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Liability for Unpaid Losses and Loss Adjustment Expenses
3 Months Ended
Sep. 30, 2024
Liability for Unpaid Losses and Loss Adjustment Expenses [Abstract]  
Liability for Unpaid Losses and Loss Adjustment Expenses Liability for Unpaid Losses and Loss Adjustment Expenses 
The following table represents a reconciliation of changes in the liability for unpaid losses and LAE.
Three Months EndedNine Months Ended
 September 30,September 30,
 2024202320242023
 (in millions)
Unpaid losses and LAE at beginning of period$1,850.9 $1,927.2 $1,884.5 $1,960.7 
Less reinsurance recoverable, excluding CECL allowance, on unpaid losses and LAE418.3 436.2 428.4 445.4 
Net unpaid losses and LAE at beginning of period1,432.6 1,491.0 1,456.1 1,515.3 
Losses and LAE, net of reinsurance, incurred during the period related to:  
Current period119.3 116.9 358.0 338.7 
Prior periods(0.1)(0.1)(9.3)(20.0)
Total net losses and LAE incurred during the period119.2 116.8 348.7 318.7 
Paid losses and LAE, net of reinsurance, related to:  
Current period38.3 32.0 69.2 64.1 
Prior periods90.1 89.0 312.2 283.1 
Total net paid losses and LAE during the period128.4 121.0 381.4 347.2 
Ending unpaid losses and LAE, net of reinsurance1,423.4 1,486.8 1,423.4 1,486.8 
Reinsurance recoverable, excluding CECL allowance, on unpaid losses and LAE413.1 426.6 413.1 426.6 
Unpaid losses and LAE at end of period$1,836.5 $1,913.4 $1,836.5 $1,913.4 
Total net losses and LAE included in the above table exclude amortization of the Deferred Gain and Contingent Commission adjustments, when applicable, which totaled $1.5 million and $1.9 million for the three months ended September 30, 2024 and 2023, respectively, and $5.8 million and $5.9 million for the nine months ended September 30, 2024 and 2023, respectively (see Note 9).
The change in incurred losses and LAE attributable to prior periods for the three months ended September 30, 2024 represented net favorable loss reserve development on the Company's assigned risk business. The change in incurred losses and LAE attributable to prior periods for the nine months ended September 30, 2024 represented net favorable loss reserve development on the Company's voluntary risk business. The net favorable prior year loss reserve development on the Company's voluntary business during the nine months ended September 30, 2024 resulted from overall favorable loss experience, which related primarily to accident years 2022 and prior, partially offset by unfavorable prior year loss experience in accident year 2023 associated with certain large claims.
The change in incurred losses and LAE attributable to prior periods for the three months ended September 30, 2023 also represented net favorable loss reserve development on the Company's assigned risk business. The change in incurred losses and LAE attributable to prior periods for the nine months ended September 30, 2023, represented net favorable loss reserve development on the Company's voluntary risk business. The net loss reserve development recognized on voluntary business during the nine months ended September 30, 2023 resulted from overall favorable loss experience, which related primarily to accident years 2020 and prior.