Losses and Loss Adjustment Expenses (Tables)

6 Months Ended

Jun. 30, 2024

Schedule of Liability for Unpaid Claims and Claims Adjustment Expense

The following table sets forth the reconciliation of unpaid losses and loss adjustment expenses (“LAE”) as reported in the condensed consolidated balance sheets as of and for the six months ended June 30, 2024 and 2023:


	Six months ended June 30,
($ in thousands)	2024		2023
Reserves for losses and LAE, beginning of period	$	1,314,501	$	1,141,757
Less: reinsurance recoverable on unpaid claims, beginning of period	(455,484)		(435,986)
Reserves for losses and LAE, beginning of period, net of reinsurance	859,017		705,771
Incurred, net of reinsurance, related to:
Current period	303,450		240,010
Prior years	—		—
Total incurred, net of reinsurance	303,450		240,010
Paid, net of reinsurance, related to:
Current period	39,202		29,124
Prior years	158,857		133,757
Total paid	198,059		162,881
Net reserves for losses and LAE, end of period	964,408		782,900
Plus: reinsurance recoverable on unpaid claims, end of period	505,698		441,227
Reserves for losses and LAE, end of period	$	1,470,106	$	1,224,127