses directly related to successfully acquired insurance policies, primarily commissions, premium taxes and underwriting costs, are deferred and amortized over the terms of the policies. We update our acquisition cost assumptions periodically to reflect actual experience, and we evaluate the costs for recoverability. The table below shows the deferred policy acquisition costs and asset reconciliation:
|  | Year Ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Balance, beginning of year |  | $ | 29,768 |  |  | $ | 24,947 |  |  | $ | 23,968 |
Deferral of policy acquisition costs |  |  | 87,343 |  |  |  | 71,624 |  |  |  | 65,553 |
Amortization of deferred policy acquisition costs |  |  | (82,991 | ) |  |  | (66,803 | ) |  |  | (64,574 | )
Balance, end of year |  | $ | 34,120 |  |  | $ | 29,768 |  |  | $ | 24,947 |

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- Definition The entire disclosure for deferred policy acquisition costs. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 944 -SubTopic 30 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//944-30/tableOfContent + Details
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