Reserve for Losses and Loss Adjustment Expenses (Tables)

6 Months Ended

Jun. 30, 2022

Liability for Future Policy Benefits and Unpaid Claims and Claims Adjustment Expense [Abstract]

Schedule of Reconciliation of Beginning and Ending Reserve Balances for Losses and Loss Adjustment Expenses (LAE)

The following table provides a reconciliation of the beginning and ending reserve balances for losses and loss adjustment expenses (“LAE”) for the six months ended June 30:

(In thousands)	2022		2021
Reserve for losses and LAE at beginning of period	$	407,445	$	374,941
Less: Reinsurance recoverables	25,940		19,061
Net reserve for losses and LAE at beginning of period	381,505		355,880
Add provision for losses and LAE, net of reinsurance, occurring in:
Current period	43,095		72,600
Prior years	(226,152)		(30,627)
Net incurred losses and LAE during the current period	(183,057)		41,973
Deduct payments for losses and LAE, net of reinsurance, occurring in:
Current period	81		128
Prior years	2,051		3,139
Net loss and LAE payments during the current period	2,132		3,267
Net reserve for losses and LAE at end of period	196,316		394,586
Plus: Reinsurance recoverables	13,657		27,286
Reserve for losses and LAE at end of period	$	209,973	$	421,872