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Deferred Policy Acquisition Costs
 6 Months Ended
Jun. 30, 2024
Deferred Policy Acquisition Costs [Abstract]  
Deferred Policy Acquisition Costs
6.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, presented on a consolidated basis, including both continuing and discontinued operations, shows the deferred policy acquisition costs and asset reconciliation:

 

   Three Months Ended June 30,   Six Months Ended June 30, 
   2024   2023   2024   2023 
Balance, beginning of period  $36,565   $31,350   $34,120   $29,768 
Deferral of policy acquisition costs   25,962    23,353    49,070    43,523 
Amortization of deferred policy acquisition costs   (23,372)   (20,579)   (44,035)   (39,167)
Westminster balance disposed in sale   (7,998)   
—
    (7,998)   
—
 
Balance, end of period  $31,157   $34,124   $31,157   $34,124 

 

The tables for current and prior year continuing and discontinued operations showing the deferred policy acquisition costs and assets reconciliation are shown below:

 

   Three Months Ended June 30,   Six Months Ended June 30, 
   2024   2023   2024   2023 
Continuing operations:                    
Balance, beginning of period  $28,948   $24,210   $26,790   $22,675 
Deferral of policy acquisition costs   21,499    19,046    40,474    35,585 
Amortization of deferred policy acquisition costs   (19,290)   (16,784)   (36,107)   (31,788)
Balance, end of period  $31,157   $26,472   $31,157   $26,472 

 

   Three Months Ended June 30,   Six Months Ended June 30, 
   2024   2023   2024   2023 
Discontinued operations:                    
Balance, beginning of period  $7,617   $7,140   $7,330   $7,093 
Deferral of policy acquisition costs   4,464    4,307    8,596    7,938 
Amortization of deferred policy acquisition costs   (4,083)   (3,795)   (7,928)   (7,379)
Balance, end of period  $7,998   $7,652   $7,998   $7,652