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Property and Casualty Insurance Activity (Tables)

12 Months Ended

Dec. 31, 2022

Property and Casualty Insurance Activity

Schedule of Earned Premiums

		Direct				Assumed				Ceded				Net

Year ended December 31, 2022
Premiums written		$	201,254,837			$	-			$	(79,195,016	)		$	122,059,821
Change in unearned premiums			(9,733,170	)			-				2,057,880				(7,675,290	)
Premiums earned		$	191,521,667			$	-			$	(77,137,136	)		$	114,384,531

Year ended December 31, 2021
Premiums written		$	181,665,178			$	-			$	(52,909,694	)		$	128,755,484
Change in unearned premiums			(7,750,334	)			-				22,876,569			$	15,126,235
Premiums earned		$	173,914,844			$	-			$	(30,033,125	)		$	143,881,719

Schedule of liability for loss and LAE expenses

		Gross				Reinsurance
		Liability				Receivables
December 31, 2022
Case-basis reserves		$	62,745,588			$	16,618,887
Loss adjustment expenses			16,847,618				2,364,053
IBNR reserves			38,746,307				8,676,560
Recoverable on unpaid losses							27,659,500
Recoverable on paid losses			-				13,588,981
Total loss and loss adjustment expenses		$	118,339,513				41,248,481
Unearned premiums							25,216,580
Receivables - reinsurance contracts							-
Total reinsurance receivables						$	66,465,061

December 31, 2021
Case-basis reserves		$	54,761,591			$	7,839,767
Loss adjustment expenses			14,795,659				1,072,847
IBNR reserves			25,391,495				1,725,065
Recoverable on unpaid losses							10,637,679
Recoverable on paid losses			-				6,496,059
Total loss and loss adjustment expenses		$	94,948,745				17,133,738
Unearned premiums							23,158,700
Receivables - reinsurance contracts							-
Total reinsurance receivables						$	40,292,438

Schedule of unpaid losses and LAE

		Years ended
		December 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			85,690,180				101,987,855
Prior years			2,699,862				(15,259	)
Total incurred			88,390,042				101,972,596

Paid related to:
Current year			49,602,585				60,171,695
Prior years			32,418,510				20,136,812
Total paid			82,021,095				80,308,507

Net balance at end of period			90,680,013				84,311,066
Add reinsurance recoverables			27,659,500				10,637,679
Balance at end of period		$	118,339,513			$	94,948,745

Incurred Claims and Allocated Claim Adjustment Expenses

All Lines of Business
*(in thousands, except reported claims data)*
																																										As of
		Incurred Loss and Allocated Loss Adjustment Expenses, Net of Reinsurance																																								December 31, 2022
		For the Years Ended December 31,																																												Cumulative Number of Reported Claims by Accident Year
Accident Year		2013				2014				2015					2016				2017				2018				2019				2020				2021				2022				IBNR			Cumulative Number of Reported Claims by Accident Year
		(Unaudited 2013 - 2021)

2013		$	10,728			$	9,745			$	9,424			$	9,621			$	10,061			$	10,089			$	10,607			$	10,495			$	10,529			$	10,492			$	1				1,564
2014							14,193				14,260				14,218				14,564				15,023				16,381				16,428				16,434				16,486				24				2,138
2015											22,340				21,994				22,148				22,491				23,386				23,291				23,528				23,533				230				2,559
2016															26,062				24,941				24,789				27,887				27,966				27,417				27,352				297				2,881
2017																			31,605				32,169				35,304				36,160				36,532				36,502				375				3,398
2018																							54,455				56,351				58,441				59,404				61,237				1,100				4,230
2019																											75,092				72,368				71,544				71,964				2,431				4,497
2020																															63,083				62,833				63,217				2,568				5,869
2021																																			96,425				96,673				7,863				5,786
2022																																							79,835				21,076				4,414
																																		Total				$	487,291

Cumulative Paid Claims and Allocated Claim 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,
Accident Year		2013				2014				2015				2016				2017				2018				2019				2020				2021				2022
		(Unaudited 2013 - 2021)

2013		$	3,405			$	5,303			$	6,633			$	7,591			$	8,407			$	9,056			$	9,717			$	10,016			$	10,392			$	10,471
2014							5,710				9,429				10,738				11,770				13,819				14,901				15,491				15,770				16,120
2015											12,295				16,181				18,266				19,984				21,067				22,104				22,318				22,473
2016															15,364				19,001				21,106				23,974				25,234				25,750				26,382
2017																			16,704				24,820				28,693				31,393				32,529				33,522
2018																							32,383				44,516				50,553				52,025				54,424
2019																											40,933				54,897				58,055				60,374
2020																															39,045				50,719				53,432
2021																																			56,282				77,756
2022																																							45,856
																																		Total				$	400,811

Net liability for unpaid loss and allocated loss adjustment expenses for the accident years presented																																						$	86,480
All outstanding liabilities before 2013, net of reinsurance																																							259
Liabilities for loss and allocated loss adjustment expenses, net of reinsurance																																						$	86,740

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)		December 31, 2022
Liabilities for allocated loss and loss adjustment expenses, net of reinsurance		$	86,740
Total reinsurance recoverable on unpaid losses			27,660
Unallocated loss adjustment expenses			3,940
Total gross liability for loss and LAE reserves		$	118,340

Supplementary unaudited information about average historical claims duration

Average Annual Percentage Payout of Incurred Loss and Allocated Loss Adjustment Expenses by Age, Net of

Reinsurance

Years

1

2

3

4

5

6

7

8

9

10

All Lines of Business

50.8

%

19.2

%

8.3

%

6.6

%

6.1

%

4.4

%

3.3

%

1.7

%

2.9

%

0.8

%