Reinsurance (Tables)

9 Months Ended

Sep. 30, 2022

Reinsurance Disclosures [Abstract]

Summary of the Effects of Reinsurance

The following table presents the effects of reinsurance and assumption transactions on written premiums, earned premiums and losses and LAE (dollars in thousands):

	Three Months Ended September 30,						Nine months ended September 30,
	2022			2021			2022			2021
Written premiums:
Direct	$	22,682		$	24,239		$	73,789		$	73,825
Assumed		10,406			9,465			29,681			25,233
Ceded		(9,395	)		(7,635	)		(34,490	)		(19,974	)
Net written premiums	$	23,693		$	26,069		$	68,980		$	79,084
Earned premiums:
Direct	$	24,679		$	23,858		$	73,667		$	67,455
Assumed		9,722			7,912			27,280			22,790
Ceded		(9,443	)		(6,829	)		(27,458	)		(17,631	)
Net earned premiums	$	24,958		$	24,941		$	73,489		$	72,614
Losses and LAE:
Direct	$	15,837		$	14,511		$	46,375		$	50,628
Assumed		7,225			4,422			26,136			11,251
Ceded		(6,391	)		(2,774	)		(15,571	)		(8,432	)
Net Losses and LAE	$	16,671		$	16,159		$	56,940		$	53,447

Some of the excess of loss treaties that renewed on December 31, 2021 and January 1, 2022, included ceding commissions equal to 40% of the ceded premiums.  The ceding commission is reflected as a reduction in acquisition costs and amounted to $2.1 million and $6.4 million for the three and nine months ended September 30, 2022.  There were no ceding commissions reflected in the Consolidated Statements of Operations in 2021, relating to the excess of loss reinsurance treaties during 2021.