Reserve for Unpaid Losses (Tables)

6 Months Ended

Jun. 30, 2023

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 June 30,					Six Months Ended June 30,
	2023			2022		2023			2022
	(In thousands)
Balance, beginning of period	$	980,992		$	588,420	$	1,131,807		$	590,166
Less: reinsurance recoverable on unpaid losses		620,218			276,737		759,681			301,757
Net balance, beginning of period		360,774			311,683		372,126			288,409
Incurred related to:
Current year		109,371			101,441		208,285			239,065
Prior years		(2,725	)		81		(4,187	)		2,495
Total incurred		106,646			101,522		204,098			241,560
Paid related to:
Current year		53,569			59,713		83,944			99,341
Prior years		38,281			34,822		116,710			111,958
Total paid		91,850			94,535		200,654			211,299
Net balance, end of period		375,570			318,670		375,570			318,670
Plus: reinsurance recoverable on unpaid losses		442,289			235,239		442,289			235,239
Balance, end of period	$	817,859		$	553,909	$	817,859		$	553,909