Reserve for Unpaid Losses (Tables)

9 Months Ended

Sep. 30, 2022

Insurance [Abstract]

Summary of Reserve for Unpaid Losses

The table below summarizes the activity related to the Company’s reserve for unpaid losses:

	Three Months Ended September 30,						Nine Months Ended September 30,
	2022			2021			2022		2021
	(In thousands)
Balance, beginning of period	$	553,909		$	625,979		$	590,166	$	659,341
Less: reinsurance recoverable on unpaid losses		235,239			366,879			301,757		397,688
Net balance, beginning of period		318,670			259,100			288,409		261,653
Incurred related to:
Current year		156,855			130,425			395,921		331,374
Prior years		(1,006	)		(793	)		1,489		(2,998	)
Total incurred		155,849			129,632			397,410		328,376
Paid related to:
Current year		70,914			75,508			170,255		171,128
Prior years		24,088			27,273			136,047		132,950
Total paid		95,002			102,781			306,302		304,078
Net balance, end of period		379,517			285,951			379,517		285,951
Plus: reinsurance recoverable on unpaid losses		829,835			350,195			829,835		350,195
Balance, end of period	$	1,209,352		$	636,146		$	1,209,352	$	636,146