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Deferred Policy Acquisition Costs

12 Months Ended

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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- References

No definition available.

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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

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