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Property and Casualty Insurance Activity (Tables)

3 Months Ended

Mar. 31, 2022

Property and Casualty Insurance Activity

Schedule Of Earned Premiums

		Direct				Assumed				Ceded				Net
Three months ended March 31, 2022
Premiums written		$	42,983,897			$	-			$	(18,065,709	)		$	24,918,188
Change in unearned premiums			2,392,727				-				(637,535	)			1,755,192
Premiums earned		$	45,376,624			$	-			$	(18,703,244	)		$	26,673,380
Three months ended March 31, 2021
Premiums written		$	38,129,117			$	-			$	(7,329,507	)		$	30,799,610
Change in unearned premiums			3,789,478				-				130			$	3,789,608
Premiums earned		$	41,918,595			$	-			$	(7,329,377	)		$	34,589,218

Schedule Of Loss And Loss Adjustment Expenses

		Three months ended
		March 31,
		2022				2021
Balance at beginning of period		$	94,948,745			$	82,801,228
Less reinsurance recoverables			(10,637,679	)			(20,154,251	)
Net balance, beginning of period			84,311,066				62,646,977
Incurred related to:
Current year			22,944,869				22,571,727
Prior years			(3,671	)			(11,055	)
Total incurred			22,941,198				22,560,672
Paid related to:
Current year			9,283,972				7,749,998
Prior years			14,918,035				10,059,577
Total paid			24,202,007				17,809,575
Net balance at end of period			83,050,257				67,398,074
Add reinsurance recoverables			15,866,741				17,058,985
Balance at end of period		$	98,916,998			$	84,457,059

Schedule Of Ceding Commission Revenue

		Three months ended
		March 31,
		2022				2021
Provisional ceding commissions earned		$	4,541,533			$	45,499
Contingent ceding commissions earned			139,863				(46,564	)
		$	4,681,396			$	(1,065	)

Incurred Loss And Allocated Loss Adjustment Expenses

All Lines of Business
(in thousands, except reported claims data)
		Incurred Loss and Allocated Loss Adjustment Expenses, Net of Reinsurance																																								As of March 31, 2022
		For the Years Ended December 31,																																				Three Months Ended March 31,
Accident Year		2013				2014				2015				2016				2017				2018				2019				2020				2021				2022				IBNR				Cumulative Number of Reported Claims by Accident Year
		(Unaudited 2013 - 2021)																																				(Unaudited)
2013		$	10,728			$	9,745			$	9,424			$	9,621			$	10,061			$	10,089			$	10,607			$	10,495			$	10,529			$	10,507			$	22				1,564
2014							14,193				14,260				14,218				14,564				15,023				16,381				16,428				16,434				16,422				128				2,138
2015											22,340				21,994				22,148				22,491				23,386				23,291				23,528				23,540				277				2,558
2016															26,062				24,941				24,789				27,887				27,966				27,417				27,390				152				2,881
2017																			31,605				32,169				35,304				36,160				36,532				36,534				292				3,398
2018																							54,455				56,351				58,441				59,404				59,787				563				4,225
2019																											75,092				72,368				71,544				71,588				5,324				4,479
2020																															63,083				62,833				62,342				4,737				5,845
2021																																			96,425				96,647				12,276				5,713
2022																																							21,279				6,972				1,090
																																		Total				$	426,035

Cumulative Paid Loss And Allocated Loss Adjustment Expenses

All Lines of Business
(in thousands)
		Cumulative Paid Loss and Allocated Loss Adjustment Expenses, Net of Reinsurance
		For the Years Ended December 31,																																				Three Months Ended March 31,
Accident Year		2013				2014				2015				2016				2017				2018				2019				2020				2021				2022
		(Unaudited 2013 - 2021)																																				(Unaudited)
2013		$	3,405			$	5,303			$	6,633			$	7,591			$	8,407			$	9,056			$	9,717			$	10,016			$	10,392			$	10,397
2014							5,710				9,429				10,738				11,770				13,819				14,901				15,491				15,770				15,833
2015											12,295				16,181				18,266				19,984				21,067				22,104				22,318				22,414
2016															15,364				19,001				21,106				23,974				25,234				25,750				25,804
2017																			16,704				24,820				28,693				31,393				32,529				32,590
2018																							32,383				44,516				50,553				52,025				52,250
2019																											40,933				54,897				58,055				58,916
2020																															39,045				50,719				51,670
2021																																			56,282				68,352
2022																																							8,233
																																		Total				$	346,460
Net liability for unpaid loss and allocated loss adjustment expenses for the accident years presented																																						$	79,574
All outstanding liabilities before 2013, net of reinsurance																																							296
Liabilities for loss and allocated loss adjustment expenses, net of reinsurance																																						$	79,870
(Components may not sum to totals due to rounding)

Reconciliation Of The Net Incurred And Paid Claims

Reconciliation of the Disclosure of Incurred and Paid Loss Development
to the Liability for Loss and LAE Reserves
		As of
(in thousands)		March 31, 2022
Liabilities for allocated loss and loss adjustment expenses, net of reinsurance		$	79,870
Total reinsurance recoverable on unpaid losses			15,867
Unallocated loss adjustment expenses			3,180
Total gross liability for loss and LAE reserves		$	98,917
(Components may not sum to totals due to rounding)

		Treaty Year
		(2021/2023 Treaty)
		July 1,				December 31,				July 1,				December 31,
		2022				2021				2021				2020
		to				to				to				to
		January 1,				June 30,				December 30,				June 30,
Line of Business		2023				2022				2021				2021
Personal Lines:
Homeowners, dwelling fire and and canine legal liability
Quota share treaty:
Percent ceded (9)			30	%			30	%		None (5		)		None (5		)
Risk retained on intial $1,000,000 of losses (5) (7) (9)		$	700,000			$	700,000			$	1,000,000			$	1,000,000
Losses per occurrence subject to quota share reinsurance coverage		$	1,000,000			$	1,000,000			None (5		)		None (5		)
Expiration date			January 1, 2023				January 1, 2023			NA (5		)		NA (5		)
Excess of loss coverage and facultative facility coverage (1) (7)		$	400,000			$	8,400,000			$	8,000,000			$	8,000,000
			in excess of				in excess of				in excess of				in excess of
		$	600,000			$	600,000			$	1,000,000			$	1,000,000
Total reinsurance coverage  per occurrence (5) (7) (8)		$	500,000			$	8,500,000			$	8,000,000			$	8,000,000
Losses per occurrence subject to reinsurance coverage (5) (8)		$	1,000,000			$	9,000,000			$	9,000,000			$	9,000,000
Expiration date			(8	)		June 30, 2022				June 30, 2022				June 30, 2021
Catastrophe Reinsurance:
Initial loss subject to personal lines quota share treaty			10,000,000				10,000,000				None (5	)			None (5	)
Risk retained per catastrophe occurrence (5) (9) (10)		None (8		)		$	7,400,000			$	10,000,000			$	10,000,000
Catastrophe loss coverage in excess of quota share coverage (2) (5)		None (8		)		$	490,000,000			$	490,000,000			$	475,000,000
Catastrophe stub coverage for the period from October 18, 2021 through December 31, 2021 (6)		NA				NA				$	5,000,000			NA
											in excess of
										$	5,000,000
Reinstatement premium protection (3) (4) (8)		None				Yes				Yes				Yes

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